Wortformen:(present) assigns a policy, (past) assigned a policy, (perfect) assigned a policy, (progressive) assigning a policy
(Insurance: Life insurance) If you assign a policy, you transfer legal ownership of an insurance policy to another person. ▶ policy
⇒ The policy may be assigned to someone else by written request of the current owner. ⇒ Since a whole life policy has a cash value component, it may be considered an asset;
but assigning the policy to a trust means that it can no longer be considered an asset for that individual. ⇒ If you assign a policy, you transfer legal ownership of an insurance policy to another person.
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