tiktok³ÉÈ˰æ

Deed Of Assignment Life (Insurance) Template for Hong Kong

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Deed Of Assignment Life (Insurance)

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Deed Of Assignment Life (Insurance)

"I need a Deed of Assignment Life (Insurance) to transfer my life insurance policy to my daughter as a gift, with the assignment to take effect from March 1, 2025; the policy is with AIA Hong Kong with a sum assured of HKD 2 million."

Document background
The Deed of Assignment Life (Insurance) is a crucial legal instrument used in Hong Kong for transferring ownership rights in life insurance policies. It is commonly required in situations such as policy sales, gifts to family members, or collateral arrangements with financial institutions. The document must comply with Hong Kong's Insurance Ordinance (Cap. 41) and the Conveyancing and Property Ordinance (Cap. 219), ensuring proper execution as a deed. This document includes essential details about the policy, parties involved, consideration (if applicable), and required notifications. It's particularly important in Hong Kong's financial sector, where life insurance policies are frequently used in wealth management and estate planning strategies. The deed must be properly stamped under the Stamp Duty Ordinance to be admissible in Hong Kong courts.
Suggested Sections

1. Parties: Identifies the Assignor (current policy owner) and Assignee (new policy owner), including their full names, addresses, and identification details

2. Background: Sets out the context of the assignment, including reference to the existing life insurance policy and the intention to assign

3. Definitions: Defines key terms used throughout the deed, including 'Policy', 'Insurance Company', 'Assignment Date', and other relevant terms

4. Details of Policy: Specifies the life insurance policy details including policy number, date of issue, sum assured, and insurance company

5. Assignment: The operative part that legally transfers all rights, title, and interest in the policy from assignor to assignee

6. Assignor's Warranties: Warranties from the assignor regarding ownership, right to assign, and absence of encumbrances on the policy

7. Assignor's Covenants: Promises by the assignor to do all necessary acts to perfect the assignment and not to revoke or alter the policy

8. Notice Requirements: Requirements for giving notice of the assignment to the insurance company

9. Execution: Formal execution block including signature spaces, witness details, and execution date

Optional Sections

1. Consideration: Required when the assignment is for value rather than a gift, stating the amount paid for the assignment

2. Consent of Life Insured: Required when the life insured is different from the assignor and their consent is needed

3. Spousal Consent: Required when the policy is considered matrimonial property or when required by the insurance company

4. Power of Attorney: Optional clause granting the assignee power to deal with the policy directly

5. Governing Law and Jurisdiction: While Hong Kong law is assumed, this section may be included for clarity, especially if parties are from different jurisdictions

6. Tax Declarations: Optional section addressing tax implications of the assignment when relevant

Suggested Schedules

1. Schedule 1 - Policy Details: Detailed schedule of the insurance policy including all relevant policy information, terms, and conditions

2. Schedule 2 - Form of Notice: Template notice to be sent to the insurance company informing them of the assignment

3. Schedule 3 - Supporting Documents: List of required supporting documents such as ID proofs, relationship proof, etc.

4. Appendix A - Consent Forms: Standard forms for various consents required (if applicable)

5. Appendix B - Insurance Company Requirements: Specific requirements or forms required by the particular insurance company for policy assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses

























Relevant Industries

Insurance

Financial Services

Legal Services

Wealth Management

Estate Planning

Banking

Professional Services

Relevant Teams

Legal

Compliance

Risk Management

Insurance Operations

Wealth Management

Estate Planning

Policy Administration

Document Management

Client Services

Financial Advisory

Relevant Roles

Insurance Agent

Financial Advisor

Legal Counsel

Wealth Manager

Estate Planner

Insurance Underwriter

Compliance Officer

Risk Manager

Policy Administrator

Trust Officer

Banking Relationship Manager

Insurance Operations Manager

Legal Secretary

Notary Public

Financial Services Consultant

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Deed Of Assignment Life (Insurance)

A Hong Kong law-governed deed that legally transfers ownership rights of a life insurance policy from an assignor to an assignee.

find out more

Deed Of Cancellation Of Agreement For Sale

A Hong Kong law-governed deed that formally cancels an existing Agreement for Sale and releases all parties from their obligations under the original agreement.

find out more

Deed Of Appointment Trust

A Hong Kong law-governed deed that formally appoints new trustees and/or retires existing trustees of a trust, ensuring proper transfer of trust assets and responsibilities.

find out more

Deed Of Assignment Of Copyright

A formal legal document under Hong Kong law that transfers complete copyright ownership from one party to another, including all associated rights and interests.

find out more

Deed Of Assignment Loan Agreement

A Hong Kong law-governed document combining a loan agreement with security assignment provisions to create a secured lending arrangement.

find out more

Deed Of Assignment Life Policy

A Hong Kong law-governed deed that transfers ownership rights of a life insurance policy from an Assignor to an Assignee, including all necessary legal and regulatory provisions.

find out more

Deed Of Assignment By Way Of Security

A Hong Kong law security document that transfers rights over assets as collateral through assignment, typically used in financing arrangements.

find out more

Deed For Sale Of Property

A deed governed by Hong Kong law that formally documents and executes the sale and transfer of real property from seller to buyer.

find out more

Deed Of Contract To Sell

A Hong Kong law-governed deed documenting the formal agreement between parties for the sale and purchase of property, ensuring legal transfer of ownership and protecting parties' interests.

find out more

Confirmatory Assignment Of Intellectual Property Rights

A Hong Kong law-governed document that confirms and formalizes a previous transfer of intellectual property rights between parties.

find out more

Deed Of Assignment For Property

A legal document under Hong Kong law that transfers property ownership from a seller (assignor) to a buyer (assignee), requiring registration with the Hong Kong Land Registry.

find out more

Deed Of Assignment Of Shares Of Stock

A formal legal document governed by Hong Kong law that transfers share ownership from one party to another, requiring execution as a deed and proper stamping.

find out more

Deed Of Assignment Of Rental Proceeds

A Hong Kong law-governed deed that legally transfers the right to receive rental income from a property owner to another party, typically used as security for financial obligations.

find out more

Deed Of Assignment Of Receivables

A Hong Kong law-governed deed that transfers rights to receive payments or other performances from an assignor to an assignee, commonly used in financing and debt trading.

find out more

Deed Of Assignment Of Equitable Interest

A Hong Kong law deed that transfers beneficial or equitable rights in property or assets from one party to another, commonly used in property and financial transactions.

find out more

Deed Of Assignment Of Beneficial Interest

A Hong Kong law-governed deed that transfers beneficial ownership rights from an Assignor to an Assignee while maintaining the existing legal title structure.

find out more

Deed Of Assignment And Transfer Of Rights

A Hong Kong law-governed deed that formally transfers rights, property, or assets from an Assignor to an Assignee, with full legal protections and warranties.

find out more

Deed Of Assignment And Assumption

A Hong Kong law-governed deed that facilitates the formal transfer of rights and obligations from one party to another, executed with specific legal formalities required for deeds.

find out more

Assignment Of Lease Deed

A Hong Kong law-governed deed that legally transfers lease rights and obligations from an existing tenant to a new tenant, subject to local property regulations and registration requirements.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.