(2) The full name, and age, of the Assignee must be stated. (3) The actual consideration for the assignment received from the assignee should be written in.(FORM OF RE- ASSIGNMENT OF POLICY FOR CONDITIONAL ASSIGNMENT). How to fill out the Assignment Policy Form for Life Insurance? 1. Identify the policy and the assignee details. 2. An "absolute assignment" is the act of complete transfer of the ownership. The document provides a form for conditional assignment of a life insurance policy to a wife or close relative. The application for life insurance benefits consists of the forms included in this packet, as well as the additional information noted under item 1 below.