Assignee

Published:

Definition - What does Assignee mean?

An assignee is a person or organization that is the recipient in the transfer of a right.

Insuranceopedia explains Assignee

In transfers of right that could affect one party in a serious area of life, then both parties might be required to agree to the assignment. For example, if a lender requires a portion of the borrower's income as a condition of a loan, the borrower must willfully consent to it since the condition will affect their financial status.

In the context of insurance, as assignor can transfer the benefits of insurance to an assignee as collateral for a loan.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.