Which action is not within the rights of a life insurance policyowner?

Which action is not within the rights of a life insurance policyowner?

• A. Revoke an absolute assignment
• B. Surrender the policy for its cash value
• C. Change the beneficiary designation
• D. Borrow against the policy

Answer: (A)

Absolute assignment transfers all ownership rights of the policy to someone else and is intended to be permanent. Once this transfer is complete, the original owner no longer has control over the policy, so revoking an absolute assignment isn’t available as a policyowner right. The other actions described—surrendering for cash value, changing a revocable beneficiary designation, and borrowing against the policy (if there’s cash value and the loan provisions allow it)—are typical rights or options available to the owner under standard policy terms.

Absolute assignment transfers all ownership rights of the policy to someone else and is intended to be permanent. Once this transfer is complete, the original owner no longer has control over the policy, so revoking an absolute assignment isn’t available as a policyowner right. The other actions described—surrendering for cash value, changing a revocable beneficiary designation, and borrowing against the policy (if there’s cash value and the loan provisions allow it)—are typical rights or options available to the owner under standard policy terms.