What Is Irrevocable Assignment Of Life Insurance? 
That is a great question ! In insurance speak , an `` assignment '' means that something has been transferred to someone else . An `` irrevocable assignment '' means that transfer is permanent , and can not be undone . So an `` irrevocable assignment '' of a life insurance policy means that the policy is transferred from one party to the ownership of another . That second party now has the rights to change the beneficiaries , and all other rights that go with the ownership of the policy . I hope that helps - thanks for asking ! 