This is when a right to a benefit is transferred from one person to another. (An example is the ownership of a life insurance policy or the right to retirement benefits).

see assignment

Absolute Assignment is the transfer of right to a benefit from one person to another. It gives the recipient—the transferee—the rights that the owner or holder of the property—the transferor—had prior [..]

An assignment by which a property owner permanently transfers all of the ownership rights in a particular property to another party.

The transfer of ownership of a life insurance policy to a separate entity. The assignee becomes the new policy owner. Commonly used when banks require life insurance as collateral for a loan.

Assignment by a policyowner of all control of and rights in the policy to a third party.

Re-assignment of beneficiary and owner