About this deed of assignment for a life assurance policy
This deed of assignment transfers an endowment or other life insurance policy, most commonly from trustees to beneficiary or from one party to another as part of a divorce settlement or separation agreement. It includes a template notice to the insurer that the policy has been transferred. The document is straight forward to complete.
This document is not suitable for a transfer for value. Instead, use Deed of assignment: life insurance policy or endowment policy.
Assigning a life policy using this document
For technical legal reasons, all assignments of life policies must be by deed and not by contract. The main practical difference is that a deed requires a witness to the signatures.
Unless it is more convenient to do otherwise, the same witness can verify the signatures of both parties.
Document features and contents
The deed of assignment contains the following paragraphs:
- The assignment
- Undertakings by trustees
- Form: Notice of Assignment to deliver to the insurer and bank
This document was written by a solicitor for Net Lawman. It complies with current Canadian law.
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