One can transfer his or her title, rights and interest in a life insurance policy to another entity by assigning it. This is generally done for providing security against a loan or securing the financial interest of the other individual. Once the life insurance policy is assigned, the assignee will get the benefits from it. The policyholder has to send the assignment form to the insurer, mentioning the policy details that have to be assigned. Along with this, the individual needs to send the original policy and assignee's KYC documents. The assignment can be endorsed on the life insurance policy copy or a notarized assignment, confirming it can be executed.