An absolute assignment is a term that describes a situation where a policy owner transfers a portion of her rights.
Absolute Assignment refers to the transfer of all present and future property rights, titles, interests, and events of ownership (all rights, benefits, and liabilities) about the assigned group insurance coverage by the assignor in an irrevocable manner to the assignee (s). The assignment maker is referred to as the assignor. The Assignor is the one who assigns the rights, while the Assignee is the one to whom the rights are being assigned.
There are two forms of assignment: Conditional Assignment and Absolute Assignment.
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