The signature of the authorized signatory of the bank, along with the official institutional seal, and the signature of at least one witness. Step-by-Step Process to Reassign Your LIC Policy
Must be signed by the Assignee (lender) in the presence of witnesses.
Take the form to your lender or the LIC loan department. The authorized signatory must sign and stamp the reassignment clause. Step 4: Submit to the Home Branch lic of india reassignment form 3857
A: No, the form needs to be submitted to the LIC office in person or by post.
Any scratches or overwriting on the form will lead to immediate rejection by LIC administration. The signature of the authorized signatory of the
By properly executing LIC Form 3857, you secure your financial legacy, reinstate your nominees, and ensure that future maturity or survival benefits flow directly into your bank account without legal hurdles. To help tailor this guide further, let me know:
Ensure the witness writes out their full address and designation clearly. Illegible witness blocks spark compliance flags. Frequently Asked Questions (FAQs) How long does it take for LIC to process a reassignment? The authorized signatory must sign and stamp the
The reassignment of a policy can be done for various reasons, such as:
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
The form consists of specific legal declarations that must be filled out accurately to avoid rejection.
: Submit the completed deed along with the original policy document to your LIC Servicing Branch .