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Assignments & Cessions

Stage Description Comments
1.

Read the "Guide to the Legal Implications of Assignment."

Click here for "Guide to Legal Implications"

 
2.

Deed of Assignment (Full change of ownershp)

Complete relevant Deed of Assignment form.

Click here for the form in PDF format. This form should be used for the following product providers:
OMG
OMIG
OMII
OMHK

 

The date that the Deed of Assignment was made must be completed on page 1. All current and future owners must be shown as either Assignors or Assignees.

At the bottom of page 1, the current owner/s of the policy must sign as the Assignor/s and their signature/s must be witnessed by an independent party on page 3. The name and address of the witness should be shown where specified.

The new owner(s) of the policy must then sign the form as the Assignee(s) and again an independent party must witness their signatures.

With effect from 1st January 2002 all Deeds of Assignment must be accompanied by Certified ID of an assignee (i.e. to whom ownership is passing).

For assignments to companies/corporate bodies, an authorised signatory list will be required together with certified ID of each signatory.

 3.

Security Cession (No change in ownership).

Click here for the form in PDF format. (See instructions below)

Click here to send an e-mail or phone us on + 44 1481 726726.

 

The Policyholder may assign interest in the whole of the Policy as collateral security.

This ensures recognition of interest in the proceeds of a Policy, which does not involve a
change to Policy ownership.

Security cession to a South African resident (natural person) cannot be accepted.

If there are 20 separate policies in issue, this request will apply to all 20 separate policies.

All switch & encashment requests during the period of a security cession must be approved/ endorsed
by the Third Party whose financial interests are represented by the cession. A Security Cession will
only be recorded if the Company is notified in writing, in a form acceptable to the Company. 

 4.

Send the completed form to Old Mutual at:

Albert House,
South Esplanade,
St Peter Port,
Guernsey, GY1 1AW
Channel Islands

Mark for the attention of the Policy Servicing Section.

 5.

Old Mutual will action the Deed of Assignment/ Security Cession. Once actioned, an endorsement will be sent to the new owner/s of the policy. This should be kept
in a safe place together with the Policy Document. A copy of the endorsement is also sent to your Adviser.

Our standard turnaround time is 5 - 10 working days from receipt depending on the
type of Deed received.

Please note:- If a policy is being assigned to a Bank, the Bank will often provide their own form and send this to us. In these instances they also
provide a copy which we sign and stamp and send back to them.

Please note:-
Although we endeavour to issue the documentation to you as quickly as possible,
delays may be experienced with the different postal services in various countries.

 
PDF
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For instructions on how to download Acrobat Reader, click here.

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