Lic Of: India Reassignment Form 3857

The LIC Form 3857 is the official document used to reassign a life insurance policy back to the original policyholder (the "assured") after it was previously assigned to another party, such as a bank for a loan. 📝 Key Review Points

• Name and address of the assignee (e.g., the bank or individual who currently holds rights).
• This person/entity must sign the form.

• The Trap: An NOC just says "We don't mind if you handle the policy." It does not legally transfer the ownership back.
• The Form 3857 Solution: Filing this form with LIC updates the master record. It ensures that if you check your policy status online a year later, it says "Assigned to: [Your Name]" or "Not Assigned," rather than still showing the bank's name.

The Life Insurance Corporation of India (LIC) provides a facility to its policyholders to reassign or transfer their insurance policies to another person. This can be done through the LIC Reassignment Form 3857. In this article, we will provide a detailed overview of the form, its purpose, and the process of filling it out. lic of india reassignment form 3857

The LIC Reassignment Form 3857 is required in the following situations: The LIC Form 3857 is the official document

: Depending on the specific case, LIC may require the reassignment wording to be copied onto a proper stamp paper Name and address of the assignee (e

Section D – Reassignment Declaration:

Estate Planning: Transferring policies between family members for inheritance purposes.