A revocable beneficiary means the owner:

A revocable beneficiary allows the policyholder to change the beneficiary at any time before the insured's death. This flexibility means that the owner of the insurance policy retains complete control over the beneficiary designation. They can alter or replace the beneficiary without needing permission from the current beneficiary, making it a preferred option for many policyholders who want the ability to adapt their policies to changing circumstances, such as life events like marriage, divorce, or the birth of a child.

The other choices suggest limitations on the policyholder's rights regarding changing the beneficiary. While some beneficiaries are irrevocable, meaning they cannot be changed without consent, a revocable beneficiary specifically provides the owner with the freedom to modify their choice as needed. Thus, the essence of having a revocable beneficiary is the empowerment it gives the owner in managing the policy and ensuring that the death benefit is aligned with their current intentions.