DEED OF ASSIGNMENT OF POLICY OF LIFE ASSURANCE

This assignment made the…………day of……….between AB of, etc. (assignor), of the one part, and CD of etc. (assignee), of the other part.
Whereas a policy of assurance being No..................for Rs............was issued by the Life Insurance Corporation of India on the life of the assignor on the ................day of........to be paid to the assignor on maturity or to his nominee or heirs, the executors, administrators or assigns after his death, subject to payment of the annual premium of Rs……..and whereas the said AB has agreed to transfer and assign unto and in favour of the said CD the said policy of assurance for a sum of Rs……..
Now this deed witnesses that in consideration of the sum of Rupees……….paid by the said CD the receipt whereof the said AB does hereby admit and acknowledge, the said AB does hereby transfer and assign unto and to the use and for the benefit of CD the above recited policy of assurance together with the benefit of the said sum of Rs..............thereby assured and all the other moneys, profits, benefits and advantages thereof to be had, recovered or obtained under or by virtue of the said policy: To have and to hold the same unto and to the use of the said CD absolutely, subject to the conditions as to payment of future premiums and otherwise to be henceforth observed in respect of the said policy: and the said AB hereby covenants with the said CD that he, the said AB, shall not do, execute or perform or knowingly suffer anything to the contrary whereby or by reason or means whereof the said policy may be rendered void or voidable, or the said CD or his heirs, executors, administrators or assigns may be prevented from receiving the said sum of Rs......................................or any benefit or advantage thereunder.
In witness whereof the parties herein have signed these presents on the day, month and year first above-written.

Signed, sealed and delivered by AB
the assignor in the presence of:

Signed, sealed and delivered by CD
the assignee in the presence of: