Form E.....help!

[SnugglyBedSocks]

I am currently filling in this form bit there are a couple of sentances I don't understand.

In the policy section...

"If policy is assigned, state in whose favour and amount of charge"

What does this mean?

It will usually be relevant if you have an endowment mortgage and the policy is assigned so that if one of you dies the money goes straight to the lender rather than the survivor.

If you aren't aware of the policy being assigned, then it probably isn't.

Many thanks. It's in relation to my critical illness policy. There is no surrender value to it.

I can't imagine you'd have assigned that without knowing!

So it does mean who does the pay out go too?