Deed of assignment: life or endowment policy on divorce

This deed transfers the rights to a policy to your former spouse or partner. Use by agreement or by order of the Court.

Suitable for use in: England & Wales and Scotland
£10.80 inc VAT ( £9.00 ex VAT )
  • Solicitor approved
  • Plain English makes editing easy
  • Guidance notes included
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About this document

Use this deed to transfer a life assurance policy to a former spouse or life partner.

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 for that purpose.

We offer a simple version of this deed if you are a trustee assigning the policy to a beneficiary.

If you are selling or buying a policy for money, use this similar document.

For technical legal reasons explained further here, all assignments of life policies must be by deed and not signed by hand.

In practice, this means that you need a witness to your signatures. Unless it is more convenient to do otherwise, the same person 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.

Features and contents

The document includes the following:

  • Warranties by the assignor
  • The assignment
  • Dispute resolution
  • Severance and invalidity
  • Notice of assignment to deliver to the insurer or bank
Draftsman

This document was written by a solicitor for Net Lawman. It complies with current English law.

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