Assignment of Policy of Life Assurance
THIS DEED OF ASSIGNMENT made the ______ day of ________.
________________________________________________ (insert the name, address etc. of “the Vendor”) of the one part,
________________________________________________( insert the name, address etc. of “the Purchaser”)of the other part.
WITNESSES that IN CONSIDERATION of the sum of Rs. ____________ now paid to the Vendor by the Purchaser (the receipt of which sum the Vendor hereby acknowledges) THE VENDOR as beneficial owner HEREBY ASSIGNS unto the Purchaser ALL THAT policy of assurance in the [Insurance Company] on the life of the [Vendor] dated etc. and numbered _________ of the sum of Rs. _______ [with profits] payable on the death of the [Vendor] [or on the ______day of ________ whichever first happens] at the annual premium of Rs. _________ payable on the ______ day of _______ in each year TOGETHER with all moneys assured thereby and all bonuses and other moneys which may become payable in respect thereof and the full benefit thereof TO HOLD UNTO the Purchaser absolutely [SUBJECT to the payment of all future premiums thereon] [AND THE VENDOR COVENANTS with the Purchaser that the policy hereby assigned is now valid and in full force and that the Vendor will not do omit or knowingly suffer anything whereby the policy may become void or voidable or the Purchaser or any one claiming title through him be prevented from receiving the money thereby assured or any bonus or addition thereto].
IN WITNESS, etc.
[Signatures of both parties]