Get Absolute Assignment

Filling out the Absolute Assignment is an important step in using a life insurance policy as collateral. This user-friendly guide will walk you through each section of the form to ensure accurate completion.

Follow the steps to successfully complete the Absolute Assignment

1. Click the ‘Get Form’ button to obtain the Absolute Assignment and open it in your preferred online editor.
2. In section A, provide the name of the assignee. This person or organization will be entitled to the rights being assigned under the policy.
3. Next, fill in the address details for the assignee, including street address, city, state, and zip code.
4. In the section labeled ‘Policy No.’, enter the number of the insurance policy being assigned.
5. Identify the individual whose life is insured by the policy in the designated field.
6. Review the rights being assigned to the assignee. This includes rights to collect proceeds, surrender the policy, and obtain loans against the policy.
7. Check the exceptions listed, which indicate rights retained by the policy owner, such as collecting any disability benefits.
8. Fill out the liability acknowledgment section, emphasizing the assignment is to secure payment for liabilities owed to the assignee.
9. Sign and date the document in the designated area at the bottom of the first page, completing the assignment.
10. If applicable, complete the acknowledgment sections on the second page. This includes individual or corporate acknowledgment depending on your circumstance.
11. Finalize the document by saving changes, downloading, printing, or sharing the form as necessary.

Get started on completing your Absolute Assignment online today!