Form 3857 Best: Lic Of India Reassignment

Once the form is filled out and the required documents are gathered, policyholders can submit the LIC of India Reassignment Form 3857 to the LIC office. Here are the steps to follow:

, officially known as the “Reassignment Form,” is used to transfer the rights, title, and interest of a life insurance policy from one person (the assignee) back to the original policyholder (the assignor) or to another eligible person.

Is your policy assigned to or to an outside bank ? Do you already have the original policy document in hand? lic of india reassignment form 3857

The bank's authorized signatory must sign the form across the revenue stamp (if applicable) and place the bank’s official rubber stamp.

Unlike modern digital forms, LIC Form 3857 has a specific old-school ritual. Here is the cheat sheet: Once the form is filled out and the

Once the form is correctly filled and signed, the final step is to submit it to the right authority.

When you take a loan from a bank or LIC itself, your policy document is often assigned to the lender. This means the lender becomes the "Assignee" and holds the rights to the policy benefits until the loan is cleared. Do you already have the original policy document in hand

When you take a loan against your policy, you "assign" it to the lender. Once the loan is settled, the lender uses Form 3857 to "reassign" those rights back to you. Ownership Transfer:

The Branch Manager, LIC of India, [Branch Code/Address]

By following the steps and guidelines laid out in this comprehensive guide, you can ensure a smooth, legally compliant reassignment of your LIC policy, securing your financial arrangements exactly as you intend.

No. LIC of India does not charge any administrative fee or processing charge for registering a reassignment under Section 38 of the Insurance Act.