Assignment of Life Insurance Policy as Collateral
Transfer a life insurance policy to a lender as collateral for a loan with this Assignment of Life Insurance Policy form.
- The lender has the sole right to collect any proceeds payable under the policy.
- The lender is at liberty to surrender the policy and receive any distributions, dividends or surplus.
- The assignor retains the right to collect disability benefits, designate or change beneficiaries, and elect for optional settlement.
- The Assignment of Life Insurance Policy form is a generic legal template that makes no specific references to the laws of any country.
Last Updated: 21-April-2021