Can I assign my policy?

An assignment transfers ownership to a third party while the assignment is in effect.  A bank or other financial institution may require life insurance as a condition for a loan. Policy assignments can be processed for the sum insured provided the policy is paid current and the signature of the irrevocable beneficiary, if any, is obtained.  Assignment forms are typically provided by the financial institutions and when completed should be submitted to Family Guardian  for processing.

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