Submit the documents to the LIC branch that handles your policy servicing.
Yours faithfully,
To understand reassignment , it is necessary to first understand assignment . Under Section 38 of the Insurance Act, 1938, a policyholder (the Assignor) can transfer the rights, title, and interest of their insurance policy to another person or institution (the Assignee). lic of india reassignment form 3857
The form consists of specific legal declarations that must be filled out accurately to avoid rejection.
The reassignment must be witnessed by a competent person. Eligible witnesses include LIC agents, LIC development officers, branch managers, bank officials, or a notary public. Submit the documents to the LIC branch that
Fully signed and stamped by the lender.
Your policy continues to accumulate updates and loyalty bonuses even while assigned; full claim benefits return to you instantly upon reassignment registration. The form consists of specific legal declarations that
of the form to copy onto your document, or do you need help locating a specific LIC branch for submission?
You cleared a home loan, personal loan, or education loan for which your LIC policy was pledged as collateral.
Reclaiming your LIC policy requires coordination between you, your lending bank, and the LIC branch office. Follow these steps to ensure a smooth transition: