Question

A policyowner has a health insurance policy with his wife listed as the primary beneficiary. He would like to change the primary beneficiary to his sister. Which of the following is true?

Answer 1

Unless the policy designated the current beneficiary as irrevocable, the policy owner can make the change at any time.

Step-by-step explanation:

A primary beneficiary is simply the person you have selected in your health insurance policy to be the one to be called upon to receive any benefits. In the case of a health insurance policy, changing primary beneficiary can be done at any time the owner deems necessary. The only circumstance in which the primary beneficiary is irrevocable is only if it is stated in the policy.