When can a policyowner change a revocable beneficiary?

A policyowner can change a revocable beneficiary at any time because revocable beneficiaries are not rights that the beneficiary holds. Instead, the policyowner retains full control over the policy and can make changes, typically by submitting a written request to the insurance company. This flexibility is a key feature of revocable beneficiaries, allowing policyowners to adjust their designations in response to changing circumstances, such as life events or personal preferences. The other options imply restrictions or specific conditions for changing the beneficiary, which do not apply to revocable beneficiaries. This characteristic allows for ease of management and personalization of the policyholder's financial planning.