Question

In which of the following types of assignment does the assignee become the owner of the policy?

Answer 1

In an absolute assignment, the assignee becomes the owner of the policy.

Step-by-step explanation:

In an assignment, where the assignee becomes the owner of the policy, it is known as an absolute assignment. This type of assignment transfers all rights and ownership of the policy to the assignee. The original policyholder no longer has any control or rights over the policy, and the assignee can make changes and receive the benefits of the policy.