The beneficiary retains all rights and privileges granted by a life insurance policy,including the right to amend the policy and the right to designate who receives the proceeds.

Question

Quizplus · Accepted Answer

The policy owner, not the beneficiary, retains the rights and privileges such as amending the policy and designating the recipients of the proceeds. The beneficiary is simply the person or entity designated to receive the death benefit upon the death of the insured.

The Beneficiary Retains All Rights and Privileges Granted by a Life