All of the following are ownership rights EXCEPT?

The correct choice identifies an action that does not constitute an ownership right in an insurance policy. To own an insurance policy means the policyholder has specific rights, which are typically outlined in the policy documents.

Assigning the policy, changing beneficiaries, and receiving dividends are all recognized ownership rights that allow policyholders to manage their policy according to their needs and circumstances. Assigning the policy allows the policyholder to transfer the rights to another individual or entity. Changing beneficiaries enables the policyholder to decide who will receive the benefit upon the insured’s death, reflecting personal changes such as marriage or the birth of a child. Receiving dividends often pertains to participating policies, where policyholders might receive a share of the insurer's profits.

On the other hand, switching the policy from one insured to another typically involves a substantive alteration in the terms and conditions of the policy, often requiring the insurer's approval. This action is not considered a straightforward ownership right because it does not merely involve managing the policy but rather fundamentally changes who is covered under the policy. Thus, it is an exception to the standard ownership rights associated with insurance policies.