What Does Assignment Clause Mean?

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What does Assignment Clause mean? Read on to discover the definition & meaning of the term Assignment Clause - to help you better understand the language used in insurance policies.

Assignment Clause

Assignment Clause

Provision in a life insurance policy that allows assignment of insurance to a third party (such as a lender) as a collateral. Life insurance policies are freely assignable, but casualty and property policies are not.

We hope the you have a better understanding of the meaning of Assignment Clause.

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