Life License Qualification Program (LLQP) 2025 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 400

When can a policyowner change a revocable beneficiary?

Anytime

A policyowner has the ability to change a revocable beneficiary anytime they choose, as long as they follow the terms set forth in the insurance policy. The unique feature of a revocable beneficiary designation is that it allows the policyowner flexibility and control over who will receive the death benefit. Unlike an irrevocable beneficiary, which cannot be changed without the consent of that beneficiary, a revocable beneficiary can be altered freely, reflecting the policyowner's current wishes or circumstances.

This characteristic is particularly beneficial for policyowners who wish to adapt their beneficiary designations based on life changes, such as marriage, divorce, or the birth of a child, without needing to secure approval from the current beneficiary. It enables the policyowner to maintain the intended allocation of benefits in alignment with their personal situation at any point in time.

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After the consent of the current beneficiary

Never

Only if primary beneficiary dies

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