Advanced LIC Surrender Value Calculator
What is LIC Surrender Value?
LIC Surrender Value is the amount payable to the policyholder if they choose to terminate their LIC policy before maturity. The amount is calculated based on the total premium paid, completed policy years, and applicable bonuses.
How to Use This Calculator?
- Enter the total premium paid.
- Input the total policy term.
- Enter the number of years you have completed.
- Add the bonus amount (if applicable).
- Click the “Calculate Surrender Value” button to get the estimated surrender value.
Extra Information
Most LIC policies acquire a surrender value after completing at least three years. However, surrendering a policy may result in a lower payout compared to the maturity benefits. Consider options like policy loans or partial withdrawals before surrendering.