Lic Of India Reassignment Form 3857

The unique LIC policy number and the name of the life assured.

The form typically consists of two main parts: the formal reassignment statement and the notice of reassignment.

Once your loan is closed, request a "No Dues Certificate" or "Loan Closure Letter" from your bank or lending institution. Step 2: Prepare Form 3857 lic of india reassignment form 3857

To legally transfer the ownership rights/benefits of your LIC policy to another party (e.g., a bank for a loan).

The LIC Reassignment Form No. 3857 is a powerful legal instrument for transferring the ownership of a life insurance policy. While it is a straightforward process, it is crucial to approach it with care, ensuring the form is filled out completely and accurately and all required documents are attached. The unique LIC policy number and the name

LIC will verify the signatures and update their master records. They will stamp an endorsement of reassignment on the back of your original policy document and return it to you. The policy ownership is now officially yours again. Required Documents Checklist

When you conditionally assign a policy to a bank, any previous nomination made by you is automatically cancelled by law (except when assigned to LIC itself for a policy loan). When the policy is reassigned to you via Form 3857, the old nomination does not automatically revive . You must file a fresh nomination using LIC Form 3750 to ensure your dependents are protected. Step 2: Prepare Form 3857 To legally transfer

Reclaiming your LIC policy requires coordination between you, your lending bank, and the LIC branch office. Follow these steps to ensure a smooth transition: