Deed of assignment: life or endowment policy on divorce
This deed of assignment transfers the rights to an insurance policy or endowment policy to your former spouse or partner. Use by agreement or by order of the Court. Use to transfer all you own, whether all or half share.
- Solicitor approved
- Plain English makes editing easy
- Guidance notes included
- Money back guarantee
About this deed of assignment for a life insurance policy
Use this deed of assignment to transfer a life insurance 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 simpler version of this document if you are a trustee assigning the policy to a beneficiary. See: Deed of assignment: life or endowment policy by trustees.
If you are selling or buying a policy for money, use a similar document which you will find at Deed of assignment: life insurance policy or endowment policy.
Completing this deed of assignment
For technical legal reasons, all assignments of life policies must be by deed and not signed by hand. 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.
Document features and contents
The deed of assignment includes the following paragraphs:
- Warranties by the assignor;
- The assignment;
- Dispute resolution;
- Severance and invalidity;
- 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 English law.
What other customers thought
Average customer rating
By John Diamond 10 January 2015
Not as daunting as you might imagine! Easy to fill in, customer service very good they emailed me a copy in another format as soon as I requested it.Insurance company accepted the deed of assignment and transferred the policy without any problem.
By Alistair Nash 11 April 2014
Excellent result from using this document.
By Brian Barrett 09 April 2013
Easy to understand and get implemented. no Fuss at all. a couple of questions answered by the staff very quickly, a great service that i would consider to use again should i need to. :)
By Martin Reader 16 July 2013
I guess the proof of the pudding will be in the eating - as the acceptance of the form by the insurer is as yet unknown. The service from Net Lawman was efficient and seamless so no issues there. My one observation was that the form asked for a witness name and address for each signatory but offered no signature box for the witnesses, thus my witness simply signed next to their name. I trust this will be okay too!
Net Lawman responds 22 July 2013
Your document signatures will be fine. Boxes are merely a matter of page format.
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