3855 Download Fixed Free - Lic Form

Whether you are assigning a policy for "Natural Love and Affection" or for "Valuable Consideration," this notice must be submitted to the Life Insurance Corporation of India (LIC) to legally register the change. Google Groups Understanding LIC Form 3855

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Managing life insurance policy ownership can sometimes be complicated, requiring specific documentation to ensure legality and clarity. For Life Insurance Corporation of India (LIC) policyholders looking to transfer ownership—often referred to as an "assignment"— is the mandatory legal document. Whether you are assigning a policy for "Natural

| Section | Field | Instruction | | :--- | :--- | :--- | | | Policy Number | Enter the exact number as shown on your bond. No spaces. | | B | Assignor Details | Your full name, address, and relationship to the life assured. | | C | Assignee Details | The new owner’s full name, address, and PAN (mandatory for loans). | | D | Consideration | If money exchanged, write “Valuable Consideration.” For gifts, write “Natural Love and Affection.” | | E | Witnesses | Requires two independent witnesses (not assignor or assignee). | Managing life insurance policy ownership can sometimes be

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Form 3855 represents more than just paperwork; it is the final seal on a transfer of financial security. Whether the policy is being assigned as a gift to a family member or as collateral for a bank loan, this form ensures the law of the contract is upheld, protecting the new owner's right to the "sum assured and all other moneys, benefits, and advantages" step-by-step checklist