Assignment of Proceeds — Group (F.S. 627.552–.571)

Persons insured under a Florida group life policy may assign all or part of their ownership (F.S. 627.552–.571) — including the privilege of having an individual policy issued (the conversion privilege) and the right to name a beneficiary.

A group member can sign their incidents of ownership — even the conversion right and beneficiary power — over to someone else.