Once the loan is fully repaid, the lender transfers the policy rights back to you (the original Policyholder/Assignor).
Submitting Form 3857 alone is not enough to update LIC's registry. You must submit a complete document package to your home LIC branch: lic of india reassignment form 3857
Filling out the LIC of India Reassignment Form 3857 is a straightforward process. Here are the steps to follow: Once the loan is fully repaid, the lender
If you pledge your LIC policy to a commercial bank or financial institution for a home or personal loan, the bank acts as the assignee. Upon full loan closure, the bank must execute this form to release the policy. 3. Reversal of Absolute Assignment Here are the steps to follow: If you
: Both the assignor (current owner) and the assignee (new owner) must sign the form. These signatures must be witnessed
: Self-attested identification for the assignee and witness may be required depending on the branch's specific validation needs. You can download a template for LIC Form 3857 from authorized repositories or obtain it directly from your nearest LIC Branch Office supporting documents
The name and official stamp/signature of the bank, financial institution, or individual who currently holds the policy rights.
Once the loan is fully repaid, the lender transfers the policy rights back to you (the original Policyholder/Assignor).
Submitting Form 3857 alone is not enough to update LIC's registry. You must submit a complete document package to your home LIC branch:
Filling out the LIC of India Reassignment Form 3857 is a straightforward process. Here are the steps to follow:
If you pledge your LIC policy to a commercial bank or financial institution for a home or personal loan, the bank acts as the assignee. Upon full loan closure, the bank must execute this form to release the policy. 3. Reversal of Absolute Assignment
: Both the assignor (current owner) and the assignee (new owner) must sign the form. These signatures must be witnessed
: Self-attested identification for the assignee and witness may be required depending on the branch's specific validation needs. You can download a template for LIC Form 3857 from authorized repositories or obtain it directly from your nearest LIC Branch Office supporting documents
The name and official stamp/signature of the bank, financial institution, or individual who currently holds the policy rights.