It is easy to confuse these three forms. Here is a quick comparison table:
A declaration statement by the Assignor (the bank or lender) stating that they have received all due amounts and are reassigning all rights, titles, and interests in the policy back to the original policyholder. 3. Signatures and Execution
List the sum assured mentioned in the policy document.
Understanding LIC of India Reassignment Form 3857: A Complete Guide lic of india reassignment form 3857
[Your Address] [City, PIN Code]
The reassignment must be witnessed. The witness can be an LIC agent, an LIC official, or any competent neutral party. The witness must sign the form and provide their full address. Step 4: Submission to LIC Branch
Must be clearly visible and legible over the manager's signature. Must match exactly with the original policy bond. Witness Name, signature, and address must be completely filled out. Nomination Submit a fresh nomination form along with Form 3857. It is easy to confuse these three forms
The Branch Manager, LIC of India, [Branch Code/Address]
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
: You want to regain the right to change nominees, surrender the policy, or take a loan directly from LIC. Signatures and Execution List the sum assured mentioned
Form 3857 is a legal instrument used for the .
LIC Form 3857 is the official legal document used to reassign a life insurance policy back to the original owner (the assignor) from the entity or person who currently holds the rights (the assignee).
The is the standard document used for the reassignment of a life insurance policy, typically from an institution (like a bank) back to the original policyholder after a loan has been fully repaid. Core Purpose of Form 3857
Before submitting to LIC, ensure the bank or financial institution has officially canceled their charge on the policy. LIC will not accept Form 3857 without the lender’s stamp and signature.