After you assign a life insurance policy to someone (like a bank for a loan), you later use a to transfer the rights back to yourself (the original policyholder) once the loan/debt is repaid.
Based on the search term , the most relevant and common interpretation refers to a LIC (Life Insurance Corporation of India) Policy Reassignment Form . reassignment form lic
If you assigned your policy to a bank or LIC to secure a loan, you must use this form once the debt is cleared to reclaim ownership. After you assign a life insurance policy to
In cases of conditional assignment (e.g., to a spouse), if the specific conditions for reversion are met, this form formalizes the transfer. to a spouse)