Life Insurance Corporation of India (LIC) policies are not just savings or investment tools; they are assets . Like any other asset (such as property or shares), the ownership rights of an LIC policy can be transferred from one person to another. This process is officially known as Assignment (and later, Reassignment ).
Disclaimer: Insurance policies are subject to terms and conditions. This article is for informational purposes only. Please consult your LIC branch or a legal advisor for the latest forms and procedures, as they may change over time. reassignment form of lic
I/We, [Name of Assignee], do hereby reassign and transfer back to [Name of Original Policyholder] all rights, title, and interest in the above-mentioned policy, which was originally assigned to me/us on [Date of Original Assignment]. Life Insurance Corporation of India (LIC) policies are