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LIC policy assignment form download CLICK TO DOWNLOAD/01/24 Download LIC form for Reassignment for Valuable ConsiderationFillable PDF by Kavita which you can fill before print on your PC / Laptop.

How to fill out lic policy assignment form

How to fill out lic policy assignment form

1. To fill out the LIC policy assignment form, follow these steps:
2. Start by downloading the LIC policy assignment form from the official LIC website or visit the nearest LIC branch to obtain a physical copy.
3. Fill in the insured person's name, policy number, and other personal details as required.
4. Specify the details of the assignee, including their name, address, and relationship to the policyholder.
5. Indicate the assignment type, whether it is absolute or conditional.
6. Provide relevant policy details, such as the premium payment frequency and policy commencement date.
7. Clearly state the assignment conditions, if any, and include any necessary supporting documents.
8. Sign and date the form, ensuring both the policyholder and assignee sign where required.
9. Check for any additional documents or endorsements that may be necessary based on the specific assignment type.
10. Review the completed form for accuracy and completeness before submitting it to the LIC office or branch.
11. Keep a copy of the filled-out form and any supporting documents for your records.

Who needs lic policy assignment form?

1. Anyone who wishes to transfer the ownership rights and benefits of their LIC policy to another individual or entity needs to fill out the LIC policy assignment form.
2. This is applicable to LIC policyholders who want to assign their policy to a family member, spouse, trust, or any other assignee.
3. It may also be required in the case of loan policies where the LIC policy is being assigned as collateral for a loan.
4. The LIC policy assignment form is necessary to legally document and process the transfer of policy rights and benefits.

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What is lic policy assignment form?

The LIC policy assignment form is a legal document used to transfer the ownership rights of a Life Insurance Corporation policy from one individual to another.

Who is required to file lic policy assignment form?

The policyholder who wishes to assign their policy to another individual or entity is required to file the LIC policy assignment form.

How to fill out lic policy assignment form?

To fill out the LIC policy assignment form, the policyholder must provide details such as the policy number, the name of the assignee, the relationship to the assignee, and other required identification information.

What is the purpose of lic policy assignment form?

The purpose of the LIC policy assignment form is to facilitate the legal transfer of policy ownership, allowing the assignee to receive benefits from the policy.

What information must be reported on lic policy assignment form?

The information that must be reported on the LIC policy assignment form includes the policyholder's details, policy number, assignee's details, and any other information as required by LIC.