Assignment of Life Insurance policy

1. 

   Anonymous
   

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   Please clarify, whether assignment of Life Insurance contract is possible only if there is 'Sum Assured' avaialable? Also, can pension contracts be assigned?

   Posted 2 years ago #
2. 

   namrata
   

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   Joined: Jun '09
   Posts: 1

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   Assignment is transfer of rights, title and interest over some assets, i.e having financial value.

   Life insurance policy sold normally have sum assured limited fixed.
   But, today we see Life insurance policy like Ulip are sold even without any sum assured but still the policy holder has certain right, title and interest over that policy like that of policies having sum assured..

   Hence, the fund value accumulated under the Ulip policy is the maximum amount over which the policy holder has the right, interest and title, which can be assigned by him.

   Similary, pension policies can also be assigned.

   Posted 2 years ago #

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