LIC Policy Surrender Value Calculator

The LIC Policy Surrender Value Calculator helps you estimate the amount you may get if you surrender your policy early. This tool gives a basic idea of your surrender value so you can make an informed financial decision.

LIC Policy Surrender Value Calculator

Calculate the estimated surrender value of your LIC policy instantly. Get both Guaranteed Surrender Value (GSV) and approximate payout details.

Select Your LIC Policy

Sum Assured (₹)

₹

Policy Term (Years) Premium Paying Term assumed same as Policy Term (20 years).

Premium Payment Mode

Annual Premium Amount (₹)

₹

Enter the total premium amount paid *per year*.

Number of Full Premiums Paid (Years) How many full years’ premiums have you paid?

📊 Calculation Summary

Total Premiums Paid: ₹1,00,000

Assumed Premium Paying Term (PPT): 20 Years

Estimated Surrender Factor (Years Paid / PPT): 0.20

Estimated Guaranteed Surrender Value (GSV): ₹20,000

This GSV estimate is based only on premiums paid and assumed PPT.

💡 Understanding Your Estimate:

Note: The value shown above is only an estimate of the Guaranteed Surrender Value (GSV), based on the total premiums paid and the assumed policy term.

LIC may also calculate a Special Surrender Value (SSV), which includes any bonuses your policy may have earned — such as Reversionary Bonus or Terminal Bonus.

👉 This calculator does not include bonuses or estimate the SSV.

When you surrender a policy, LIC usually pays whichever is higher — the GSV or the SSV. In many cases, especially after several years of premium payments, the SSV can be much higher than the GSV due to these bonuses.

🔄 Alternatives to Surrendering

💰 Policy Loan

Instead of surrendering, check if you can take a loan against your policy’s value. Often, up to 80-90% of the surrender value is available as a loan, allowing your policy (and risk cover) to continue.

📋 Make Policy Paid-Up

Another option might be to convert your policy to ‘Paid-Up’ status (if eligible). You stop paying premiums, and the Sum Assured is reduced proportionally. The reduced cover continues until maturity or claim.

📋 Important Next Steps

Verify with LIC: This calculator provides an estimate only. For the exact, current surrender value (GSV & SSV), please contact your LIC agent, visit the nearest LIC branch, or check the official LIC customer portal.
Consult Policy Document: Refer to your original policy document for specific terms, conditions, and rules regarding surrender, loans, and paid-up values applicable to your plan.
Evaluate Alternatives: Carefully consider if taking a loan or making the policy paid-up is a better option for you than surrendering and losing the life cover completely.
Understand Implications: Remember that surrendering the policy terminates the life insurance cover and any future benefits associated with it.

Disclaimer: This calculator assumes that the Premium Paying Term (PPT) is equal to the Policy Term — unless it’s a Single Premium policy, in which case the PPT is considered as 1. Based on this assumption and the total premiums paid, it provides an estimated Guaranteed Surrender Value (GSV).

Please note:

The actual surrender value can vary depending on your specific policy’s terms — especially if it’s a Limited PPT policy.
This estimate does not include any accrued bonuses. These bonuses, if applicable, can significantly increase the Special Surrender Value (SSV).
Most policies become eligible for surrender value only after 2 or 3 full years of premium payments — except for Single Premium policies, which may acquire value earlier.

👉 For the most accurate information, always refer to your policy document or get in touch with LIC. Also, keep in mind that term insurance plans usually do not offer any surrender value.

It explains how surrender value works, what factors influence the payout, and how your policy’s premiums and term affect the final amount.