The validity of the form hinges on proper execution.
The first section of the form requires basic policy identification. In the top box, the assignor must write the full (without any mistakes) and the Sum Assured (the basic cover amount, excluding bonuses). This information must match the original policy bond exactly. Below this, the Name and Address of the Assignor should be written as recorded in LIC’s records. If the name has changed due to marriage, a supporting legal document (like a marriage certificate or gazette notification) is required separately. how to fill lic reassignment form 3857
In the repaid to us by field, enter the Full Name of the Original Policyholder . The validity of the form hinges on proper execution
This section acts as the absolute release deed where the lender (assignee) states they have received their money and are returning the policy. This information must match the original policy bond exactly
To facilitate this, LIC utilizes Form 3857, officially titled the "Form of Re-assignment." Filling out this form correctly is crucial to ensuring that the policyholder regains full rights and ownership of their policy without administrative delays. This essay provides a comprehensive guide on how to accurately complete LIC Form 3857.