What Does It Mean To Assign Life Insurance? 
Great question ! An `` assignment '' allows you to promise over the benefits of your policy . there are a couple of reasons why you might want to do this . Most commonly , you 've purchased to policy for a child who now is well enough off to be able to care for themselves and can assume responsibility for the policy and its payments . You would assign the ownership of the policy to them , and at that point they take over the payments , and you relinquish any rights to the policy , beneficiary choice , etc. . Another popular reason is to ensure that your funeral arrangements are what you wish for them to be . You can go to some funeral homes , and `` prepay `` for your service and thethings needed for your burial . You will need to take your beneficiary along , as they will need to sign also , but when the time comes , the funeral home is paid out of the policy , and there are no unpleasant `` hat passing '' problems . If you would like more information , please contact me , I 'm happy to help . Thanks for asking ! 