Assignee

What Does Assignee Mean?

An assignee is a person or organization that receives a right through a transfer.

Insuranceopedia Explains Assignee

In transfers of rights that could significantly impact one party’s life, both parties may be required to agree to the assignment. For example, if a lender requires a portion of the borrower’s income as a condition of a loan, the borrower must willingly consent, as this condition will affect their financial status.

In the context of insurance, the assignor can transfer the benefits of an insurance policy to an assignee as collateral for a loan.