The correct answer is D. All of the above.
Under an absolute assignment, the assignee will have all rights of the assignor. This means that the assignee can deal with the policy in any manner, including selling it, transferring it, or using it as collateral. Under a conditional assignment, the policy will revert back to the assignor on the happening of an event. This could be something like the death of the insured or the maturity of the policy.
It is important to note that an assignment of a life insurance policy is not always effective. In order for an assignment to be valid, it must be in writing and signed by both the assignor and the assignee. The assignment must also be delivered to the insurance company. If these requirements are not met, the assignment may not be enforceable.
If you are considering assigning your life insurance policy, it is important to speak with an attorney to discuss your options. An attorney can help you understand the risks and benefits of an assignment and can help you draft a valid assignment agreement.