In this article I will be writing about the surrender value of LIC policy. Basically the surrender value is the case value of your policy which can be paid if you are planning to discontinue the policy before its completion. It has few calculations and restriction to apply for the surrender value. This article explains that in more details. If you have any doubts on the LIC surrender value please post it in the comments section. Please subscribe to our future articles here.
What is Surrender Value of LIC policy?
Surrender value is payable only after three full years premiums are paid to LIC. More over if it is a participating policy the Bonus get attached to it as per prevalent rules. Surrender of policy is not recommended since the surrender value would always be proportionately low.
If due to any reason when you wish to terminate your contract of insurance with L.I.C., you can surrender your policy to them and get its cash value known as Surrender Value.
How to know Surrender Value?
The best idea would be to visit the nearest branch in your location or contatc your LIC agent to know about the surrender value of the policy if you give the details about your policy.
Summary
Thank you for reading this article. I hope now you got some idea on what is surrender value for your policy. It will be helpful if you can know the surrender value of your policy. Please post your feedback in the comments section.
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March 1, 2012 at 5:09 am
I am N K Agarwal my policy no. is 691537263 i paid 11 year total amount 2,50,000/- i ask to surrender value of this policy LIC is giving only 2,27,070/ if customer is lossing money after 11 years investment, No body will trust on LIC agent.
July 31, 2012 at 5:27 pm
Is LIC a shit
August 31, 2012 at 11:34 pm
Yes it is Don’t do it
August 29, 2012 at 4:58 pm
I am also a BIG hater of LIC. They are just crap.
Yes you wont get the amount that u have invested on Surrendering, because LIC calculates the Insurance part also (Insurance premium for 11 yrs as in ur case).
Hope its clear to you now. Even making Paid-UP add few penny to your current amount u have already invested.
LIC sucks.
March 1, 2012 at 5:25 am
Dir,
All LIC policy holder
Please get details with LIC agent before getting LIC policy beetwin the term period if they will surrender the policy, policy holder is not getting own amount after paying 11 years. Is it LIC?
March 2, 2012 at 9:53 pm
I want to know the surrenter value of my policy the policy no is 755764437
755764438
March 3, 2012 at 1:38 am
Dear Sir/Madam.
I want to surrender my policy named as jeevan anand ,only one preimum is paid from my side , amount of premium is 29000/- can surrender my policy and what amount will be given to me after the same surrender to LIC.
July 5, 2012 at 4:06 am
Dear Rajesh Kumar, There is minimum condition for surrender your policy is that your policy must be run for the minimum three years.
otherwise you cannot get any surrender value for your policy.
+91-9463680048
March 5, 2012 at 3:55 am
Pls open the web side and open http://www.licindia.in/phone_helpline.htm
you will find area branch office clike there you will get phone numbre.
Call and say policy no. …..ask surrender value or you can take detail from nearest LIC office.
March 8, 2012 at 10:21 pm
I want to know the surrender value of my father’s market plus policy .please send the detail to my E-mail id.
POLICY NO.:- 813374017
October 1, 2012 at 5:12 pm
Plz give me surrender value for the below mentioned lic’s upto 6/8/’12.
1.715907940&843040053
March 9, 2012 at 9:36 am
813517165 pls give me surrender value of above policy no plan is money plus
I have paid three premiums
March 9, 2012 at 10:51 pm
I want to know the surrender value of my Policy number 543754366. Plz send the details to my E-mail ID.
March 9, 2012 at 11:39 pm
Dear sir/Madam
I am having two nos of policies one is market plus and another one is market plus 1 and the policy nos are 363974918 dated 31/03/2008 market plus and another one is 364395907 dated 23/07/2008 market plus 1
both are single payment i e Rs 10,000.00 each please tell me the if i surrender these policies how much money i get return please
March 12, 2012 at 12:52 am
930892076, 930892065, 930892067, 931057980 pls give me daily surrender value of above policy no plan is market plus
March 14, 2012 at 1:21 am
Plz give me surrender valu of Policy No-860317818 & 860317819
So urgent .PLz Plz
March 14, 2012 at 1:23 am
Plz give me surrender value of Policy No-860317818 & 860317819
So urgent .PLz Plz
March 15, 2012 at 9:20 am
Plz send me my surrender value of my l.i.c. No. 236160981 at my email id
March 19, 2012 at 9:37 pm
Plz send me my lic policy surrender value in today date ,my policy number 766285194.16 yrs 179table.only 3 yrs premium in (7623+7623).
