How can I surrender LIC Komal Jeevan policy?

To surrender your policy, you need the original policy bond, photocopy of your premium receipts, application for surrender value, relevant LIC forms (Form no. 3510/5074) and revenue stamp. You need to submit the documents and forms, duly filled, at the LIC office where the policy was issued.

How much will I get if I cancel my LIC policy?

Guaranteed Surrender Value: The policy can be surrendered after it has been in force for at least 3 full years. The Guaranteed Surrender value will be equal to 30\% of the total amount of premiums paid excluding the premiums for the first year and all the extra premiums and premiums for accident benefit / term rider.

Can LIC be broken before maturity?

When you opt-out of a policy before its maturity, then it is called surrendering of the policy and the amount that you receive at the time, is LIC policy surrender value. However, surrender of policy is not recommended since the LIC surrender value will always be subsequently low.

What is the maturity amount of LIC Komal Jeevan?

Q. What are the minimum and maximum amounts that have to be assured under the LIC Komal Jeevan policy? The minimum amount to be assured under this policy is one lakh rupees. The maximum amount to be assured under this policy is twenty-five lakh rupees.

What is loyalty addition on Komal Jeevan plan?

Loyalty Additions: This LIC Komal Jeevan Plan generates profits by engaging in the corporation’s life insurance business to earn a considerable amount of profits. These bonuses are paid on the termination of the policy tenure or on the death of assured.

What is Komal Jeevan plan of LIC?

Komal Jeevan policy offered by LIC is a children’s money back plan which offers financial protection against the event of demise during the plan’s term and periodic payments in case the assured survives. The grandparent or the parent can purchase this LIC money back plan for a child, whose age is between 0 to 10 years.

Can we surrender LIC policy online?

First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. The reason for this is, your all policy documents like proposal forms, loan details and all other details will be available at servicing branch only.

What is the benefits of Komal Jeevan LIC policy?

What is loyalty addition in Komal Jeevan?

How does Komal Jeevan policy work?

What is the benefit of LIC’s Komal Jeevan policy for children?

Komal Jeevan policy offered by LIC is a children’s money back plan which offers financial protection against the event of demise during the plan’s term and periodic payments in case the assured survives. The grandparent or the parent can purchase this LIC money back plan for a child, whose age is between 0 to 10 years.

Why do I have to surrender my LIC Jeevan Labh plan?

There maybe a number of reasons due to which you may have to surrender your LIC Jeevan Labh Plan – Table No. 836. Traditional plans are not designed to offer much flexibility when it comes to exiting anytime before the end of the policy term. You will only get back a part of the premiums which you have paid.

What is the Komal Jeevan calculator?

LIC Komal Jeevan calculator gives you a fair estimate of the surrender value, bonus, Loan, paid up and projected maturity value on the basis of the total premium paid. Please enter correct sum assured, premium, premium paying term, policy term, last premium paid date and your personal details.

Can I Close my LIC policy before the term is complete?

Yes, it is possible for policyholders to close their LIC policy before the term is complete. This closing is called surrendering. Let’s understand the meaning of surrender of LIC plans and how such surrender can be done – What is surrendering of a LIC policy?