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

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Study for the Louisiana Series 103 – Life, Health, and Accident or Sickness Insurance Exam. Familiarize yourself with key concepts through engaging questions and explanations. Prepare effectively for your exam!

Multiple Choice

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

Explanation:
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.

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