[DD/MM/YYYY]
The LIC Reassignment Form No. 3857 is a standardised document used to legally transfer the rights, title, and benefits of a life insurance policy from one person (the assignor ) to another person or entity (the assignee ).
, the policy rights remains with the lender. This means you cannot claim maturity benefits, take a new loan, or update nominees until the reassignment is officially recorded in LIC's books. licindia.in
One wrong digit can link the reassignment to a different policy. Double-check. lic of india reassignment form 3857
To understand reassignment, you must first understand assignment .
: Always ensure the bank's stamp and signature are clear. Smudged stamps can lead to rejection by LIC.
: The institution or person returning the policy (e.g., State Bank of India, HDFC Bank). [DD/MM/YYYY] The LIC Reassignment Form No
When you assign a policy, any previous nomination is automatically cancelled. Reassignment does not automatically restore your old nominee. Once Form 3857 is processed, you must fill out a fresh Nomination Form (Form 3750) to secure your beneficiaries.
LIC Reassignment Form 3857 is the official document used to transfer ownership of a life insurance policy back to the original policyholder after a loan has been repaid or a previous assignment has ended Key Features and Purpose Reversion of Rights
A statement confirming that the loan or obligation has been fully discharged, leaving no further liabilities. This means you cannot claim maturity benefits, take
Formally notifies LIC that a previously assigned policy has been reassigned to a new individual or entity.
To ensure a smooth processing experience with LIC, the form must be filled out accurately without errors or overwriting. Step 1: Obtain the Document
In simpler terms, after you have assigned an LIC policy (e.g., to secure a loan), you will need to use Form 3857 when you want to cancel that transfer and have the policy ownership restored in your name.
This public link is valid for 7 days and shares a thread, including any personal information you added. This link or copies made by others cannot be deleted. If you share with third parties, their policies apply. Can’t copy the link right now. Try again later.
The reassignment of a policy can be done for various reasons, such as: