Guidelines On Applications For Approval Of New And Repackaged Life Insurance Products

An assignment is an agreement where one party in a contractual relationship transfers some or all of their rights under the agreement to a third party. A policyhowner may decide to assign his cash surrender value on a policy to a lender as collateral for a loan. A life insurance company may restrict or prohibit a policyowner from exercising this right of assignment by including an assignment provision which will then state the conditions under which an assignment can be made. 

Procedures to Follow

Not Avaiable

Responsible Institution

National Insurance Commission


Relevant Forms to Download

Not Available

Fees & Charges

Not Avaiable