Lic Of India Reassignment Form 3857 Jun 2026

When a policy is assigned, the original nomination is cancelled by law. Reassignment does not automatically reinstate the old nominee. Once Form 3857 is registered, you must fill out a fresh Nomination Form (Form 3750) to appoint a nominee. Failure to do so means the policy will have no nominee, causing severe claim settlement delays for your family in the future.

: Must include the policy number, date of original assignment, and the sum assured to avoid processing delays. Critical Documentation Original Policy Bond

(Aadhaar Card, PAN Card, and passport-size photographs). lic of india reassignment form 3857

The policy automatically reverts to the policyholder if they survive the term or pay off the loan. However, LIC still requires a clear, written endorsement to update their official records.

: A formal statement that the assignee reassigns all rights, benefits, and advantages of the policy back to the original assured. Signatures and Witnesses When a policy is assigned, the original nomination

According to Section 38 of the Insurance Act, 1938, a reassignment executed by an endorsement on the policy bond itself does not attract additional stamp duty.

: Self-attested ID and address proof for the assignee and witness. Failure to do so means the policy will

Here are answers to some common queries regarding Form 3857:

A development authority or government body releases the policy held against a property booking. Key Components of LIC Form 3857