Pennsylvania Assignment of Insurance Policy

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					                                                       Assignment of Insurance
Docstoc Legal Agreements

                            This Assignment of Insurance Policy affects the transfer of policy of
                            insurance along with incidental legal and beneficial rights from the holder /
                            Assignor to the lender/ Assignee.

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                                                                                                Attorney Drafted
                          ASSIGNMENT OF INSURANCE POLICY

BE IT KNOWN, for value received, the undersigned ________________________
[Instruction: Insert the name of Policy Holder/Assignor] hereby irrevocably transfers and
assigns to ________________________________ [Instruction: Insert the name of the person
to whom insurance policy is assigned/Assignee] all legal and beneficial right, title and interest
in and to the within policy of insurance standing in my name and known as Policy No.
___________________ [Instruction: Insert the policy number] issued by the
__________________ [Instruction: Insert the insurance company name] Insurance Company.

The undersigned also assigns all cash values, proceeds and benefits thereto arising, subject to the
conditions of said policy and the requirement of the issuing underwriter:

The undersigned warrants that it has full authority to transfer said policy, and shall execute all
further documents as may be required by the underwriter.

This assignment shall be binding upon and inure to the benefit of the parties, their successors,
assigns and personal representatives.

Signed this ____ [Month] ____ [Date], 20____

In the presence of:

____________________________                                   ____________________________
      Assignor Signature                                              Witness Signature

____________________________                                   ____________________________
      Assignor Name                                                    Witness Name

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Description: This is an agreement whereby a party that is currently insured (the �Assignor�) wholly transfers their rights under an insurance policy to a third party (the �Assignee�). This is an irrevocable transfer of all legal and beneficial rights, title and interest in an insurance policy. After execution, the Assignor no longer has rights or benefits under the insurance policy. This document is ideal for small businesses or individuals located in Pennsylvania who want to transfer their rights under an insurance policy.
This document is also part of a package Essential Pennsylvania Legal Documents 86 Documents Included