Lic Of India Reassignment Form 3857 [verified] May 2026

The oak desk in Arjun’s study was cluttered with the remnants of a life well-lived, but his eyes were fixed on a single, crisp document: LIC Form No. 3857

. To the uninitiated, it was a "Form of Reassignment," a bureaucratic necessity. To Arjun, it was the final bridge he needed to build for his daughter, Meera.

Arjun had purchased the endowment policy thirty years ago, shortly after Meera was born. At the time, he was a junior clerk, and the premiums felt like a heavy weight. But as he watched her grow—from a toddler chasing butterflies to a brilliant architect designing skylines—the policy became a silent guardian of her future.

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.

He picked up his fountain pen, the ink flowing as smoothly as the memories. Section 1: The Absolute Reassignment.

He filled in the details of the policy—the number he knew by heart, the sum assured that once seemed like a fortune. By signing this form, he wasn’t just moving a financial asset; he was handing over a promise. He was ensuring that if he weren't there to see her next milestone, the fruits of his three decades of labor would go directly to her, unencumbered and absolute. The Witness.

Arjun called his old friend, Mr. Khanna, who lived next door. "Khanna, I need a witness for Form 3857," he said, his voice steady.

Khanna arrived, spectacles perched on his nose. He watched Arjun sign with a flourish. "You’re doing a good thing, Arjun. Most people forget the paperwork until it’s too late. This keeps it clean—no legal tangles, no probate, just a direct gift of love." The Submission.

The next morning, Arjun walked into the bustling LIC branch office. The smell of old paper and tea was familiar. He handed the completed Form 3857, the original policy bond, and the notice of assignment to the officer behind the counter.

"Everything is in order, sir," the officer said, noting the 'Absolute Assignment' box was checked. "We will register the reassignment in our records. Your daughter will be the sole owner of the policy benefits now."

As Arjun walked out into the bright afternoon air, he felt a profound lightness. The legal "consideration" mentioned on the form was "Natural Love and Affection"—words that usually felt out of place in a contract, but here, they were the only words that mattered.

That evening, he handed the acknowledgment slip to Meera over dinner. "What’s this, Papa?" she asked.

"It’s your safety net, Meera," he smiled. "I’ve signed it over. It’s officially yours now."

The form was just paper, and the ink was just pigment, but the peace of mind it bought was priceless. Arjun knew that while he couldn't control the winds of fate, he had finally finished building the sails for his daughter's ship. Important Note: In real-life LIC procedures, is specifically used for the Absolute Assignment Reassignment

of a policy. It is crucial that the form is signed by the assignor (the person giving the policy), witnessed by someone of standing, and promptly sent to the LIC branch office to be registered in their "Register of Assignments." step-by-step checklist lic of india reassignment form 3857

for correctly filling out this specific form to ensure it isn't rejected?

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Here is the standard draft text for the LIC of India Reassignment Form (Form No. 3857).

This form is used for an Absolute Reassignment when the policy is transferred back to the original policyholder after a loan has been repaid. 📝 Part 1: Form of Reassignment

(This wording must be copied out either on the back of the original policy bond itself or on a separate stamp paper of the requisite value.) FORM OF REASSIGNMENT FOR VALUABLE CONSIDERATION

I/We, [Assignee Name], in consideration of the repayment of the loan, do hereby reassign to [Policyholder Name] (the Assignee) the Policy Number [Policy Number] dated [Date] for a Sum Assured of ₹ [Amount], issued by the Life Insurance Corporation of India. Date: [Date] | Place: [Location] Signature of Assignee: _____________________ Signature of Witness: ______________________ Absolute Reassignment - Lic New Delhi

The LIC Form 3857 is the official "Re-Assignment Form" used by the Life Insurance Corporation of India (LIC) to legally transfer the ownership of a life insurance policy from one party (the Assignee) back to the original policyholder (the Assignor) or to another individual. Purpose of Form 3857

This form is essential for managing the rights and benefits of an insurance policy in specific scenarios:

Loan Clearance: When a policy was previously assigned to a bank or financial institution as security for a loan, Form 3857 is used to re-assign it back to the original policyholder once the loan is repaid.

Legal Ownership Transfer: It serves as a formal record that legally transfers all associated rights, protecting the interests of both parties.

Estate Planning: It can be used for transferring policies within family members as part of inheritance or succession planning. Key Components of the Form

To ensure the reassignment is legally binding, the following details must be accurately provided:

Policy Details: Correct policy number and date of commencement.

Assignor & Assignee Information: Full names and addresses of the original owner and the new owner. The oak desk in Arjun’s study was cluttered

Statement of Consideration: If the reassignment is for a specific sum (e.g., a repaid loan), that amount must be clearly mentioned.

