Who Gets What? Understanding Policyowners, Insureds, and Beneficiaries

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Who Gets What? Understanding Policyowners, Insureds, and Beneficiaries

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One person buys the policy, another person is insured, and a third may receive the money, so who actually controls what? This episode separates the roles of the policyowner, insured, and beneficiary and introduces the important distinction between revocable and irrevocable beneficiaries. Two original practice questions show how these roles can appear in California licensing-exam scenarios. The recall cue is simple: “Owner controls, insured is covered, beneficiary collects.”

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