The LIC Reassignment Form 3857 is required in the following situations:
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
Depending on the state of registration, a nominal stamp duty might be required on the reassignment deed.
The exact date the transfer is being executed.
The witness must be a competent individual. LIC highly prefers signatures witnessed by: LIC Agents or Development Officers Branch Managers of any scheduled bank Gazetted Officers An LIC Class-I Officer Step 5: Submission to LIC Branch lic of india reassignment form 3857
Filling out the form correctly ensures that there are no delays in the processing of the reassignment. Here is a step-by-step guide:
Unlike modern digital forms, LIC Form 3857 has a specific old-school ritual. Here is the cheat sheet:
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.
Once your loan is repaid, request a Loan Closure Letter or No Objection Certificate (NOC) from your bank or lending institution. Step 2: Get Form 3857 Signed by the Lender The LIC Reassignment Form 3857 is required in
is the process where the Assignee transfers the policy rights back to the original policyholder. This usually happens when the condition of a conditional assignment is fulfilled, such as the full repayment of a housing or personal loan. What is LIC Form 3857?
To understand Form 3857, one must first understand the concept of assignment.
The legal process of returning policy ownership to the original owner. When Do You Need Form 3857?
The signatures of the assignee must be witnessed by an authorized individual, such as a gazetted officer, LIC agent, or bank official. The witness must be a competent individual
You cannot use Form 3857 for nomination changes. For nominee updates, use Form 3818.
The unique LIC policy number and the name of the life assured.
It is easy to confuse these three forms. Here is a quick comparison table:
The current holder of the policy (the bank or individual) must fill out and sign Form 3857.
Yes. You can download it for free from the official LIC of India website under the "Downloads" or "Forms" section. 2. Is there a fee for policy reassignment?
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.