Resources. Sun Life collateral assignment form; American Banking Association collateral form; Sun Life collateral assignment release form; Photo Credit Thinkstock. Group Variable Universal Life is issued by The Prudential Insurance Company of America and distributed through Prudential Investment Management Services LLC ( PIMS ). Can you use your life insurance as a collateral to your loan? You can! Know more about the collateral assignment of life insurance by contacting us today! ASSFOR 115 E1514 HOW TO PREPARE THIS FORM 1. ORIGINAL AND DUPLICATE FORMS: The original form should be completed and sent to USFL. A duplicate will be acknowledged at. Start Here - Choose a product or service from the menu on the left side of this page. You can also access your MyForms and MySearches in the upper left hand. A collateral assignment of a life insurance policy is a document by which a borrower pledges a life insurance policy as collateral for a loan. RELEASE OF MORTGAGE. The undersigned, _____, of _____, hereby certifies that the mortgage, dated _____, 20. ASSIGNMENT OF PROCEEDS OF LIFE INSURANCE POLICY. In consideration of the agreement of Rich & Thompson Funeral Service, Inc. to conduct. the funeral and/or services of Form 6.3 ASSIGNMENT OF LIFE INSURANCE POLICY AS COLLATERAL Assignee: _____ _____ _____ Policy Number: _____ In today’s marketplace having a partner for processing your lien release must be compliant, accurate, efficient, and cost effective. UPF Services works with its.