Definitions for "Endorsement method"
The method of changing a policy's beneficiary or owner which requires that the policy itself be returned to the insurer so that the change can be recorded directly onto the policy.
A method of policy ownership in a split-dollar plan, under which the employer is the nominal policy owner, and the employee's rights are spelled out in a special endorsement to the policy. May be contrasted with the "collateral assignment method."
A method of changing the beneficiary of a life insurance policy. The change may be made in one of two ways: (a) The policyowner returns the policy to the insurance company, and the insurer attaches the endorsement with the name of the new beneficiary to the policy, or (b) the policyowner does not send the policy to the insurer but only requests the change by letter or telephone, and the insurer sends an endorsement with the change to the policyowner. Contrast with recording method.