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Transfer a life insurance policy to a lender as collateral for a loan with this Assignment of Life Insurance Policy form for the UK. The lender has the sole right to collect any proceeds payable under the policy. The lender is at liberty to surrender the policy and receive any distributions, dividends or surplus. The assignor retains the right to collect disability benefits, designate or change beneficiaries, and elect for optional settlement. This United Kingdom Assignment of Life Insurance Policy form is provided in MS Word format and is fully editable.