Form 3857: Lic Of India Reassignment

If the form is lost before submission, download a new one. If the registered reassignment certificate is lost after processing, file an FIR and submit an indemnity bond with LIC to get a duplicate.

Submitting Form 3857 is a critical financial transaction. Any mistake can lead to rejection or delays. Follow this step-by-step guide:

Sometimes, assignments are done by mistake or without understanding the consequences. In such cases, a reassignment can undo the error.

When we talk about Life Insurance Corporation (LIC) policies, the conversation usually revolves around premium amounts, maturity benefits, or claim settlements. Rarely does anyone get excited about paperwork. But what if I told you that a single, seemingly mundane form—Form 3857—holds the key to flexibility, liquidity, and strategic financial planning? lic of india reassignment form 3857

Meet the Assignment / Re-Assignment Form.

LIC Form 3857 isn't just bureaucratic fluff. It is a financial tool that turns your life insurance policy from a static savings plan into a dynamic, negotiable asset. Whether you are borrowing against it, restructuring family wealth, or reclaiming what is yours, this form is your legal bridge.

So, the next time your LIC agent hands you a stack of papers, don't glaze over Form 3857. It might just be the most powerful signature you make that year. If the form is lost before submission, download a new one

Pro Tip: Always keep a photocopy of the signed and witnessed Form 3857 for your records, and request an endorsement from the LIC branch on your policy bond document confirming the assignment.

It is easy to confuse these three forms. Here is a quick comparison table:

Remember: You cannot use Form 3857 for nomination changes. For nominee updates, use Form 3818.

Reassigning a policy using Form 3857 involves coordination between the borrower, the lender, and LIC. Here is the typical workflow: