Absolute Assignment (Assignor age 16 and above)
Editorial Note: (This is a sample for an absolute assignment or absolute divestment of one’s interest totally to another third party – it is important to note that these documents has to be stamped in accordance with the Stamp Duty Act)
I (name) as policy owner (hereinafter referred to as ‘the Assignor”), in consideration of the sum of (amount) this day paid by (Name) of (Address of payer) (hereinafter referred to as “the Assignee”) do hereby assign and transfer to the Assignee absolutely the full benefit of all moneys assured or to become payable by or under the Policy of Insurance numbered (no of policy) issued by (Name of Insurance company), insuring the life of (name of assignor or policy holder) and dated (date) inclusive of all values, benefits and options thereof, and I declare that a receipt signed by the Assignee shall fully discharge (name of insurer) from its liabilities and obligations under the policy in respect of which the receipt is given.
In WITNESS WHEREOF, I and the Assignee have hereunto set our hands this (date)
Signature of the Assignor )
Signature of the Assignee )
