what is an assignee on life insurance
President and Senior Agent, Outlook Life, Most of the U.S. The Assignee in Life Insurance is the person, organization, business, or other entity to whom the policy proceeds are assigned. E.g. The assignee may be a lender who will receive the death benefit upon the death of the person owing the debt. However, the assignee only receives the remaining debt that is owed to them; the excess of the life insurance proceeds go to the beneficiary listed on the policy.