Florida Life and Health Insurance License Practice Test

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What type of beneficiary designation allows the policyowner to change the beneficiary at any time?

  1. Irrevocable

  2. Revocable

  3. Primary

  4. Contingent

The correct answer is: Revocable

A) Irrevocable is not the correct answer because it means the beneficiary designation cannot be changed without the beneficiary's consent. C) Primary is not the correct answer because it refers to the first beneficiary listed to receive the policy proceeds. D) Contingent is not the correct answer because it refers to a secondary beneficiary who will receive the policy proceeds if the primary beneficiary is unable to. Revocable is the correct answer because it means the policyowner can change the beneficiary at any time without needing the beneficiary's consent. This type of designation provides the most flexibility for the policyowner to change their beneficiaries as needed.

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