Get Assumption Of Ownership - Ing For Financial Professionals

Filling out the Assumption of Ownership form is a straightforward process that enables a contingent owner or the insured to assume ownership of a life insurance policy when the original policy owner has passed away. This guide will provide detailed, step-by-step instructions to help users fill out the form accurately and efficiently.

Follow the steps to complete the form online with ease.

1. Press the ‘Get Form’ button to access the form and open it in your document management interface.
2. In Section A, provide the deceased owner's information by entering the insured's name, policy/file code number, deceased owner's name, date of death, and their Social Security Number or Tax Identification Number, which is mandatory.
3. For Section B, fill in the new owner's information. Include the new owner's name, gender, residence address (note that PO boxes are not allowed), state, city, Social Security Number or Tax Identification Number (required), ZIP code, birth date, and phone number.
4. If the new owner is a trust, complete the trust information section. Enter the trust name, Social Security Number or Tax Identification Number, trustee names, and phone number. Additionally, indicate whether the trust is revocable or irrevocable and provide the date of the trust.
5. Complete the billing address, ensuring that it meets the same address requirements as the residence address.
6. In the Certification section, the new owner must confirm agreement with the terms by signing and dating the document. If applicable, signatures from irrevocable beneficiaries and assignees should also be included.
7. Finally, review your entries for accuracy. Once completed, submit the form to Customer Service without including your policy. You will receive an endorsed copy of the form for your records.

Complete your ASSUMPTION OF OWNERSHIP form online today to manage your life insurance policy effectively.