What is Assignment (Insurance)? | LIFE-HEALTH Exam Prep

Assignment is the transfer of some or all policy rights from the policyholder to another party, commonly used for collateral assignments (securing loans) or absolute assignments (permanent transfer of ownership). 📚 Learn more about Assignment (Insurance) and other key terms for your LIFE-HEALTH exam at Open Exam Prep. 🎯 This term appears on: LIFE-HEALTH 🔗 Full glossary: https://www.open-exam-prep.com/glossary 🔗 Assignment (Insurance) definition: https://www.open-exam-prep.com/glossary/assignment 💡 Exam Tip: Collateral = temporary, for loans. Absolute = permanent transfer. Assignment transfers ownership rights, not just beneficiary designation! --- #insurance #examprep #financeexam #life-health