Lic surrender form 2025

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.
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How is the LIC Maturity Amount Calculated? Calculate the Bonus: (15,00,000/1000) x 42 x 20 = 12.6 Lakh. Calculate the Final Additional Bonus: 15,00,000/1000) x 22 = Rs. 33,000. Calculate the Total Maturity Value: 15,00,000+12,60,000+33,000 Rs. 27,93,000.
Fortunately, its easy to calculate your cash surrender value. First, add up the total payments youve made toward your life insurance policy. Then, subtract the surrender fees your insurance company will charge. Youll be left with the actual payout you may receive if you terminate or surrender your life insurance.
Yes, you can close your LIC policy before maturity either by physically visiting your nearest LIC branch by contacting your LIC agent or by filling out a surrender application online.
SSV = [{(Number of premiums paid/Number of premiums payable) * Sum Assured} + Accrued bonus] * Surrender Value Factor (SVF). The Surrender Value Factor (SVF) is determined by the insurance company, varying with the policy year of surrender.
The surrender value of the policy can be calculated as: {Basic sum assured (number of premiums paid/ total number of premiums payable) plus total bonus received} multiplied by X, where X is the surrender value factor.
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People also ask

You can follow these steps to claim LIC policy after maturity: Submission of Discharge Form/Discharge Voucher (form 3825) Presenting the Original LIC Policy Bond Paper. Provide a Copy of Identity Proof (PAN card) Furnishing a Copy of Address Proof (Aadhar Card, Passport, Driving License)
Guaranteed Surrender Value: After payment of premiums for at least three years, the Surrender Value allowed under the policy is equal to 30% of the total premiums paid excluding premiums for the 1st year and all extra premiums.

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