Life Policy ProvisionsQuestion 547 of 716
A revocable beneficiary designation means the policyowner:
a.Must obtain the beneficiary's written consent to make any change
b.May change the beneficiary at any time without the beneficiary's consent
c.Is legally barred from ever changing the beneficiary designation once the original choice has been recorded
d.Has permanently given up ownership of the policy to the beneficiary
Explanation
A revocable beneficiary has only an expectation, so the owner may change the designation at will. Needing consent describes an irrevocable beneficiary; the owner neither loses the right to change nor gives up ownership.
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Related questions on this topic
- Under the entire contract provision, the insurer may NOT:
- Which right belongs to the policyowner rather than to the insured (when they are different people)?
- A policyowner assigns a life policy to a bank as security for a loan, intending the bank to have rights only up to the outstanding loan balance. This is a:
- If a beneficiary is named irrevocably, the policyowner generally may NOT do which of the following without that beneficiary's consent?
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Last reviewed: · editorial process
PrepPass team · Verified against California Life & Health Insurance License Exam · How we review
Reviewed by John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verify)