Policy Assignment - A better alternative to Policy Surrender

Surrender the Policy
  • ❖ Policy holder gets surrender value of the policy
  • ❖ No further insurance benefits
  • ❖ No further income to the Advisor
Assign the Policy
  • ❖Policy holder gets amount equal to surrender value of the policy as consideration towards assignment
  • ❖ Insurance benefits continue till maturity of the policy

For hassle-free policy assignment

Who we are?

ACESO is the first and only market maker company in india providing solutions by way of Assigment of LIC Endowment Insurance Policies since 2002.

We specialize in Endowment of life insurance policies issued by LIC of India:

  • - Which have either lapsed due to non-payment of premiums or
  • - Which are in the process of being surrendered due to inability of policy holder to continue servicing of the policy.

Why choose us?

  • Has helped service policies worth over 205 Million
  • Highly Skilled Staff, Well trained & efficient.
  • Combination of end-to-end policy assignment & servicing functional expertise right up to maturity claim of a life policy.
  • 20+ years of experience
  • In depth knowledge on Insurance plans and products offered by LIC of India.
  • ACESO has a solid in-house actuarial expertise, coupled with the necessary legal experience covering the entire spectrum of service.
  • Over 10,000 policies served

What is Assignment Clause of LIC Endowment Policy?

Assignment of life insurance policy is the process in which the policyholder legally transfers the rights of life insurance policy to another person for various reasons. The process of transfer is known as an Assignment.

Assignment Clause is expressed in section 38 of the Insurance Act,1938.

Check your eligibility for LIC policy assignment

Policies under the following plans are eligible for assignment:

Frequnecty Asked Questions (FAQs)

1) What is an endowment policy?
A - LIC endowment policy is designed as a means of Investment to provide life cover as well as return on Maturity. Under these contracts the policyholder makes a regular payment (premium) usually monthly or annually to the Life Assurance Company. At the end of the term of the policy a lump sum is payable to the policyholder.

2) Assignment of policy
A - Policy holders can assign the policy for a consideration, to meet their immediate financial needs and obligations.

3) How should I assign a policy to the custodian?
A - Policy holder submits original Policy copy and executes deed of assignment, in favour of a Trust (for custody), managed by a Professional Trustee company. These documents, along with notice of assignment, are lodged with LIC of India for registrering the assignment.

4) What information do you need to provide to know a Valuation?
A - Endowment policy number
Date of Commencement
Policy premium
Type of endowment policy / PLAN NO
Maturity Date
Basic Sum Assured

5) How long does the process take?
A - Having made the decision to monetise and assign the policy, ACESO will complete all necessary formalities so that the Policy Holder would receive consideration immediately on completion of all requested documentation.

However, we are largely dependent upon the lodgment of policy and registration of such assignment by the issuing Life Assurance Company. This process has an Average completion time of about 7 working days.

6) Will ACESO charge me for this service?
A - ACESO does not charge a fee for providing these service.

ACESO just acts as a facilitator to the poilcy holders by enabling them to get higher valuation to meet their financial needs and additionally their nominees will get certain financial benefits in the event of the Policy holder's death. ACESO earns its income, directly through the Trust which acquires the policy from the Policy Holder.

7) Why would you want to assign the policy to a Custodian?
A - The assignment to a Custodian, which is a Professionally managed Trustee company, assures the policy holder that the financial benefits which have been assured at the time of assignment, are paid by the the Insurer to their nominees, in the event of death of the policy holder, as specified in the Trust deed.

8) What are the risks of assigning my endowment policy, prior to maturity on account of Lapsation or surrender ?
By submitting your endowment policy details to ACESO, we are simply providing you better valuation than what you would receive from the insurer, to meet your immediate financial needs and also take care of your future premium payments after assignment of the policy. Thus assignment done through ACESO, assures the policy holder that in the event of their death , their nominees / heirs, get assured financial benefits received from the Insurer, which would otherwise be extinguished by the insurer on surrender and termination of their policy.

9) What happens when I assign the said policy to a Trustee company:
A - ACESO will acknowledge receipt of all required documents and also get the policy Holder to sign the Deed of Policy Assignment.
ACESO will confirm with the LIC of India and verify all policy details provided by the policy holder. ACESO services are subject to confirmation of the policy details provided being correct.
Upon receipt of confirmation of the policy details from the LIC of India and documents, a series of due diligence checks are carried out. In case any further information or document is required ACESO gets in touch with the Policy Holder for completing the same.
Payment are issued directly into the bank account of the policy holder.

10) What documents are required?
A - Normal KYC documents of the policy holder Like Aadhar Card, PAN Card etc. for verification of identity and proof of address. Original Policy document
All other documents required for processing the assignment with the Insurer company.

11) What if I am not satisfied with your service?
A - ACESO always aim that a policy holder gets better and higher financial benefits on assignment besides quick and client services. However Despite our best efforts, you still feel that your experience in dealing with us has not reached your expectations, we will be extremely eager to Resolve your grievances, which we will try to resolve to our best of abilities. You may get in touch with us by phone or email. Press here for details of how to get in touch with us.

12) What is the eligibility for policy assignment?
Life Policies Should be Endowment Policies of LIC of India where premiums have been paid for over 6 years.

13) What expertise ASESO carries in LIC Policy Assignment?
ACESO and its group companies have been around for over 20 years in which time we have been quietly built a reputation as the only the Insurance. Company endowment policy service providers and managers in India. ACESO has built its business on the knowledge and skills of our specialist team and professional standards. During this time, the ACESO team has applied their knowledge around the asset class, to build formidable servicing capabilities that run from simple policy assignment services, through to asset valuation, and full fund structuring and management.

ACESO has developed highly comprehensive systems designed specifically to manage varied ENDOWMENT Life Settlement policies. Our controls have been developed into a workflow systems, which run on state of art system platforms and technologies.This allows ACESO to deliver a consummate service which ensures that policies are properly administered in line with the requirements of policy owners. A key benefit of our systems are that they are tuned in line with the requirements of policy owners looking into processing e_ciencies that allow us to deliver a fully rounded services.Coupled with cutting-edge technical abilities and team-based knowledge structure at ACESO, our clients are assured of a robust policy servicing experience, and you can be confident that your Life Settlement policies are in very safe hands.