To apply for assignment of life insurance, you must contact the GIC for an assignment form. Do not use this form for change of ownership.If the assignment is to apply to more than one policy or annuity, list all applicable policy and annuity numbers. Next, provide the owner's information and details of the assignee. Please complete the following if Policy was in force less than 2 years and include a signed HIPAA-Compliant. Authorization for the release of medical records. How do I fill this out? As Schlass notes, you can fill out an Assignment of Life Insurance Policy as Collateral form at any time during the life of your policy. Complete, print, and sign this Assignment of benefits form (highlighted fields can be completed online then printed).