How do I find my surrender value?

Accessing Your Life Insurance Policy’s Surrender Value

Knowing the surrender value of your life insurance policy is important for financial planning purposes. Here’s a simple guide to finding your surrender value:

Mobile Application Method:

1. Download the Life Insurance Corporation (LIC) of India mobile application.
2. Log in using your LIC portal credentials.
3. Navigate to the “Policy Information” section in the application.
4. The current surrender amount will be displayed under the policy details.

Online Portal Method:

1. Visit the LIC portal at www.licindia.in.
2. Log in using your registered email address and password.
3. Under the “My Policies” tab, select the policy for which you want to find the surrender value.
4. Click on “Policy Details” and navigate to the “Financial Position” section.
5. The surrender value will be displayed under “Surrender Value as on Date”.

Additional Notes:

• The surrender value is the amount you would receive if you canceled your policy and surrendered it to the insurance company.
• It is typically lower than the face value of the policy and varies based on factors such as the policy premium, age, and duration of the policy.
• It is recommended to review your surrender value regularly to ensure it meets your financial goals.
• Before surrendering your policy, consider the potential tax implications and the impact it may have on your financial security.