A policy can only be assigned to a new owner(s) by the current legal policy owner(s). You can download the request form at the bottom of this page.
The deed you are requesting can only be used to assign your policy by gift or as a result of divorce. This form must not be used if you are assigning your policy in return for money or the value of goods or services being provided - if you intend to assign your policy in this way you will need to get a deed from a solicitor or legal stationer.
Please note: We require a separate Request Form for each individual policy you wish to assign. This form does not transfer the ownership of the policy at this stage, as the form is a request for a deed only.
Please make sure that you fully complete the Request Form, and include all of the information below:
Policy number;
Full name and address of the policy owner (Assignor) or both policy owners (Assignors) if it is a joint owned policy;
Full name and address of the new owner (Assignee or Assignees if to be jointly assigned);
Tick as applicable - by gift/as a result of divorce.
If your policy is already assigned, deposited or held as an interest only charge with another financial institution, we will require written agreement from the financial institution to transfer the ownership of the policy.
When we receive the completed Request Form, we will then send a draft Deed of Assignment to the current policy owner(s) with a covering letter explaining how to complete the deed. If you have any doubt concerning the suitability of the draft deed you receive, you should seek independent legal advice.
On completion of the Deed of Assignment (unless you are the Assignee or Joint Assignee) you will lose interest in and control over, the policy. The policy will become the absolute property of the new owner (Assignee) and we will not send you any further information about it.
If you are assigning your policy to an individual(s) other than your spouse, there may be a potential tax liability now, or in the future. We recommend that you consult your tax adviser.
Please send the completed request form and any supporting documentation to Pearl Centre, Lynch Wood, Peterborough PE2 6FY.
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Check List
Before you send us your request form, please ensure that you have:
Completed the request form in full;
Included you policy number on the request form;
Signed the request form;
Used the correct mailing address (above);
Provided written authority to transfer the ownership of the policy from any other relevant financial institution (if applicable).
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