Lic Of India Reassignment Form 3857 Jun 2026

This is the most common use case. You took a loan from a bank or financial institution by assigning your LIC policy as collateral. Once you repay the loan in full, the bank (assignee) must execute a reassignment using Form 3857 to return the policy’s rights to you.

(Self-attested PAN card, Aadhaar card, or Passport).

Transferring the policy to a bank or housing finance company as collateral for a loan (e.g., home loan, business loan). During this period, the loan provider holds the rights to the policy survival and death benefits. 2. What is Reassignment?

The assignee’s signature on Form 3857 must match the signature on the original assignment (Form 3855). Banks often have signatory changes – ensure the same authorized person signs or provide a board resolution for change in signatory. lic of india reassignment form 3857

Once processed, verify that LIC has placed a physical reassignment stamp on the back of your original policy bond. To help tailor any further guidance, please let me know:

The unique identification number of the LIC policy being reassigned. Name of the Assignor: The original policyholder (you).

The official signature and stamp of the Assignee (e.g., Bank Manager's signature and bank seal). This is the most common use case

of requisite value or endorsed on the back of the policy bond. licindia.in Common Pitfalls to Avoid Incomplete Information

on Scribd to identify other necessary documents like nomination or assignment notice forms. Official LIC Download Page for the most current versions of claim and servicing forms. full legal wording

: The form requires the signatures of the assignees (current owners) and a witness to validate the transfer. Typical Use Cases Loan Security (Self-attested PAN card, Aadhaar card, or Passport)

To understand reassignment , it is necessary to first understand assignment . Under Section 38 of the Insurance Act, 1938, a policyholder (the Assignor) can transfer the rights, title, and interest of their insurance policy to another person or institution (the Assignee).

is the official document used by institutional assignees (like banks, cooperative societies, or housing finance corporations) to reassign a conditionally assigned life insurance policy back to the insured person.