Most versions of Form 3857 explicitly state that the wording should be filled directly on the printed guide but instead copied onto the back of the original policy bond or a separate stamp paper of appropriate value. Block Letters: All entries must be made by the policyholder in BLOCK LETTERS Signature & Witnessing:
Do you have the in your possession?
A: The LIC of India Reassignment Form 3857 is a document that allows policyholders to reassign or transfer their life insurance policy to another person. lic of india reassignment form 3857
Life insurance policies are valuable financial assets. Beyond providing risk cover, they offer liquidity through assignments. If you have absolutely assigned a Life Insurance Corporation (LIC) of India policy to a bank or a lender for a loan, you will need to reassign it back to your name once the debt is fully paid. This is where becomes essential.
Do you need assistance drafting a to submit to the LIC branch manager? Share public link Most versions of Form 3857 explicitly state that
Often, an assignment cancels previous nominations. It is highly recommended to submit a fresh nomination form alongside your reassignment. Crucial Tips and Common Mistakes to Avoid
If you assigned your policy to a family member as a gift or to a trust for specific purposes, and if that arrangement is legally terminated, you need reassignment to bring ownership back to you. Life insurance policies are valuable financial assets
LIC will verify the bank's signatures against their records. Once satisfied, LIC will register the reassignment in their systems, endorse the back of your original policy bond, and return the bond to you. Important Tips and Precautions
Submit the following bundle to your home LIC branch (where the policy is serviced): Completed and signed . Original Policy Document (the policy bond). NOC / Loan Clearance Letter from the bank. KYC documents (PAN card, Aadhaar card) of the policyholder.