used by the Life Insurance Corporation of India. It is primarily used to legally transfer the ownership of a policy back to the original policyholder after it was previously assigned to another party, such as a bank for securing a loan. Core Content of Form 3857
Self-attested KYC documents of the policyholder (Aadhar Card, PAN card, etc.).
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? lic of india reassignment form 3857
A reassignment is not legally valid without a proper witness. The witness must see the assignee sign the form and provide their own: Full Signature Name and Designation Full Address Step-by-Step Guide to Filling and Executing Form 3857
LIC Form 3857 isn't just bureaucratic fluff. It is a financial tool that turns your life insurance policy from a static savings plan into a dynamic, negotiable asset. Whether you are borrowing against it, restructuring family wealth, or reclaiming what is yours, this form is your legal bridge. used by the Life Insurance Corporation of India
A: No, the form needs to be submitted to the LIC office in person or by post.
Download the PDF file and print it on clean, white A4 paper. Transferring the policy to a bank or housing
as security for a loan; once the debt is cleared, this form facilitates the "re-assignment" back to the owner. Formal Notification : Serves as a formal notice to the LIC Manager of the Policy Servicing Department to register the change in their records. Execution Requirements Standard Format
Download the official LIC Reassignment Form 3857. Fill in the policy details accurately. The text must explicitly state that the assignee is reassigning all rights, titles, and interests back to the original life assured. Step 3: Execution by the Assignee
The LIC of India Reassignment Form 3857 can be submitted at any time during the policy term. However, it is recommended that policyholders submit the form well in advance of the policy maturity date or before any changes in the policy circumstances.