assignee

What is the meaning of Conditional Assignment?

January 5, 2018

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...

Who is an Assignee?

December 6, 2017

An Assignee refers to any person, any firm, a trust or an entity who is the ultimate recipient of the rights, benefits and ownership of an insurance policy or a contract. The one who transfers the latter to the assignee is known as the assignor. Usually, the...

What is Absolute Assignment?

November 27, 2017

An absolute assignment refers to complete transfer of the ownership (rights, benefits, liabilities etc.) of the policy to another party with no mention of terms and conditions.  E.g. if A the policy owner wants to gift or give his/her life insurance policy to another person B, then...

What is Assignor?

November 27, 2017

The Assignor is basically a person, a party or an entity that transfers the rights of a contract which they hold to another entity known as the assignee. The assignor thus transfers complete ownership rights and all the benefits pertaining to the contract to the assignee.

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