Assignment Form For Lic Policy
Description
How to fill out Promissory Note Assignment And Notice Of Assignment?
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FAQ
(2) The full name, and age, of the Assignee must be stated. (3) The actual consideration for the assignment received from the assignee should be written in words, not in figures. (4) The Assignor must affix his signature to the Assignment in the presence of a witness other than the Assignee.
Visit the nearest LIC branch and avail a surrender discharge voucher. Form 5074 is the surrender discharge voucher. Fill the form 5074 and submit it with the relevant documents. Or else, courier the filled form along with relevant documents to the LIC's head office.
Assignment of a life insurance policy may be made by making an endorsement to that effect in the policy document (or) by executing a separate 'Assignment Deed'. In case of assignment deed, stamp duty has to be paid. An Assignment should be signed by the assignor and attested by at least one witness.
