Funeral Home

An absolute assignment of life insurance transfers every right in a policy to a new owner, permanently. This guide covers how it differs from collateral and proceeds assignments, what the form contains, and where it appears in the funeral profession. We process claims on absolutely assigned preneed policies the same way we fund at-need assignments.

An irrevocable assignment directs a set portion of a life insurance policy’s death benefit to the funeral home, and it cannot be undone once signed. This guide covers what irrevocable means, the limited power of attorney beside it, and how reassignment works. We follow up with the carrier daily until it confirms receipt of every transmitted assignment.

An assignment in insurance transfers legal rights under a policy from one party to another, usually with the insurer’s written consent. This guide covers the main types of assignment, the assignee’s role, and what a policy’s assignment provision requires. We handle assignment paperwork under power of attorney every day, so directors never untangle these terms alone.

A collateral assignment of life insurance pledges a policy as security for a debt, so the lender is paid first and the remaining benefit goes to the beneficiaries. This guide covers how collateral and absolute assignments differ and where funeral home assignments fit. We verify every policy the moment an assignment is received, including any assignments already on it.