Assignment of a Life Insurance Policy simply means transfer of rights from one person to another.
The person who assigns the policy, i.e. transfers the rights, is called the Assignor and the one to whom the policy has been assigned, i.e. the person to whom the policy rights have been transferred is called the Assignee.
Thus, the owner of the policy who decides to transfer the rights to someone else, is called Assignor.
Once the rights have been transferred to the Assignee, the rights of...
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