In a situation where a policyowner has changed a beneficiary, who remains the annuitant?

In the context of an insurance policy, particularly an annuity, the policyowner is the individual who holds the rights to the contract and has the authority to make changes such as designating or changing beneficiaries. When a beneficiary is changed, that action does not impact the status of the annuitant. The annuitant is generally the person on whose life the annuity payments are based, which can often be the policyowner, but it does not necessarily have to be.

In this case, the policyowner continues to be the annuitant unless specifically stated otherwise in the terms of the policy. Changing the beneficiary simply means that the individual entitled to receive the proceeds upon the death of the annuitant changes, but it does not alter who is designated as the annuitant themselves.

This understanding hinges on the role of the policyowner and the separateness of beneficiary designations from the annuitant’s identity. Thus, the correct answer highlights the continuity of the policyowner's role as the annuitant despite changes in the beneficiary.