Which of the following individuals has the right to name a beneficiary?

The producer, often known as an insurance agent, facilitates the sale of the policy but does not have the authority to name beneficiaries. Their role is to assist the policyowner in understanding the policy and its options, but any decisions regarding the beneficiary designation must be made by the policyowner.

The insured is the person whose life or health is covered by the insurance policy. While the insured may have a vested interest in who receives the benefits, they do not have the authority to name a beneficiary unless they are also the policyowner. The rights to designate beneficiaries rest solely with the policyowner.

An assignee is an individual or entity that has been assigned rights under the policy, typically in the context of a transfer of ownership or benefits. While an assignee may have some rights relating to the policy, they do not inherently possess the authority to name a beneficiary unless specifically granted by the policyowner.