Kip Enters into a Contract with Life Insurance Company for a Policy

Multiple Choice

Kip enters into a contract with Life Insurance Company for a policy that designates Mia as the beneficiary. Kip reserves the right to change the designated beneficiary. Mia's rights under the policy are

A) not affected by the reservation.
B) subject to any change that Kip makes.
C) subject to the first-in-time rule.
D) terminated by the reservation.