Lic Of India Reassignment Form 3857 -

Under Section 38 of the Insurance Act, 1938, a policyholder (the Assignor) can transfer the rights, title, and interest of their insurance policy to another entity or person (the Assignee). This is usually done for two reasons:

The person or institution currently holding the policy rights (the lender/bank). lic of india reassignment form 3857

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. Under Section 38 of the Insurance Act, 1938,

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. For other cases, nominal stamp duty of ₹10-₹100

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