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LIC assignment form 3848 PDF You read the free 3 preview pages not shown in this preview. The process of transferring ownership, as well as interest on assets or property from one person to another
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How to fill out lic assignment form 3848
How to fill out lic assignment form 3848
01
To fill out LIC Assignment Form 3848, follow these steps:
02
Begin by downloading the form from the official LIC website or obtain a physical copy from a LIC branch office.
03
Read the instructions and guidelines provided on the form carefully.
04
Start by entering the policyholder's name, policy number, and other relevant details as requested.
05
Specify the assignment details, including the name and address of the assignee, their relationship to the policyholder, and the percentage of assignment.
06
If there is more than one assignee, enter their details separately in the appropriate sections.
07
Next, provide your bank details for any future payments related to the assigned policy. This includes the account holder's name, bank account number, and IFSC code.
08
Ensure that all the information provided is accurate and complete.
09
Sign the form in the designated area, along with the necessary witnesses, if required.
10
Review the completed form once again to ensure there are no errors or omissions.
11
Submit the filled-out form to the LIC branch office or follow the specific instructions mentioned on the form for submission.
12
Keep a copy of the filled-out form for your records.
Who needs lic assignment form 3848?
01
Anyone who wishes to assign their LIC policy to someone else can use LIC Assignment Form 3848.
02
This form is required when the policyholder wants to transfer the rights, benefits, or interests of their LIC policy to another individual or entity.
03
The assignee can be a family member, spouse, friend, or any other person/entity as per the policyholder's choice.
04
It is advisable to consult with LIC or a financial advisor to understand the implications and benefits of assigning a policy before filling out this form.
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What is lic assignment form 3848?
LIC Assignment Form 3848 is a document used to assign the benefits of a Life Insurance Corporation (LIC) policy to another party.
Who is required to file lic assignment form 3848?
The policyholder who wishes to assign their LIC policy benefits to another individual or entity is required to file LIC Assignment Form 3848.
How to fill out lic assignment form 3848?
To fill out LIC Assignment Form 3848, provide the policy details, assignor's information, assignee's information, and signature of the assignor, along with any required witnesses.
What is the purpose of lic assignment form 3848?
The purpose of LIC Assignment Form 3848 is to legally transfer the rights and benefits of an LIC policy from the policyholder to another party.
What information must be reported on lic assignment form 3848?
The form must report the policy number, name and address of the assignor and assignee, the relationship between them, and relevant signatures.
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