Deed of assignment

Life insurance policy or endowment policy
9 Reviews
Select support levelCompare
Recommended

Document overview

This deed transfers the rights in an endowment or insurance policy to some other person or company, for money or value. It is suitable in a situation other than divorce.
Compliant
Compliant with the latest law in
  • England & Wales
  • Scotland
Document propertied
Document properties
  • Length:5 pages (1100 words)
  • Available in:
    MsWordMicrosoft Word DOCXApple pagesApple PagesRTFRTF
watertight guarantee
Backed by our watertight guarantee

If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.

writing in plain english
Written in plain English

We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.

Notes
Guidance notes included

You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.

email
Support from our legal team

Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.

Update
Up to date with the latest law

Our documents comply with the latest relevant law. Our lawyers regularly review how new law affects each document in our library.

About this document

Use this deed to assign (transfer) a policy for life insurance or an endowment to another person. The reason could be any, but it should be a sale in which money changes hands.

We include reasonable warranties by the seller and undertakings by the buyer. It is clear and simple, but thorough and complete for an arm’s length transaction.

The transfer will be complete and valid only when the insurer has been formally notified.

As well as the deed document, we have included a template notice that the assignment has taken place. This may or may not be useful to you: your insurer may prefer you to use their own form, but sometimes other parties, like your bank, also need to know or appreciate being told.

We offer a simpler version if you are a trustee assigning the policy to a beneficiary.

If you are making or receiving a transfer as part of a divorce or separation, use this alternative document.

Completing this deed

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.

Taxation of life assurance policies is complex and we recommend that you consult with a tax accountant. The effect of tax is also an important consideration in assessing the value to the assignee of the policy.

When to use this document

The deed can be used to assign a policy:

  • from one individual to another, for payment or as a gift
  • in a sale by the life assured to anyone or any company

Features and contents

The deed includes the following paragraphs:

  • Warranties by the assignor
  • The assignment
  • Dispute resolution
  • Severance and invalidity
  • Notice of assignment to deliver to the insurer or bank
Sample deed of assignmentSample page from the deed of assignment for a life insurance policy or endowment policy

CallTalk to us about this document

We are happy to answer any questions you have. Arrange for us to call you.

Recent reviews

Alternative Found
11 January 2023
I was concerned that the document would be amateurish.
I decided to buy it as the price was reasonable and it could be reviewed afterwards if required.
I was unable to find a local solicitor who would help me..
I would definitely recommend to others..
Chris Fletcher
Christopher Fletcher
Great Service
04 February 2019
It was truly helpful to know what was required without involving a solicitor.
Michael Laycock
Great Service
21 January 2019
Really good quality and easy to apply for the clients circumstances.
Andrew Baker
Read all 9 reviews

Choose the level of support you need

Document Only

Complete the document template yourself using our guidance notes
£10.80
(incl VAT)
  • ok This document
  • okDetailed guidance notes explaining how to edit each paragraph
Most Popular

Lawyer Assist

Support from our legal team during and after editing
203 Reviews
£130.80
(incl VAT)
  • ok This document
  • okDetailed guidance notes explaining how to edit each paragraph
  • okUnlimited email support - ask our legal team any question related to completing the document
  • ok
    Review of your edited document by our legal team including:
    • reporting on whether your changes comply with the law
    • answering your questions about how to word a new clause or achieve an outcome
    • checking that your use of defined terms is correct and consistent
    • correcting spelling mistakes
    • reformatting the document ready to sign

Bespoke

Drafted for you, to your precise requirements
from
£400.00
(incl VAT)
  • okA document drawn just for you to your exact requirements
  • okPersonalised service provided by an experienced solicitor
  • okFree discussion before we provide an estimate, for you to ask questions and for us to understand your requirements
  • okTransparent fees - a fixed fee for the basic work, a fixed hourly rate for new or changed instructions, and no charge for office overheads or third party disbursements
  • okCareful and thorough consideration of your circumstances and your consequent likely practical and legal requirements
  • okProvision of options that you may not have considered with availability for discussion
  • okHelp and advice woven into the fabric of our service so that you can make the best decisions
© 2000 - 2024 Net Lawman Limited.
All rights reserved