PSI Ohio Insurance Practice Exam 2026 - Free Ohio Insurance Practice Questions and Study Guide

When covered under a group life insurance policy, an employee typically has the right to change the beneficiary. This provision allows the insured individual to designate who will receive the death benefit in the event of their passing, reflecting their current intentions and personal circumstances. The ability to change the beneficiary is crucial, as it ensures that the individual's wishes regarding financial support for loved ones can be updated as life events occur, such as marriage, divorce, or the birth of children.

While the other choices may seem relevant, they do not generally apply under a standard group life insurance policy. Changing the insurance provider typically requires the group as a whole to make a decision rather than individual employees. Transferring ownership of the policy is usually not permitted in group plans, as the coverage is owned by the group rather than the individual members. Increasing coverage limits often depends on the terms of the group policy and may not be a right provided to individual employees, who may be limited to the coverage set forth in the group plan.