Deed of assignment: life or endowment policy by trustees
This deed transfers an endowment or other life assurance policy from trustees to beneficiary. It includes a notice to the insurer that the policy has been transferred.
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About this document
This deed assigns a policy for an endowment or life insurance from trustees to a beneficiary.
It is for use where the receiving party does not pay for the value of the policy (instead use this deed)
For technical legal reasons, all assignments of life policies must be by deed and not by contract.
From a practical point of view, that means 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.
Features and contents
The deed contains the following paragraphs:
- The assignment
- Undertakings by trustees
- Notice of assignment to deliver to the insurer or bank
This document was written by a solicitor for Net Lawman. It complies with current English law.
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