Lic Surrender Value
LIC Surrender Value: Everything You Need to Know Life Insurance Corporation of India (LIC) is one of the most trusted insurance providers in India. Many policyholders, for various reasons, may choose to surrender their policies before maturity. In such cases, they receive a surrender value, which is the amount paid by LIC upon termination of the policy before its completion. This article provides a detailed explanation of LIC surrender value, its calculation, types, factors affecting it, and whether surrendering a policy is the right decision. What is LIC Surrender Value? The surrender value is the amount a policyholder receives from LIC when they decide to terminate the policy before its full term. However, surrendering a policy comes with certain financial implications, as the surrender value is often lower than the total premiums paid. There are two types of surrender values in LIC policies: Guaranteed Surrender Value Special Surrender Value Each type has different c...