Reassignment by endorsement on the policy bond itself generally does not attract heavy stamp duty, but local state laws and nominal LIC administrative charges may apply.
The Branch Manager, LIC of India, [Branch Code/Address]
Provide these details so I can guide you on the exact next steps for your specific situation. lic of india reassignment form 3857
: Once a policy is reassigned to you, your previous nominations are often cancelled. You should file a fresh nomination immediately.
Submit the duly filled and signed Form 3857 along with the and any other required documents to the LIC branch that services your policy. LIC will then verify the documents, record the reassignment in its registers, and paste an endorsement on the original policy document indicating the reassignment of ownership. Reassignment by endorsement on the policy bond itself
An assignment automatically cancels any previous nominees you added to the policy. Reassignment does not automatically restore your old nominees. When submitting Form 3857, ensure you also submit Form 3750 to register a fresh nomination.
This is a critical step. The assignor and assignee must both sign the form. Additionally, the signature of at least is required, who must be a person other than the assignor and assignee. You should file a fresh nomination immediately
: In many cases, LIC allows the reassignment wording to be written or stamped directly on the back of the original policy bond instead of a separate paper.
No. Form 3857 transfers all rights, title, and interest. There is no concept of partial reassignment in LIC policies.