Washington National Insurance Company. All our forms are free.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. If the Collateral Assignment is to be released, the Assignee must complete a collateral release form dated prior to the Absolute Assignment. Gift assignments are not permitted as collateral security or for value.