💰 LIC Surrender Value Calculator

Use our free online tool to calculate the surrender value of your LIC policy. Understand the process, benefits, and considerations before surrendering your life insurance policy.

Table of Contents

What is Surrender Value?

The surrender value is the amount paid to the policyholder if they decide to terminate their life insurance policy before its maturity. It is typically a percentage of the premiums paid, adjusted for bonuses (if applicable), and after deducting certain charges.

There are two types of surrender values:

How to Use the Calculator?

Using our LIC Surrender Value Calculator is simple. Follow these steps:

  1. Select the type of policy (e.g., Endowment, Money Back, Term Plan).
  2. Enter the total premiums paid so far.
  3. Input the number of years completed under the policy.
  4. Provide any accrued bonus or surrender charges (if applicable).
  5. Click "Calculate" to view the results.

Use the LIC Surrender Value Calculator

Results:

Guaranteed Surrender Value (GSV): ₹

Special Surrender Value (SSV): ₹

Final Amount Payable: ₹

Frequently Asked Questions (FAQ)

What is the difference between GSV and SSV?

Guaranteed Surrender Value (GSV) is a fixed percentage of the premiums paid, while Special Surrender Value (SSV) includes bonuses and other factors.

Can I surrender my policy anytime?

No, most policies require a minimum period (e.g., 3 years) to be eligible for surrender.

Are there any charges for surrendering a policy?

Yes, insurers deduct surrender charges, which vary based on the policy terms.

What documents are required for surrendering a policy?

You will need: