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How is a transfer of ownership of a life insurance policy to a viatical company recorded?

April 26, 2017COMPANY Life Insurance ownership policy recorded transfer viatical

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How is a transfer of ownership of a life insurance policy to a viatical company recorded?

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The viator signs a form to make an absolute assignment of the policy. Absolute assignment means all ownership rights are transferred to the buyer. The form is sent to the insurance company which will notify you and the buyer when the assignment has been completed.