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To calculate your insurance policy's surrender value, typically LIC policy surrender value, we have designed the calculator below. We are here to provide you with a unique LIC surrender value calculator online.
Apr 15, 2023 · LIC Policy Surrender Value calculator online. The surrender value of a life insurance policy is the amount of money that the policyholder is entitled to receive if they decide to cancel or surrender their policy before it matures.
Do you want to find the Surrender value of your LIC Policy? Use our LIC Policy Surrender Value Calculator which is as per 2024 IRDAI guidelines.
Step 1: Policyholders must visit the nearest LIC branch or log in to LIC’s official webpage. Step 2: Download the “Surrender Discharge Voucher” (LIC Form No. 5074) online or from an LIC office. Step 3: Fill out the form to discontinue the LIC policy and withdraw the surrender value from the bank.
The LIC Surrender Value Calculator is an invaluable tool for anyone considering surrendering their LIC policy. It simplifies the complex process of calculating the surrender value, providing policyholders with a clear picture of their potential refund.
May 21, 2024 · You can calculate the surrender value of your LIC policy by using the formula given below: {Basic sum assured + (number of premiums paid/total number of premiums payable) + total bonus received} * X. Please note that X is the factor of surrender value. How to Check LIC Policy Surrender Status Online? Wondering how to check the surrender value ...
Apr 15, 2023 · The surrender value is the amount of money that the policyholder receives from LIC if they surrender the policy before its maturity date. The surrender value is calculated based on the premiums paid and the policy’s accumulated bonuses. It’s important to note that the surrender value is typically lower than the sum of premiums paid.
To use the calculator, all you need to do is select your policy type (Endowment, Whole Life, or Term), enter your policy term (in years), total premiums paid (in INR), and policy start date. The calculator will then use a simplified calculation to determine your surrender value.
Welcome to our LIC Surrender Value Calculator, your ultimate tool for calculating the surrender value of your LIC policies. Understanding the surrender value of your policy is crucial if you’re considering exiting your LIC plan before its maturity.
Oct 10, 2019 · As the name implies, surrender value is the amount that is paid by the insurance company on terminating or surrendering the policy. ‘Surrender value’ exists for only those LIC policies that have savings component attached to it.
