Which of the following is a feature of a revocable beneficiary?

A revocable beneficiary is a designation in a life insurance policy that allows the policy owner to alter or change the beneficiary at any time without needing consent from the current beneficiary. This means that the policy owner retains the authority to decide who will ultimately receive the policy's death benefit upon their passing.

The key characteristic that leads to the correct choice is the flexibility it provides to the policy owner. This feature contrasts with irrevocable beneficiaries, who cannot be changed without the beneficiary's consent, ensuring that the specific individual designated as the beneficiary will receive the benefits regardless of any subsequent decisions by the policy owner.

Ownership rights do not remain with the beneficiary, nor does the revocable nature imply that it cannot be altered or is automatically irrevocable. Instead, the very definition of a revocable beneficiary emphasizes that the policy owner has the discretion to make changes as they see fit. This understanding is crucial for policy owners managing their financial and estate planning.