Changing the Owner of a Policy
An ownership change will transfer rights, title and interest in a policy from the current policy owner(s) to another party. The current policy owner can change ownership at any time during the life of the insured. We encourage you to talk with your insurance professional to discuss the options available to you.
You can print the form, and fax or mail it to Customer Service. For our phone number/mailing address, please visit our Contact Us section.
If your change is complex or if you would like additional assistance, please contact Customer Service.
Notifying Lincoln that a Policy has Been Assigned
The policy owner can collaterally assign a policy. Collateral Assignments are frequently used as equity in securing a loan. It is the policy owner's responsibility to notify the company that a policy has been assigned. Lincoln will file the policy assignment. The recorded assignment will restrict the policy owner's rights. Lincoln will update correspondence records and send appropriate correspondence to the assignee if the policy is in danger of lapsing. The assignment will remain on the policy until the assignee provides a written release.
Lincoln accepts the standard American Banking Association (ABA) Assignment form. However, if you prefer, you may contact Customer Service and one of our associates will provide you with a Lincoln Collateral Assignment form. A confirmation will be sent when an assignment is filed.
Notifying Lincoln that a Policy's Assignment has Been Released
The Collateral Assignment remains on a policy until the assignee notifies Lincoln that the assignment is no longer required. Lincoln will record the Release of Policy Assignment upon proper notification. The Release of Assignment will remove the ownership restrictions.
Lincoln accepts the standard American Banking Association (ABA) Release of Assignment form. However, if you prefer, You can print a Lincoln Release of Assignment form, and fax or mail it to Customer Service. A confirmation will be sent when an assignment is released.