How To Fill Lic Reassignment Form 3857 |best| May 2026

Next, the section requires the assignor to declare their intention to assign the policy absolutely. The standard phrasing is printed: “I/We hereby absolutely assign the above policy...” The assignor must then write the Name, Address, and Occupation of the assignee. If the assignee is a bank branch, write the full branch name, address, and its PAN or CIN number. This section must also specify whether the assignment is with or without survivorship . “With survivorship” means if multiple assignees are named and one dies, the policy rights automatically pass to the survivor(s). For a single bank or individual, this clause is typically marked as “Not Applicable.”

The signature section is the most legally binding part. The assignor must sign in the presence of . The witnesses must be adults (not family members of the assignor, preferably neutral third parties like colleagues or neighbors). Each witness must sign, print their name, and provide their full address and occupation. The assignor does not need to sign in front of a Notary Public for LIC purposes, but the witnesses’ signatures are mandatory. how to fill lic reassignment form 3857

Before putting pen to paper, it is essential to understand the two parties involved: the (the original policyholder who is transferring the rights) and the Assignee (the person, bank, or institution receiving the rights). Crucially, the original policy document must be available, as the assignment is endorsed directly on it. Form 3857 itself is the instrument of transfer, and it must be filled in neatly, without any overwriting or corrections. Using black or blue ink is mandatory. Next, the section requires the assignor to declare

In conclusion, filling out LIC Form 3857 is not an intimidating legal puzzle but a methodical data-entry task. By accurately stating the policy number, clearly defining the consideration, precisely naming the assignee, securing two independent witnesses, and submitting the original policy to LIC for endorsement, any policyholder can execute a valid assignment. Rushing or leaving blanks invites rejection; careful, legible completion ensures that the transfer of rights is recognized and enforceable, thereby protecting the interests of both the assignor and the assignee. This section must also specify whether the assignment