Which of the following terms refers to the transfer of some or all of the ownership rights of a life insurance policy from one individual to another?

The correct term that refers to the transfer of some or all of the ownership rights of a life insurance policy from one individual to another is assignment. An assignment can be either absolute or collateral, allowing the policyholder to transfer their rights to another person or entity, which can include the ability to change beneficiaries, access cash values, or receive death benefits. This is an important feature of life insurance policies, as it provides flexibility for the policyholder to adapt their policy ownership according to their needs or circumstances.

In contrast, the other terms don't accurately represent this concept. Nonforfeiture refers to provisions that prevent the policyholder from losing the benefits or values accumulated in the policy if they stop paying premiums. An endorsement is a document that amends the terms of the insurance policy but does not pertain to ownership transfer. Transfer for value relates specifically to an arrangement where a life insurance policy is sold or transferred for payment, impacting the tax implications for the new owner, which is a different concept than outright assignment of ownership rights. Thus, assignment is the most appropriate choice for this scenario.