How To Fill Lic Reassignment Form 3857 Extra Quality -

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.

Next to reassign unto , write the Full Name of the Assured (Policyholder) along with their heirs, executors, and administrators. Sum Assured & Policy Specifications: Input the exact Sum Assured value in rupees. Fill in the unique LIC Policy Number . how to fill lic reassignment form 3857

: The Assignee must sign this section again with an official seal. 3. Witness and Policyholder Details (Bottom Section) To facilitate this, LIC utilizes Form 3857, officially

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. Sum Assured & Policy Specifications: Input the exact