Lic Of India Reassignment Form 3857 Free 〈SECURE – 2027〉

Filling out the LIC of India Reassignment Form 3857 is a straightforward process. Here are the steps to follow:

Life insurance policies are often taken out to secure the financial future of loved ones or to satisfy loan requirements. When a policy is pledged to a bank or financial institution to secure a loan, it is said to be "assigned" to that institution. lic of india reassignment form 3857

Life insurance policies are valuable financial assets. Beyond providing life cover, they can be bought, sold, or used as collateral for loans. In India, the Life Insurance Corporation (LIC) allows policyholders to transfer the rights of their policies through a legal process called assignment. Filling out the LIC of India Reassignment Form

| Feature | Form 3855 (Assignment) | Form 3857 (Reassignment) | Form 3818 (Nomination) | | :--- | :--- | :--- | :--- | | | Transfer ownership rights to another person. | Transfer rights back to original owner. | Appoint a person to receive claim amount. | | Direction | Policyholder → Assignee. | Assignee → Original Policyholder. | Policyholder → Nominee. | | When to use | Taking a loan, gifting a policy. | After loan repayment, canceling assignment. | At policy start or after life changes. | | Who signs | Assignor (Policyholder). | Assignee (Bank or person). | Policyholder. | Life insurance policies are valuable financial assets

The top section must identify the Assignee. If it is a bank, write the official name of the bank and the specific branch address (e.g., "State Bank of India, Connaught Place Branch"). Step 3: Specify the Policyholder (Assignor)