Which of the following is NOT a right entitled to the policyowner under the Ownership provision?

The Ownership provision in an insurance policy outlines the rights that the policyowner has concerning the policy. This includes the authority to make important decisions about how the policy operates. The ability to designate a beneficiary allows the policy owner to choose who will receive the policy's death benefit, offering control over who is financially protected.

The right to receive a policy loan enables the policy owner to borrow against the cash value of the policy, providing access to funds without the need for a credit check or approval process. Assigning the policy allows the policyowner to transfer their interest in the policy to another party, which can be for various reasons, including collateral for a loan or as a gift.

On the other hand, setting premium rates is not a right typically granted to the policyowner. Premium rates are determined by the insurer based on various factors such as age, health, and the type of policy. The policy owner cannot unilaterally dictate what the premium rates will be, as these rates are established by the insurance company and are designed to reflect the level of risk and the cost of coverage. Thus, setting premium rates stands apart as a function of the insurer rather than a right of the policyowner, making it the correct choice in this context.