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.
-
"I needed an Agreement and Google, as always, was where I headed. I found the Net Lawman site and initially I thought I needed a relationship type Agreement but the Lodger one was absolutely perfect.
I didn't think it would be so easy so would recommend your website to anybody who was looking for an Agreement to suit their needs."Wendy Auger -
"I needed to start a company fast, I searched and after looking at a few websites I came across netlawman, by far the easiest around. I will be looking again for when I need future documents fast. Thank you."
textcards -
"Net Lawman has helped me through several procedures. The documents in plain English, the drafting service and the delightful customer service means I can get the job done properly, at a price that doesn't affect a small businesses bottom line. Thank you!"
Dan White