: Submit the completed deed along with the original policy document to your LIC Servicing Branch .

: This is the process that reverses an assignment. It refers to the legal act of transferring the policy rights and benefits back from the assignee to the original assignor (or to another person). For example, after repaying a loan secured by your LIC policy, your bank (the assignee) will reassign the policy back to you. This is when Form 3857 is used.

The form acts as a legal endorsement. When filled, signed, and stamped by the authorized officer of the lending institution, it declares that the loan has been fully satisfied and that the bank is relinquishing all claims over the policy. Key Components of LIC Form 3857

Years ago, Arjun had assigned the policy to a local bank to secure a loan for Meera’s education. Now, with the loan paid off and his health beginning to fade like the evening sun, he needed to "reassign" that future back to its rightful owner.

The is the official document used to transfer the ownership of a Life Insurance Corporation of India (LIC) policy from an assignee (such as a bank or financial institution) back to the original policyholder. This typically occurs after a loan secured against the policy has been fully repaid, allowing the policyholder to regain all rights, benefits, and advantages of the insurance. Purpose of Form 3857

: If the policy was used as additional security for a home loan. Critical Checklist for Policyholders Lic Form No.3857 | PDF - Scribd

You assigned your LIC policy to a bank or financial institution as collateral for a home loan, personal loan, or education loan. Now that the loan is fully repaid, the bank must reassign the policy to you.

You must attach self-attested ID and address proofs for both the assignee and any witnesses involved. Authenticating Corrections:

To successfully register the assignment, you must submit Form 3857 along with several supporting documents:

| Aspect | Details | | :--- | :--- | | | LIC Reassignment Form No. 3857 | | Primary Use | Transfer of policy ownership from assignee back to assignor (reassignment) | | Assignor (Transferor) | The original policyholder who initially assigned the policy | | Assignee (Transferee) | The person or entity (often a bank) who is currently the policy's owner and is transferring it back | | Assignment Type | Used for reassignment (reverse of assignment) | | Where to Submit | The LIC branch that services the policy | | Current Fee Status | As per a Supreme Court ruling, LIC cannot levy a service charge or fee for endorsing assignment or transfer |

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.

A formal notification to the LIC Manager that the change has occurred.

The signature, name, and address of a witness who observes the signing of the form. Step-by-Step Process to Reassign Your LIC Policy