Once you have found the right loan, you must fill out the collateral assignment form. Your insurer will be able to provide you with this form easily.You may use this form for multiple policies that have the same policy owner and require the same signatures. You and your refer to the Creditor named above. DOC010343500. This assignment is made and the Policy is to be held as collateral security for any and all liabilities of the undersigned, or any of them, to the Assignee,. If multiple beneficiaries are assigning their portions of proceeds, all such beneficiaries must complete and sign the Assignment of. Complete this form for the Collateral Assignment of Life insurance and Annuity contracts ONLY.