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. How to fill out the Assignment Policy Form for Life Insurance?1. Identify the policy and the assignee details. 2. The "Assignee" is the person(s), firm(s), or trust(s) (usually named on an Assignment form, RI 76-10) who owns and controls the Insured's life insurance. 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. Complete this form for the Collateral Assignment of Life insurance and Annuity contracts ONLY.