The two types of assignments in a life insurance policy are:

The two types of assignments in a life insurance policy are indeed absolute and collateral. An absolute assignment transfers complete ownership of the policy from the policyholder to another individual or entity. This means the new owner has full rights to the policy, including the right to change beneficiaries, take out loans against the policy, and ultimately receive the policy's death benefit.

On the other hand, a collateral assignment allows the policyholder to use the policy as collateral for a loan. In this arrangement, ownership of the policy remains with the original policyholder, but the lender has a claim to the death benefit up to the amount owed on the loan. Once the loan is repaid, the rights revert fully to the policyholder.

Understanding these types of assignments is crucial in managing life insurance policies effectively, particularly in financial planning and securing loans. The other options do not accurately represent types of assignments related to life insurance policies.