March 19, 2012 at 9:39 pm
Plz send me my lic policy surrender value in today date ,my policy number 766285194.16 yrs 179table.only 3 yrs premium in hly 7623/-(7623+7623).
March 29, 2012 at 3:30 am
Plz send me my lic policy surrender value in today date, my policy no. 834732668 & 834732667 table & term 174 20. qty.premium – 957.00
March 29, 2012 at 3:30 am
Plz send me my lic policy surrender value in today date, my policy no. 834732668 table & term 174 20. qty.premium – 957.00 &
April 1, 2012 at 6:22 am
LIC is the biggest robbery of INdia.
July 5, 2012 at 4:09 am
Mr. Governor,
could you help me out that how LIC is the robbery.?
April 1, 2012 at 6:25 am
ya it is true.
April 12, 2012 at 9:18 am
hi my self anup rawat i want to sarender my policy so how can i do it pleas tell me
April 15, 2012 at 7:56 am
hi ,send me my lic policy surrender value —- policy no-906151595
email me– plz—–
April 15, 2012 at 8:03 am
hi,its possible for lic loan this jeevan saral policy.i started 2 feb 2008. so advice me.
July 5, 2012 at 4:12 am
Mr. Lavesh
yes you can get loan about your Paid Up Value of Policy.
Contact your Branch for the same.
April 18, 2012 at 7:59 pm
hi ,send me my lic policy surrender value- 115136285
email me plzzzzzzzzz
April 18, 2012 at 8:00 pm
hi ,send me my lic policy surrender value–115155761
email me plz
May 15, 2012 at 3:12 am
Send me surrender values of the following policy nums
1.723306446
2.723306287
3.614941730
4.724397777
5.360872767
May 21, 2012 at 9:10 am
hey guys whats da fuss .when u make an insurance policy then u make it for life and u pay part of the money for insurance consider u die within one premium payment u get full sum assured
July 5, 2012 at 4:15 am
Mr Bertrand.
can you clear your question., i didn’t get what you want to ask..?
May 24, 2012 at 12:59 am
I would like to know how much loan one can avail agaist his policies and the rate of interest of the same.
May 29, 2012 at 4:54 am
What is the surrender value of this policy no(175309642 dated 30.03.2007)please replay.
Thanks & Regards
Satya Prakash Chauhan
May 30, 2012 at 10:58 pm
pls send me my policy surrender value policy no360665683
June 10, 2012 at 10:38 pm
dear sir, please let me know surrender value of my LIC policies nos. 775583073 & 775426427.
June 16, 2012 at 7:39 am
please send me surrender value of policy no.254992983
June 16, 2012 at 9:42 am
is there any tool for calculating the surrender value of a policy..?
June 16, 2012 at 6:30 pm
Hello Raj,
It is good idea to contact your agent for knowing the surrender value of your policy. I found this link for calculating the surrender value:
http://arthaplanner.com/personal-finance/calculate-lic-policy-surrender-value/
Thanks,
Krishna
June 20, 2012 at 1:24 am
rajesh singh s/0 shri dharm singh
dob-30/04/1978
my mani plus polices no detais
send my mail and mob no. 09828814320 and serender value.
June 20, 2012 at 1:39 am
Hello Rajesh,
Please find out your policy details here:
http://www.licindia.in/money_plus1_features.htm
Check if the current fund value is good, before surrender that.
Thanks,
Krishna
July 25, 2012 at 10:41 am
i want to know my policy surrender value this time,as policy no. 544360892
July 26, 2012 at 8:50 am
please send me surrender value of LIC.policy No.585990495,885102208,586427163,584312770 .
