Get Gwl Absolute Assignment (form 57) Reg.indd - Great-west Financial

The GWL Absolute Assignment (Form 57) REG.indd is an important document used for transferring ownership rights of an insurance policy. This guide will provide you with clear, step-by-step instructions on how to fill out this form online.

Follow the steps to complete your GWL Absolute Assignment form effectively.

1. Click 'Get Form' button to obtain the form and open it in the editor.
2. Enter the policy number in the designated field to identify the insurance policy being transferred.
3. Fill in the name of the current policy owner along with their marital status by selecting one of the available options: Single, Married, Divorced, or Widowed. Note that if Married, Divorced, or Widowed, you may need to refer to the Community Property section on Page 2.
4. Indicate whether the assignment is made for valuable consideration received or as a gift by checking the appropriate box.
5. Provide the complete name of the assignee, along with their street address, city, province/state, postal/zip code, and phone number. Ensure that the assignee's social security number or federal identification number is also included.
6. If applicable, check the box to remove Pre-Authorized Checking (PAC) upon the change of ownership.
7. Review the note regarding potential taxable gain due to the transfer of ownership, ensuring to understand the implications before proceeding.
8. Acknowledge that all previous designations of beneficiaries and requests regarding policy proceeds are revoked, which means the policy owner or their estate could become the beneficiary after the assignment.
9. Provide your signature and the date for all current policy owners. If there are new policy owners, they must also sign and date the form accordingly.
10. If there are any irrevocable or preferred beneficiaries, their signatures and dates must also be included.
11. Check all information carefully for accuracy before moving to save your changes, download, print, or share the completed form.

Complete your GWL Absolute Assignment form online today for a hassle-free experience.