Signatures & Witnessing: The form requires signatures from both the assignor and assignee. These must be witnessed by a third party to validate the transfer. Filing and Submission Process

Obtain the Form: Download the Form 3857 PDF or visit an LIC Branch Office to get a physical copy.

Fill Accurate Details: Ensure signatures match those already on record with LIC to avoid rejection.

Attach Policy Document: The original policy document must be submitted along with the completed Form 3857 for the registration of the reassignment.

Register with LIC: Deliver the documents to the relevant LIC servicing branch. The assignment is not legally recognized until it is registered in LIC's books. Common Pitfalls to Avoid

Missing Signatures: Every required signature, including the witness, must be present.

Incomplete Information: Leaving blank fields like the policy number or the date of assignment can lead to delays.

Lack of Stamp Duty: Ensure any necessary stamp duty has been paid if required for the specific type of assignment. Lic form 3857: Fill out & sign online - DocHub

Steps for Filling the Form * Personal Information: Include details of the original policyholder (assignor), such as name, address, Lic form 3857: Fill out & sign online - DocHub

The LIC of India Reassignment Form 3857 is a critical legal document used to restore ownership of a life insurance policy to the original policyholder. Typically, this occurs after a policy was "assigned" as collateral for a loan; once the debt is repaid, Form 3857 is used to "reassign" those rights back to the assured. Understanding Form 3857: Purpose & Scope

When you take a loan from a bank or LIC itself, your policy document is often assigned to the lender. This means the lender becomes the "Assignee" and holds the rights to the policy benefits until the loan is cleared.

Restoration of Rights: Form 3857 legally transfers the "title, interest, and benefit" of the policy back from the lender (Assignee) to the policyholder (Assignor).

Valuable Consideration: This specific form is often titled "Form of Reassignment for Valuable Consideration," acknowledging that the reassignment is happening because a sum (the loan repayment) has been satisfied. Key Components of the Form Description Assignee Details Step 3: Obtain Signatures and Witnesses

The name and address of the institution or individual currently holding the policy rights. Consideration Amount The specific sum of money (Rupees) repaid to the assignee. Policy Details

Includes the Policy Number, sum assured, and the date the policy was granted. Signatures

Must be signed by the Assignee (lender) in the presence of witnesses. Notice of Reassignment

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

Drafting: LIC guidelines strictly state that the wording of Form 3857 should not just be filled into a blank template but copied onto the back of the original policy bond or onto a stamp paper of requisite value.

Witnessing: The signatures of the assignor and assignee must be witnessed by a person competent to contract (who is not a party to the assignment).

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

Fresh Nomination: Crucially, any previous nomination is cancelled upon assignment. After reassignment is registered, you must file a fresh nomination to ensure your beneficiaries are protected. Common Use Cases

Bank Loan Closure: Once you receive a "No Dues Certificate" from a bank, they will use Form 3857 to return the policy title to you.

Estate Planning: Reassigning a policy that was previously gifted or transferred within a family.

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

Step 3: Obtain Signatures and Witnesses

Signature of Assignee: Mandatory. If the assignee is a bank, the authorized signatory (Manager/Agent) must sign with the bank’s stamp.
Signature of Assignor: Accepts the reassignment.
Witnesses: Two independent witnesses must sign with their names and addresses. They cannot be beneficiaries under the policy.

When Do You Need LIC Form 3857?

You will need to fill out and submit Form 3857 in the following scenarios:

What to Do

Check the exact wording on your document — does it say “Reassignment of Policy” or “Revocation of Assignment”?
Contact your LIC branch and ask: “What is the correct form number for reassigning a policy back to the original policyholder?” They will confirm if 3857 is valid in their system.
Download standard forms from the official LIC website: licindia.in → Customer Services → Download Forms → Assignment / Reassignment.

If you can share the exact sentence or heading from the document where you saw “3857,” I can help identify it more precisely.

Q5: Who pays stamp duty for reassignment?

In most states, reassignment for loan repayment is exempt from stamp duty. For other cases, nominal stamp duty of ₹10-₹100 may apply. Check your state’s Stamp Act.

Why Should You Care? The Strategic Angle

Most policyholders ignore Form 3857 because they don't plan to give their policy away. But understanding this form opens up three powerful opportunities:

Better Loan Terms: Lenders love collateral. By officially assigning your LIC policy via Form 3857, you can often get lower interest rates on a loan than an unsecured personal loan.
Corporate Keyman Insurance: If you are a business owner and the company holds a "Keyman Insurance Policy" on you, Form 3857 is used to reassign the policy to you personally after you leave the company or retire.
Resolving Family Disputes: In a legal separation or divorce settlement, Form 3857 can be used to transfer a policy’s ownership to a spouse or child cleanly, without canceling the plan.

4. Witness Attestation

The signatures of the bank official usually require attestation by witnesses. This ensures the validity of the document.