Agreement Form Assignment For Funeral Home In Oakland
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Assignment of Benefits (AOB) is an agreement that transfers the insurance claims rights or benefits of the policy to a third party. An AOB gives the third party authority to file a claim, make repair decisions, and collect insurance payments without the involvement of the homeowner.
This form permanently transfers ownership of your FEGLI insurance to another individual, trustee, or corporation (however, premiums continue to be withheld from your salary/annuity). An assignment is irrevocable, and cannot be changed later.
Policy Assignment Options The recipient will complete a form to designate the benefits directly to the funeral provider or a third party, who then files a claim with the life insurance company.
If the insurance company does not have its own form, the funeral home may use the attached Irrevocable Assignment of Policy Ownership form. Fill out the information requested, have the policyowner sign the form before a notary, and submit the form to the insurance company.
Michigan law empowers the deceased's next-of-kin to make funeral arrangement and final disposition decisions. When the next-of-kin status is shared by more than one individual the law allows decisions to be made by a majority of the individuals in the next-of-kin class.
1.1 A funeral plan contract is a contract under which a customer makes one or more payments to a funeral plan provider, who subsequently arranges or pays for a funeral upon the death of the customer.
