Assignment is the transfer of interest under the policy either absolutely or conditionally by the Assignor (policyholder) to the Assignee. A policyholder may make a transfer or assignment of a policy at any time, by way of endorsement on the policy itself or by a separate instrument in writing. After an assignment of a policy is made, all nominations made in relation to such policy before such assignment shall stand cancelled.

The documents required for assignment are:
• Assignment form duly signed by assignor and assignee 
• Self attested address proof, Identity proof,  PAN no./Form 60/61/49a of assignee
• Recent photograph of assignee
• Premium (if applicable)

Note: Only NOC required from bank ( in case of Reassignment of policies earlier assigned to Bank)