Which statement regarding the Change of Beneficiary provision is true?

The statement that the policy owner can change the beneficiary is correct because the policy owner typically retains this right for the life of the policy, as long as they are not restricted by any previous agreements or legal constraints. The ability to change the beneficiary is a key feature of life insurance policies, allowing policy owners to adapt their coverage based on their personal circumstances or intentions for the benefits.

This flexibility ensures that the benefits are directed to the individuals or entities the policy owner wishes to support financially upon their death. Importantly, as long as the policy is active, the policy owner can make this change without the need for consent from the beneficiary or the insurance company.

Change of Beneficiary provisions are designed to give control to the policy owner, facilitating their ability to align the policy with their current wishes or needs.