What Is An Absolute Assignment In Life Insurance?

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    Peggy Mace
    Most of the U.S.
    An absolute assignment of life insurance is a way of transferring ownership and proceeds from the policy to another person or institution. Absolute assignment of life insurance is sometimes used as collateral when obtaining a loan, as the lender is repaid by the life insurance if the borrower dies. Some people use absolute assignment of life insurance as a way of leaving money to charity.
    Answered on November 2, 2013
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