ASSIGNMENT OF POLICY OF LIFE INSURANCE FOR LOVE AND AFFECTION

THIS ASSIGNMENT made at ……………on this …………day of …… 20 ………
between A son of Shri ………resident of ……………(hereinafter called the Assignor) of ONE PART and
Mrs. B wife of Shri A ….. resident of …………… (hereinafter called the Assignee) of the OTHER
PART.
WHEREAS
(1) [P1]The assignor is insured with the Life Insurance Corporation of India ………under being No
……………dated …………for a sum of a policy of to be paid to the assignor on maturity or to his
nominee, heirs, executors, administrators or assigns after his death.
(2) [P2]The assignor has paid all the premium up to date on the said policy of life insurance and the same
is valid and is in full force.
(3) [P3]The assignor has proposed to assign, transfer and assure unto the assignee the said policy of Life
Insurance in consideration of his love and affection for her being his wife and the assignee has accepted
the said proposal
NOW THIS DEED WITNESSES THAT
In[P4] consideration, of natural love and affection which the assignor has for his wife the assignee herein,
the assignor as beneficial Owner does hereby transfer and assign unto and to the use and for the benefit
of the Assignee, the said policy of life insurance together with all the bonuses, advantages, rights and
benefits thereof to be had, recovered or obtained Under the said policy: to hold the same unto and to the
use of the assigned absolutely, AND
The[P5] assignor covenant with the assignee that the said policy is at present valid and in force and he
will not. do, execute or perform or knowingly suffer any thing ,to the contrary whereby the said policy may
become void or voidable or the asisignee be prevented from receiving the money thereby assured or any
bonus, benefit or advantage thereunder.
IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands
the day and year first hereinabove written.
WITNESSES
1 Signed and delivered by A, the within named assignor
2. Signed and delivered by Mrs. B, the within named assignee

[P1]Assignor Insured by a policy LIC
[P2]Policy valid and In full force
[P3]Assignor agreed to assign the policy to assignee
[P4]Assignment of policy
[P5]Assignor’s covenant