Lic Of India Reassignment Form 3857 |work| -
Download LIC Form 3857 or get it from your local LIC branch. Take this form to your bank. The bank’s branch manager or authorized officer must execute the reassignment by signing the form and applying the bank's official rubber stamp. Step 3: Arrange for a Witness
Do you need to after this reassignment is complete? Share public link
Once the loan is fully repaid, the lender transfers the policy rights back to you (the original Policyholder/Assignor).
If your policy was assigned to a bank or financial institution, request a or NOC along with the original policy document once your loan is closed. Step 2: Download and Fill Form 3857 lic of india reassignment form 3857
These are the standard forms for reassigning policy ownership rights.
The signature must be witnessed by an eligible individual (usually an LIC agent, development officer, branch manager, or a notary public) with their name, address, and signature. Step-by-Step Process to Reassign Your LIC Policy Follow these steps to ensure a smooth reassignment process: Step 1: Obtain the No Objection Certificate (NOC)
You transfer your policy rights to another party (e.g., a bank for a housing loan or a family member as a gift). Download LIC Form 3857 or get it from your local LIC branch
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.
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.
If you are currently filling out this paperwork, let me know if you need help with , want to know where to find your servicing branch , or need the fresh nomination guidelines . Share public link Step 3: Arrange for a Witness Do you
: It serves as a formal record that legally transfers all associated rights, protecting the interests of both parties.
I am assigning the above policy in favor of as per the loan agreement dated [Date] for a consideration of ₹[Amount]. The assignment is conditional and shall be reassigned to me upon full repayment of the said loan.
