A Capital Lease means a lease agreement or a contract in which the ownership rights of the asset are transferred to the lessee after the completion of the lease period. These are usually done for long-term and cannot be cancelled. The lessee has the option of bargaining at the time of the sale of the […]
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 A is doing Absolute Assignment. Thus, A is […]
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.