How To Calculate Surrender Value Of Lic

How to calculate the surrender value of lic policy-Minimum guaranteed surrender value is equal to 30%of all paid premium minus one premium . There is no surrender value till 3 premiums are paid . For example , if the premium is 10000 and 3 premiums are paid the minimum guaranteed SV will be 30%of 20000 i.e 6000 .

The surrender value of the policy, only after 3 successful years of premium payments, can be calculated as: {Basic sum assured X (number of premium paid/ total number of premium payable) plus total bonus received}, X, the factor of surrender value. Payment In Case Of Surrender Surrender value is determined by LIC policy surrender processing time.

Different policy surrender value s can be calculated using Lic of India surrender value calculator such as Lic Jeevan Anand Surrender Value, Lic Jeevan Saral surrender value, Lic money plus surrender value, etc. Note: In the given below Surrender Value Calculators you can calculate the Cash value which is equal to the Surrender Value.

Special surrender value is calculated as: Special surrender value = [ {Basic sum assured X Number of premiums paid/ number of premiums payable} + accrued bonuses] X applicable surrender value factor For example, you have invested in a policy for 20 years for sum assured of INR 10, 00,000.

LIC Jeevan Anand (149) Surrender Value Calculator | Calculate Jeevan Anand Policy Surrender Value. Jeevan Anand (Table No. 149) can also be surrendered at any time after receiving maturity (after completion of premium paying term).

The final surrender value will be 30% of the Premiums Paid excluding 1st Year Premium. You can use the Official LIC Surrender Value Calculator to quickly determine exact surrender value. Keep in mind there is no surrender value is available if the polices are canceled before at least 3 years premiums are paid.

Can I surrender the sum assured which is liable to be paid by the LIC on Life Assured’s death after the end of stipulated premium paying term. If yes, then what are documents required to be enclosed with such claim for surrender.

Special surrender value = [ {Basic sum assured X Number of premiums paid/ number of premiums payable} + accrued bonuses] X applicable surrender value factor For example, you have invested in a policy for 20 years for sum assured of INR 10, 00,000. Let’s say you are paying a yearly premium of INR 60,000, which you have paid for 4 years.

In the case of Single premium policy, Lic of India surrender value is 90% of the premium (single premium) paid. It excludes the extra premium (if any).

Surrender value is the amount that a policyholder receives from the life insurer when he or she decides to terminate a policy before its maturity period. Suppose the policyholder decides on a mid-term surrender; in that case, the sum allocated towards the earnings and savings would be provided to him.

A surrender charge would be deducted from this amount and this varies from policy to policy. If the policyholder terminates the cover after five years, then as per the recent IRDAI directive, life insurance companies can’t levy any surrender charges. The policy holder will then get the fund value of his investment only.

Under Lic Jeevan anand plan, policy can be surrendered for cash after paying at least 3 full years premiums. GSV = 30% (total amount of premiums paid) – premium for the first year and all extra premium. GSV is not payable after expiry of PPT.

New Jeevan Anand Policy can be surrender at any time, provided premium for at least 3 full years have been paid. Surrender value of Jeevan Anand (815) Plan is sum of percentage of total paid premiums excluding Rider Premium & Taxes (Guaranteed Surrender Value) and percentage of accumulated bonus at the time of surrender.

It is mostly available in endowment insurance policies. Surrender factor in Jeevan Anand is 0.3 after 3 years and 0.5 after paying 4 premiums. This means that your surrender value would be 30% of the total premium paid if you surrender the policy after 3 years.

Surrender value of LIC policy is calculated by multiplying the number of premiums paid and surrender value factor attached to it. It is mostly available in endowment insurance policies. Surrender factor in Jeevan Anand is 0.3 after 3 years and 0.5 after paying 4 premiums.