There is a great deal of uncertainty and confusion in the decided cases in regard to the effect to be given to the assignment of a life insurance policy. This is unfortunate, since to a large extent life insurance has come to be regarded as an investment medium, and as an asset which can be hypothecated by the insured in times of financial emergency.
Grover C. Grismore,
THE ASSIGNMENT OF A LIFE INSURANCE POLICY,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol42/iss5/3