If the Collateral Assignment is to be released, the Assignee must complete a collateral release form dated prior to the Absolute Assignment. Get affordable life insurance and financial protection for the people you care about the most.Get your free quote now. To enroll as a member in the Fund, you must complete the MBF Form 1060. How to fill out the Assignment Policy Form for Life Insurance? 1. Identify the policy and the assignee details. 2.