When filling out the form, it's easy to make mistakes. Here are the most common pitfalls to watch out for.
The bank usually takes 7 to 15 working days to return the original policy bond and Form 3857 after loan closure. LIC takes an additional 3 to 7 working days to register the reassignment in their systems.
: Attach self-attested ID and address proofs for the assignee and the witness. Stamp Paper
Once the form is filled out and the required documents are gathered, policyholders can submit the LIC of India Reassignment Form 3857 to the LIC office. Here are the steps to follow:
Filling out the LIC of India Reassignment Form 3857 is a straightforward process. Here are the steps to follow: