LIC Bond Surrender Value Calculator

FAQs

How is surrender value calculated in LIC? The surrender value in LIC policies is calculated based on various factors such as the type of policy, premium paid, policy term, and duration for which the policy has been in force. Generally, surrender value is a percentage of the total premiums paid, less any applicable charges.

How much money will I get if I surrender my LIC policy before maturity? The amount of money you will get upon surrendering your LIC policy before maturity depends on factors such as the type of policy, premium paid, and the duration for which the policy has been in force. Generally, the surrender value is less than the total premiums paid, especially in the initial years of the policy.

How can I check my LIC surrender value online? You can check your LIC surrender value online by logging into the LIC customer portal using your policy details. Alternatively, you can contact your LIC agent or visit the nearest LIC branch office for assistance.

What is the surrender value after 5 years? The surrender value after 5 years depends on the specific policy terms and conditions. Generally, the surrender value after 5 years is higher compared to surrendering the policy earlier, but it may still be less than the total premiums paid.

What is surrender value after 10 years? The surrender value after 10 years varies depending on the policy terms and conditions. Typically, the surrender value after 10 years is higher compared to earlier years, but it may still be less than the total premiums paid.

What is the surrender value of LIC after 3 years? The surrender value of LIC after 3 years depends on the specific policy terms and conditions. Generally, the surrender value after 3 years is lower compared to surrendering the policy after a longer duration.

Will I get full amount if I surrender my LIC policy? No, you will not get the full amount if you surrender your LIC policy. The surrender value is typically less than the total premiums paid, especially in the early years of the policy.

Is it advisable to surrender LIC policy? Surrendering an LIC policy should be considered carefully as it may result in financial losses, especially in the early years of the policy. It is advisable to review the surrender value and potential consequences before making a decision.

What are the disadvantages of surrendering LIC policy? Disadvantages of surrendering an LIC policy include receiving a lower amount than the total premiums paid, losing out on potential bonuses or returns, and the policyholder may have to pay surrender charges or fees.

How do I claim surrender value? You can claim the surrender value of your LIC policy by submitting a surrender request to the LIC branch office along with the necessary documents such as the original policy document, identity proof, and surrender form.

What happens if I stop paying LIC premium after 2 years? If you stop paying LIC premium after 2 years, the policy may lapse, and you may lose the insurance coverage. However, you may still be eligible for surrender value or a paid-up policy, depending on the terms and conditions of the policy.

Where should I surrender my LIC policy? You can surrender your LIC policy by submitting a surrender request at the nearest LIC branch office or through your LIC agent. Ensure to fill out the surrender form and provide all necessary documents.

What is the surrender payout? The surrender payout refers to the amount paid to the policyholder upon surrendering an insurance policy. It is typically the surrender value of the policy, which may be less than the total premiums paid.

What is the average surrender fee? The surrender fee or charges vary depending on the specific policy terms and conditions. It is advisable to check the policy document or contact LIC for information on surrender charges applicable to your policy.

What is the total surrender value? The total surrender value is the amount payable to the policyholder upon surrendering the LIC policy. It is calculated based on factors such as the total premiums paid, policy duration, and surrender charges deducted.

What is the surrender value of LIC Table 14? The surrender value of LIC Table 14 policies depends on the specific terms and conditions of the policy. It is advisable to refer to the policy document or contact LIC for information on surrender value for Table 14 policies.

Who pays surrender value? The surrender value is paid by the insurance company (LIC) to the policyholder upon surrendering the insurance policy.

What is the surrender value of LIC Table 165? The surrender value of LIC Table 165 policies depends on the specific terms and conditions of the policy. It is advisable to refer to the policy document or contact LIC for information on surrender value for Table 165 policies.

What is the surrender value of Jeevan Anand? The surrender value of LIC Jeevan Anand policy depends on factors such as the total premiums paid, policy duration, and any applicable surrender charges. It is advisable to refer to the policy document or contact LIC for specific surrender value details.

What is plan 75 in LIC? Plan 75 in LIC refers to specific insurance plans offered by the Life Insurance Corporation of India (LIC). Each plan has its terms, conditions, and features designed to meet the needs of policyholders.

Can I close my LIC and get money back? Yes, you can surrender your LIC policy and receive the surrender value, which is typically less than the total premiums paid. However, surrendering the policy may result in financial losses.

What is the surrender value of LIC policy after 7 years? The surrender value of an LIC policy after 7 years depends on factors such as the type of policy, total premiums paid, and policy terms and conditions. It is advisable to refer to the policy document or contact LIC for specific surrender value details.

Can I surrender LIC policy after 5 years? Yes, you can surrender an LIC policy after 5 years. However, the surrender value may be less than the total premiums paid, especially in the early years of the policy.

What is the difference between surrender value and paid-up value? Surrender value is the amount payable to the policyholder upon surrendering the insurance policy, while the paid-up value is the reduced sum assured available if the policy is converted to a paid-up policy after premium payment discontinuance.

Why is surrender value less than premium? The surrender value is typically less than the total premiums paid because it factors in expenses, charges, and deductions associated with the policy, such as mortality charges, administration charges, and surrender fees.