Absolute Assignment Of

ABSOLUTE ASSIGNMENT OF LIFE INSURANCE POLICY This Absolute Assignment is made on _________________ (dd/mm/yyyy) between 1. The Assignor (Policyholder): _________________________________________________________ __________________________________________________________________________________; and (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) 2. The Assignee: ____________________________________________________________________ ___________________________________________________________________________________ (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) 3. The Policy No: ___________________________________________ issued by NTUC Income Insurance Cooperative Ltd ("NTUC Income") 4. Consideration: S$ ______________________________________ (the Payment) In consideration of the Payment made by the Assignee, I / We*, the Assignor, sell, assign and transfer to the Assignee absolutely all benefits, interest, property and rights in the Policy including the full benefit of all money assured or to become payable by or under the Policy inclusive of its cash surrender and loan value and of any bonuses and dividends (collectively "the Full Benefits") that may be declared upon the Policy from time to time. I/We* agree with the Assignee that I/We* will not do or cause anything to be done which may result in the Policy becoming void or voidable or which prevents the Assignee from receiving or be deprived of the right to receive the Full Benefits under the Policy. I/We* further agree that a receipt signed by the Assignee shall be a full and effectual discharge of all NTUC Income's liabilities and obligations under the Policy in respect of which the receipt is given. Signature of Assignor (Policyholder): Signature of Assignee: For entity, affix entity stamp and indicate: Name of authorised signatory: NRIC / Passport No: Signature of Witness: For entity, affix entity stamp and indicate: Name of authorised signatory: NRIC / Passport No: Signature of Witness: Name: NRIC No: * Delete where applicable Name: NRIC No: NOTE: If the Policy contains a declaration of trust or a clause which vests the Policy in the life assured at a specified age, the life assured will, upon attaining the specified age, automatically take over all rights and obligations under the Policy as the absolute policy owner. Upon vesting of the Policy in the life assured, the assignee's rights under the Policy will be automatically terminated. If you are an assignee of a policy with a vesting provision, we advise that you check with NTUC Income's Life Insurance Department regarding your rights before accepting this assignment. DISCLAIMER: This is a specimen form. NTUC INCOME does not accept any liability or responsibility arising from your use or reliance of this form, or, for the validity or legality of this assignment. Please consult a lawyer as to the suitability of the form for use in your particular circumstances 06/2009 ABSOLUTE ASSIGNMENT (ANNEX) The following must be completed and returned together with the Absolute Assignment of Life Insurance Policy Form. The Assignor (Policyholder): _________________________________________________________________ __________________________________________________________________________________________ (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) The Assignee: _____________________________________________________________________________ __________________________________________________________________________________________ (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) Relationship: _____________________________________________________________________________ Reason for assignment: ____________________________________________________________________ ____________________________________________________________________ Signature of Assignor (Policyholder): Signature of Assignee: For entity, affix entity stamp and indicate: Name of authorised signatory: NRIC / Passport No: Date: For entity, affix entity stamp and indicate: Name of authorised signatory: NRIC / Passport No: Date: Note: Please enclose a clear copy of NRIC (front and back) / Passport of the assignee, assignor , authorized signatory with the absolute assignment and annex forms. For entity, please also enclose the following: 1. A copy of the latest ACRA Business Profile/ROS Annual Returns; 2. An authorisation letter from the entity if the authorised signatory is not one of the following persons listed in the ACRA Business Profile/ROS Annual Returns: - Sole Proprietor - Director - Shareholder - Chairman/Vice Chairman - Treasurer - Partner For NTUC Income insurance advisers: If you have assisted in the submission of the absolute assignment and annex forms, please initial on the copies of the assignor, assignee, authorised signatory’s NRIC / Passport. Thank you. 06/2009 NOTICE OF ASSIGNMENT To: NTUC Income Insurance Cooperative Limited 75 Bras Basah Road NTUC Income Centre Singapore 189557 Attention: Life Insurance Department I refer to the attached copy of the assignment forms. I give you notice of the absolute assignment of the following life insurance Policy issued by NTUC Income Insurance Cooperative Limited: Policy No.: _____________________________ Date of Assignment: __________________ (dd/mm/yyyy); between 1. The Assignor (Policyholder): ____________________________________________________________ ____________________________________________________________________________________; and (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) 2. The Assignee: ________________________________________________________________________ _____________________________________________________________________________________ (For individual, state Name and NRIC/Passport No and address; For entity, state entity name, Unique Entity Number (UEN) and address) Please acknowledge receipt of this notice in writing. Signature of Assignee: _____________________________________________________ (For Entity, affix entity stamp also) Name of Assignee: _______________________________________________ (For Entity, indicate name of authorised signatory) Contact Number/s: _____________________________________________________ Date: _________________________ 06/2009