Reassignment Form Of Lic New! (VALIDATED)

The consideration/debt for which the policy was assigned has been fully discharged. I/We request you to register this reassignment in your books and return the policy document with the necessary endorsement.

Subject: Reassignment of LIC Policy No. [XXXXXXXX] reassignment form of lic

I/We, [Name of Assignee], do hereby reassign and transfer back to [Name of Original Policyholder] all rights, title, and interest in the above-mentioned policy, which was originally assigned to me/us on [Date of Original Assignment]. The consideration/debt for which the policy was assigned

Sincerely, [Signature of Assignee] [Signature of Original Policyholder] The LIC reassignment form (Form 317) is a critical document for restoring your full ownership rights over a life insurance policy. Whether you have just paid off a loan or resolved a financial obligation, do not forget to complete this legal formality. A policy that remains assigned to a third party (like an old lender) is not under your control—so always ensure reassignment is done promptly and registered with LIC. [XXXXXXXX] I/We, [Name of Assignee], do hereby reassign

Life Insurance Corporation of India (LIC) policies are not just savings or investment tools; they are assets . Like any other asset (such as property or shares), the ownership rights of an LIC policy can be transferred from one person to another. This process is officially known as Assignment (and later, Reassignment ).

Disclaimer: Insurance policies are subject to terms and conditions. This article is for informational purposes only. Please consult your LIC branch or a legal advisor for the latest forms and procedures, as they may change over time.