Beautiful What Is Lic Surrender Value Background
Beautiful What Is Lic Surrender Value
Background. Under some lic plans, bonuses are part of the surrender value. After 3 years of active policy, minimum 30% of all the premiums excluding first year premium and also if there is any bonus vested for the policy.
Surrender value of the plan = guaranteed surrender value of the plan + surrender value of vested reversionary bonuses.
Cash surrender value is the sum of money an insurance company pays to the policyholder or account owner upon the surrender of a policy/account. Get the surrender value in your lic jeevan labh policy. The cash surrender value of an annuity is equal to the total contributions and accumulated earnings, minus prior withdrawals and outstanding loans. Lic policies can be surrender at any time, provided premium for at least 3 full years have been paid.