Deed of assignment: life or endowment policy on divorce

This deed of assignment transfers the rights to an insurance policy or endowment policy to your former spouse or partner. Use by agreement or by order of the Court. Use to transfer all you own, whether all or half share.
  • Solicitor approved
  • Plain English makes editing easy
  • Guidance notes included
  • Money back guarantee
About
Preview
Why from us
Ask a question

About this deed of assignment for a life insurance policy

Use this deed of assignment to transfer a life insurance policy to a former spouse or life partner. The transfer will be complete and valid only when the insurer has been formally notified. As well as the deed document, we have included a template notice for that purpose.

We offer a simpler version of this document if you are a trustee assigning the policy to a beneficiary: Deed of assignment: life or endowment policy by trustees.

If you are selling or buying a policy for money, use a similar document which you will find at  Deed of assignment: life insurance policy or endowment policy.

Completing this deed of assignment

For technical legal reasons, all assignments of life policies must be by deed and not signed by hand. The main practical difference is that a deed requires a witness to the signatures. Unless it is more convenient to do otherwise, the same witness can verify the signatures of both parties.

Taxation of life assurance policies is complex and we recommend that you consult with a tax accountant. The effect of tax is also an important consideration in assessing the value to the assignee of the policy.

Document features and contents

The deed of assignment includes the following paragraphs:

  • Warranties by the assignor;
  • The assignment;
  • Dispute resolution;
  • Severance and invalidity;
  • Form: Notice of Assignment to deliver to the insurer and bank.
Draftsman

This document was written by a solicitor for Net Lawman. It complies with current Irish law.

What Our Clients Say
  • "I will certainly be advertising your company to other business colleagues.

    The lease was like picking up an old favourite novel and understanding everything from the first turn of the page. So easy to read and complete, what a joy and your site was recommended to me by another colleague.

    Hope this brings a smile to your face knowing you are making business life easy for people and furthermore the price was just as pleasing.
    "

    Eileen L (Introsports Limited)
  • "I appreciate your patience. I have to say though it took me a while (I had almost given up) to come across your internet site, but I was quite impressed with the manoverabilty of the site itself and the services it offers. Normally I am very cautious about internet services and am pleasantly impressed by you professional response. Without doubt I will defintely be recommending yourselves to others."

    Razwana
  • "I hate any kind of legal documents so dreaded what lay ahead of me when I downloaded your document. However, what I found was a wonderfully easy and user-friendly document that could be very easily tailored to suit my needs...the notes were very easy to follow. I now have my privacy document.

    So my feedback: superb...so easy and user-friendly.

    Eric Dempsey
    www.birdsireland.com"

    Eric Dempsey