How does a policyholder designate a "revocable" beneficiary?

Designating a revocable beneficiary allows the policyholder to maintain the flexibility to change or remove the beneficiary at any time without needing their consent. This designation is typically made by explicitly naming the beneficiary in the insurance policy. It provides the policyholder with the control to update or amend their beneficiary designation as personal circumstances change, such as due to marriage, divorce, or the birth of a child.

In contrast, other choices do not effectively convey the standard procedure for designating a revocable beneficiary. Informing the insurer verbally lacks the formal requirement needed for such a designation. Submitting a special form might be necessary in certain situations or for specific policies, but it is not universally required for revocable beneficiaries. Initializing the beneficiary's name in the policy document does not necessarily establish the revocable nature of the designation, as the clarity provided by explicitly stating the beneficiary's designations is essential.