Assignment Of Life Insurance Policy As Collateral
Product Information This legal form is used for the purpose of assigning a life insurance policy as guarantee for any loans or indebtedness the assignor has. The form consists of six clauses with several phrases under each. The form is very easy to prepare, users would just need to fill out the first part with their names and life insurance policy numbers used as collateral. The form has to be signed by both parties and be filed with the proper office. Signing the form means that the assignee accepts the life insurance policy as possible payment for the underlying obligations. And that the assignor surrenders the policy if he fails to pay. This legal form includes both Word and PDF file formats.
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