Policy Riders, Provisions, Options, and Exclusions
Which beneficiary designation generally allows the owner to make a change without the beneficiary's consent?
Answer and explanation
Answer: D. A revocable beneficiary may generally be changed by the owner under the policy's procedures. An irrevocable beneficiary has a protected interest and cannot be changed without that beneficiary's consent.Source: Interstate Insurance Product Regulation Commission — Individual Flexible Premium Adjustable Life Insurance Policy Standards — § 3 > D. Beneficiary (1)–(3)
More policy riders, provisions, options, and exclusions questions
- What distinguishes a collateral assignment from an absolute assignment of a life policy?
- What does a life policy's suicide provision generally limit?
- What does an accelerated death benefit provide when its qualifying conditions are met?
- What does an accidental death benefit rider generally provide when the insured dies from a covered accident?
- What does reinstatement do to an eligible lapsed life policy?
- What dual protection does a disability income rider provide when attached to a life insurance policy?
590 Texas questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.