Assignment of Insurance is the irrevocable transfer of ownership of the employee’s FEGLI coverage to another individual, corporation, or trustee. Employee will need to complete the RI 76-10 form in order to assign insurance to another party. Once the insurance has been assigned, the employee continues to pay premiums. Employees may wish to assign insurance in order to comply with court orders, name a former spouse as a beneficiary, pay off debts, or other reason.