How To Fill Lic Reassignment Form 3857 ((link))

The form consists of two primary sections: the and the Form of Reassignment . 1. Notice of Reassignment (Top Section)

Enter the in the day, month, and year fields. how to fill lic reassignment form 3857

: The policyholder (Assignor) signs to acknowledge the reassignment. The form consists of two primary sections: the

Clause 3 deals with . The assignor must acknowledge that after assignment, they have no further rights to the policy benefits (like taking a loan or surrendering the policy) unless the assignment is later revoked. Crucially, the assignor remains liable to pay future premiums if the assignee fails to do so, unless a separate agreement states otherwise. For a bank loan, the bank usually takes over premium payment responsibility; however, the assignor should confirm this with the bank before signing. : The policyholder (Assignor) signs to acknowledge the

In the repaid to us by field, enter the Full Name of the Original Policyholder .

The form contains a standard legal preamble which states that the Assignor (the bank/lender) is the registered holder of the policy and wishes to reassign it. The applicant must fill in the date of the original assignment and the name of the Assignor (Bank). This establishes the chain of custody and confirms that the entity transferring the policy back is the same one that received it originally.

Upon submission, LIC will verify the form. If filled correctly, LIC will register the reassignment. The policy status in the online portal will update from "Assigned" to "Reassigned" or simply reflect that the policy is now held by the life assured. The endorsement regarding the reassignment is usually made on the policy bond itself.