Lic Of India Reassignment Form 3857

The form requires specific details to be legally binding and recognized by LIC: Absolute Reassignment - Lic New Delhi

: The signatures of the assignor and assignee must be witnessed by a person competent to contract (who is not a party to the assignment). lic of india reassignment form 3857

When you take a loan from a bank or LIC itself, your policy document is often assigned to the lender. This means the lender becomes the "Assignee" and holds the rights to the policy benefits until the loan is cleared. The form requires specific details to be legally

: Ensure signatures match those already on record with LIC to avoid validation issues. Authentication : Ensure signatures match those already on record

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.

To complete the reassignment process, policyholders need to submit the following documents along with the filled-out form: