DESIGNATION OF BENEFICIARY FOR YOUR LIFE INSURANCE (Dependent Life Insurance is payable as specified in the Certificate). How to fill out the Assignment Policy Form for Life Insurance?1. Identify the policy and the assignee details. 2. Once you have found the right loan, you must fill out the collateral assignment form. Your insurer will be able to provide you with this form easily. If the Collateral Assignment is to be released, the Assignee must complete a collateral release form dated prior to the Absolute Assignment.