What Is Assigning Life Insurance?
Readers Question: A most recent Life Insurance question came from Bobbi who lives in Austin, Texas. “What Is Assigning Life Insurance?”
Answer to Readers Question: An example of assigning Life Insurance is if a court orders you to assign your life insurance to a former spouse. Another example is if you were terminally ill, you could assign a viatical company who would pay you a portion of the policy and after your death the company would receive the benefits. Anyone thinking about doing this should of course consult a family lawyer or financial advisor.
Category: Austin, Texas
