When you use a life insurance policy as collateral for a bank loan, the ownership rights are transferred to the lender. Once the loan is fully repaid, you must officially reclaim those rights using an (specifically Form No. 3857) to revert the policy benefits and ownership back to yourself. What is LIC Policy Reassignment?
Here is a comprehensive guide on how to handle the LIC Reassignment process. lic reassignment form pdf
The LIC reassignment form PDF is a standard document provided by LIC to facilitate the transfer of ownership of a life insurance policy. The form typically includes the following sections: When you use a life insurance policy as
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