Want to know surrender value of lic policy
sir my friend is paying rupees 2120 monthly premium for lic new endowment plan ( plan no 814 ) . He paid 40 installments i.e 2120×40=84800 . Now he wants to surrender that policy.
So my question is what will be the exact surrender value he get ? Please reply & thanks in advance .
1 Answers
Hi,
The policy can surrendered for cash provided atleast three full years’ premiums have been paid. The Guaranteed Surrender value shall be percentage of total premiums paid (net of service tax) excluding extra premiums and premiums for riders, if opted for. This percentage will depend on the policy term and policy year in which the policy is surrendered.
You may kindly contact LIC for exact surrender value calculation.
You may also visit this LIC link ....
Kindly note that these kind of traditional plans yield very low returns and also do not provide adequate life insurance cover at affordable rates.
Suggested readings :
https://www.relakhs.com/lic-2014-new-plans-list-all-insurance-table/
https://www.relakhs.com/traditional-life-insurance-plan/
https://www.relakhs.com/how-to-get-rid-off-bad-life-insurance/
https://www.relakhs.com/best-online-term-insurance-plans-india/
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