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This form is used to assign a life insurance policy to another party under Section 38 of the Insurance Act, 1938, facilitating the process for bank loans and ensuring legal compliance with electronic
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How to fill out lic assignment form no

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How to fill out lic assignment form no

01
Obtain the LIC assignment form from your LIC branch or download it from the official LIC website.
02
Fill in your personal details, including your name, policy number, and address.
03
Provide the details of the assignee, including their name and relationship to you.
04
Specify the type of assignment you wish to make (absolute or conditional).
05
Sign and date the form.
06
Submit the completed form to your LIC branch along with any required documents.

Who needs lic assignment form no?

01
Individuals who wish to transfer the rights or benefits of their LIC policy to another person.
02
Policyholders who want to secure a loan against their policy.
03
Persons looking to name beneficiaries in case of death or other contingencies.
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LIC Assignment Form No. is a specific form used by the Life Insurance Corporation of India to assign the rights of the policyholder to another individual or entity.
The policyholder who wishes to assign their insurance policy to another person or organization is required to file the LIC Assignment Form No.
To fill out the LIC Assignment Form No., the policyholder should provide personal details, policy information, the name of the assignee, and any specific terms related to the assignment.
The purpose of the LIC Assignment Form No. is to legally transfer the ownership rights of an insurance policy from the policyholder to the assignee.
The information that must be reported includes the policy number, name of the policyholder, name and address of the assignee, details of the assignment, and any relevant signatures.
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