You previously assigned the policy to a family member or third party and now wish to revert the ownership. Key Components of Form 3857
Submit the duly filled and signed Form 3857 along with the and any other required documents to the LIC branch that services your policy. LIC will then verify the documents, record the reassignment in its registers, and paste an endorsement on the original policy document indicating the reassignment of ownership.
cancels that transfer and returns all rights, title, and interest back to you. Common Scenarios Requiring Form 3857
Download the PDF file and print it on clean, white A4 paper. lic of india reassignment form 3857
: Ensure all signatures match those currently on record with LIC to avoid processing delays.
Reassignment usually happens in the context of an "Absolute Assignment," where the ownership is formally returned from an assignee (like a bank or financial institution) to the assignor (the original policyholder). Key Components of the Form The form is concise but requires precise information:
The financial institution issues a clearance certificate and must legally sign off on the policy document. You previously assigned the policy to a family
Ensure you have the following documents ready before visiting the LIC branch: Completed (signed and stamped by the lender)
Transferring the policy as a gift or sale to a family member, where the assignee becomes the absolute owner.
Most policyholders ignore Form 3857 because they don't plan to give their policy away. But understanding this form opens up three powerful opportunities: cancels that transfer and returns all rights, title,
Ensure you have the following before you begin:
The form must be completed carefully to avoid rejection by LIC.
To understand the role of Form 3857, it is essential to first understand the lifecycle of policy assignment. 1. What is Assignment?