What are some examples of a life insurance policy owner's rights?

The owner generally has the right to transfer ownership of the policy, borrow against accumulated cash value, change beneficiaries, cancel the policy, convert the policy to another one that the company offers at the time of the desired conversion, change the amount of insurance, and exercise options to increase the amount of insurance.

There may be other rights that inure to the owner, and they will be enumerated in the policy. There may also be limitations on the rights of the owner, such as, pertaining to the right to change beneficiaries.