Assignment And Agreement Form (Insurance) Template for Saudi Arabia

1. Premium Payment Arrangements: Used when there are ongoing premium payments to be addressed - specifies who will be responsible for future premium payments

2. Beneficiary Designation: Used in life insurance assignments when beneficiary arrangements need to be modified

3. Security Interest: Used when the assignment is for security purposes rather than absolute assignment

4. Claims Process: Used when specific arrangements for handling ongoing or pending claims need to be addressed

5. Regulatory Approvals: Used when specific regulatory approvals are required based on the type or value of policy being assigned

6. Zakat Considerations: Used when the assignment has implications for Zakat calculations and payments

1. Schedule 1 - Insurance Policy Details: Complete details of the insurance policy being assigned, including policy number, type, coverage amount, and current terms

2. Schedule 2 - SAMA Compliance Form: Standard regulatory form required by SAMA for insurance policy assignments

3. Schedule 3 - Identification Documents: Copies of required identification documents for both Assignor and Assignee

4. Schedule 4 - Premium Payment Schedule: Details of any outstanding or future premium payments

5. Appendix A - Consent Forms: Standard forms required for various consents, including insurance company consent

6. Appendix B - Shariah Compliance Certificate: Certificate from appropriate authority confirming compliance with Shariah principles if required