If a life policy's beneficiary is designated as revocable, which of the following is TRUE?

A$.$ The beneficiary has a vested interest in the policy.

B$.$ The beneficiary may return control of policy to the owner with written

approval.

C$.$ The policyowner needs the beneficiary's permission to borrow against the

cash value.

D$.$ The policyowner can change the beneficiary designation anytime without the

beneficiary's consent.