A Deed of Assignment Life Policy is essential when transferring ownership rights of a life insurance policy in New Zealand. This document is commonly used in various scenarios including estate planning, business succession, family arrangements, or security for loans. The deed must comply with New Zealand's legal framework, particularly the Insurance (Prudential Supervision) Act 2010 and Property Law Act 2007. It includes crucial details such as policy specifications, parties' information, assignment terms, and any conditions or restrictions. The document requires proper execution as a deed, notification to the insurance company, and may need registration of the assignment. It's particularly important to ensure all regulatory requirements are met and that the assignment is properly documented to prevent future disputes or complications.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identifies the Assignor (current policy owner) and Assignee (new policy owner), including full legal names and addresses
2. Background: Sets out the context of the assignment, including details of the existing life policy and the intention to assign
3. Definitions: Defines key terms used in the deed, including 'Policy', 'Assignment Date', 'Insurance Company', etc.
4. Assignment: The operative clause that legally transfers the policy from Assignor to Assignee
5. Consideration: States the consideration (if any) for the assignment
6. Assignor's Warranties: Warranties from the Assignor regarding ownership, right to assign, and status of the policy
7. Notice and Registration: Requirements for notifying the insurance company and registering the assignment
8. Costs: Specifies who bears the costs of the assignment
9. Execution: Formal execution block meeting deed requirements under NZ law
1. Conditions Precedent: Used when the assignment is subject to specific conditions being met before becoming effective
2. Retention of Rights: Used when the Assignor wishes to retain certain rights under the policy
3. Reversionary Interest: Used when there are provisions for the policy to revert to the Assignor in certain circumstances
4. Third Party Consent: Required when third party approval (e.g., from a bank holding security) is needed
5. Life Assured Acknowledgment: Used when the life assured is different from the policy owner and needs to acknowledge the assignment
6. Trust Provisions: Required when the assignment is to trustees or involves trust arrangements
1. Schedule 1 - Policy Details: Detailed description of the life policy being assigned including policy number, sum assured, and premium details
2. Schedule 2 - Existing Assignments or Encumbrances: List of any existing assignments, charges or encumbrances affecting the policy
3. Appendix A - Copy of Policy Document: Copy of the original policy document to be attached
4. Appendix B - Insurance Company Assignment Form: Any specific assignment forms required by the insurance company
5. Appendix C - Consent Documents: Any required third-party consent documents or regulatory approvals
Find the exact document you need
Deed Of Covenant On Assignment Of Lease
A New Zealand legal document that binds a new tenant to the terms of an existing lease when the lease is being transferred, creating direct contractual obligations between the landlord and new tenant.
Download
Deed Of Assignment Of Goodwill
A New Zealand legal document that formally transfers a business's goodwill and associated intangible assets from one party to another.
Download
Deed Of Assignment Of Rental Income
A New Zealand law-governed deed that legally transfers the right to receive rental income from property from one party to another.
Download
Deed Of Assignment Of Property
A formal legal document under New Zealand law that transfers property ownership rights from one party to another, serving as a binding agreement for property assignment.
Download
Deed Of Assignment Life Policy
A New Zealand legal document that transfers ownership and benefits of a life insurance policy from one party to another, executed as a deed under NZ law.
Download
Deed Of Assignment By Way Of Security
A New Zealand legal instrument that creates a security interest by assigning specific assets or rights from an assignor to an assignee as collateral.
Download
Deed Of Assignment Of Shares
A New Zealand law-governed deed that formally documents and executes the transfer of shares from one party to another, ensuring legal compliance and proper documentation of ownership change.
Download
Deed Of Assignment Of Land
A New Zealand law-compliant deed that legally transfers land ownership from one party to another, meeting all requirements under NZ property law.
Download
Deed Of Trust And Assignment Of Rents
A New Zealand law-governed deed that establishes a trust structure and assigns rental income, typically used for security or investment purposes.
Download
Deed Of Assignment Of Loan
A New Zealand law-governed deed that transfers all rights and obligations under a loan agreement from one party to another, ensuring legal compliance and continued enforceability.
Download
Deed Of Assignment And Transfer Of Rights
A New Zealand law-governed deed that formally transfers rights, assets, or property from an Assignor to an Assignee, ensuring legal compliance and enforceability.
Download
Confirmatory Deed Of Assignment
A New Zealand law-governed deed that formally confirms and reinforces a previous assignment of rights, property, or obligations, providing additional legal certainty to the original transfer.
Download
Assignment Of Lease Deed
A New Zealand legal document that transfers lease rights and obligations from an existing tenant to a new tenant, with the landlord's consent.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 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
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it