What is the meaning of Conditional Assignment?
Conditional Assignment refers to the way by which an assignor i.e. life insurance policyholder can transfer policy rights to the assignee as per the terms and conditions. As per conditional assignment, the assignor gets back the policy rights if he/she fulfils all the criteria under which the policy was initially transferred. On the contrary, only if the assignor is not able to satisfy the terms of the assignment, the assignee then has the right to surrender the policy.