What is the function of a 'beneficiary designation' in a life insurance policy?

The beneficiary designation names who receives the policy's death benefit when the insured dies. Beneficiaries can be primary (first in line) or contingent (who receive the benefit if the primary is deceased). A revocable beneficiary can be changed by the policyowner at any time without the beneficiary's consent, while an irrevocable beneficiary's rights cannot be changed without that beneficiary's permission. Naming a beneficiary allows the death benefit to pass directly to them, generally avoiding probate. Understanding beneficiary designations, including the revocable/irrevocable distinction, is core policy-provisions knowledge on the life insurance exam.