August 2, 2012 at 1:03 pm
plezzzz tell me surrender value of policy no 615651352
August 31, 2012 at 11:40 pm
Never open a LICI Policy.
within 3 year you will not able to withdraw the fund if you need it
and after 3 year if you want it then you will not get the full value of that policy.
So my advice is never go with LICI. The all agents and LICI itself are cheater.
September 1, 2012 at 10:24 pm
Plz send me my lic policy surrender value in today date, my policy no. 321384532 & 321589494 & 902645432. Thanks
September 6, 2012 at 1:04 am
Hi,
My Name is mohd ismail,
I take one Lic before 15 years ago that time adviser told me i will received 4th time return 15000 & 15000 & 20000 & 75000
my total priemuem is 72000 and my last return only 32000
43000 is less then commitment.
ab me kiya karo mere saath bhout bada dhoka hwa hai
September 11, 2012 at 9:56 pm
hi am paid only 1 total priemuem i yers paid but last 2 Years amount not paid ab muje policiy nikale ke 4 saal ho gaye ab me kaiy karu please suggest my policy number -964178898
September 22, 2012 at 7:52 pm
I want to know my market plus LIC policy surrender value I have payed for 6 years. I did not took the risk option. Policy no 684828264 and plz tell me the procidure to withdraw it . Please send the surender value reply to my Email address gjacobgeorge@rediffmail.com
October 1, 2012 at 5:13 pm
Dear Team,
I want to surrender below mentioned Policies, please let me know the surrender value for the same..
822551859
822551672
thanks..
October 17, 2012 at 8:31 pm
There is a simple way to calculate your surrender value.
Suppose:
You took a xyz policy in the year 2008, Jan
Premium of xyz policy 2108/- (Policy tenure 25 years & Quarterly basis)
=========
YEAR 2008
=========
Jan 2008 – 2108
April 2008 – 2108
July 2008 – 2108
Oct 2008 – 2108
=========
YEAR 2009
=========
Jan 2009 – 2108
April 2009 – 2108
July 2009 – 2108
Oct 2009 – 2108
=========
YEAR 2010
=========
Jan 2010 – 2108
April 2010 – 2108
July 2010 – 2108
Oct 2010 – 2108
=========
YEAR 2011
=========
Jan 2011 – 2108
April 2011 – 2108
July 2011 – 2108
Oct 2011 – 2108
==========
YEAR 2012
==========
Jan 2012 – 2108
April 2012 – 2108
July 2012 – 2108
Oct 2012 – 2108
Now, You have paid 20 premiums.
Total amount of 20 premiums: 20*2108=42160
But according to policy company you paid only 16 months premium. (First year Premium is not counted, Which is 8432/-)
Total amount of 16 premiums: 16*2108=33728
33728 is only your paid up amount.
Now, surrender value is only calculated in this amount.
30%, 40%, 50%, 60% ….but not more than 90%. Percentage only depends on
terms and conditions, risk cover, and so on.
If policy covers maximum risks then you’ll get minimum percentage.
paid amount: (20*2108)-(4*2108)=33728
surrender value: 30%
33728*30/100=10118.4
surrender value of xyz policy is 10118.4
November 4, 2012 at 5:31 pm
LIC is a shit never go for it
November 7, 2012 at 7:42 pm
pls send me my lic money back policy surrender amount my policy no-902713872 at present date
November 10, 2012 at 6:43 pm
plz send me my lic policy surrender value in today date, my policy no. 255618202.
November 10, 2012 at 8:13 pm
Please check with your agent
December 8, 2012 at 4:03 pm
neelam devi policy no. 54509/565 plz send me current surrender value
December 9, 2012 at 9:54 pm
i have lost my lic policy, I have no recod of policy How can I search the policy
December 13, 2012 at 11:22 pm
send me surrender values polecy no is 557550054
December 25, 2012 at 6:37 pm
Please send me surrender value of mu following policies 1.438066853 2.438066854 3.438066855 4.435676280 .