LIC Surrender Calculator
Do you want to stop your policy? Use our LIC Calculator to see how much money you can get back. The LIC Calculator is easy and fast.
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Put your LIC policy details here to see how much money you can get back from this LIC Calculator.
Important Disclaimer
This LIC Calculator provides an estimated surrender value based on standard LIC formulas and assumptions. The actual surrender value may vary depending on specific policy terms, bonus declarations, additional riders, and LIC's prevailing surrender value factors at the time of surrender. This LIC Calculator tool is for informational purposes only and should not be considered as financial advice.
Calculate Your Policy's Surrender Value with Precision
Thinking about discontinuing your policy? Use our LIC Calculator to find your exact surrender value today. Our 2026 logic uses the latest LIC surrender factors to ensure you get the most accurate exit estimate.
What is Surrender?
Surrendering is the act of terminating your life insurance policy before it reaches its full term. Our LIC Calculator shows you the cash value you will receive back.
3-Year Rule
Typically, an LIC policy can be surrendered only after it has been in force for at least 3 full years. Use the LIC Calculator to check if your policy is eligible.
Tax Implications
Surrender values may be taxable if the policy is exited early. Our LIC Calculator helps you see the gross amount before any deductions.
Guaranteed Surrender Factors
Understand how much money LIC returns based on your premium tenure.
| Year of Surrender | GSV Factor (%) | Bonus Factor (%) |
|---|---|---|
| Year 2 | 30% of Premium | 0% |
| Year 3 | 35% of Premium | 0% |
| Year 4-7 | 50% of Premium | 15-18% of Bonus |
| Year 10+ | 70-90% of Premium | 25-30% of Bonus |
* Note: First year premiums and GST are excluded from the surrender value calculation in our LIC Calculator.
Why the Special Surrender Value (SSV) Matters
LIC generally pays the higher of the Guaranteed Surrender Value or the Special Surrender Value. Our LIC Calculator projections focus on helping you find this higher value so you don't lose your hard-earned money.
The SSV Formula
(Paid-up Value + Accrued Bonus) × SV FactorPaid-up value is proportional to the premiums you've already paid.
Accumulated bonuses are added back to your benefit.
The SV Factor is a percentage that increases as the policy nears maturity.
Always use an <strong>LIC Calculator</strong> to verify these complex math parts.
Surrender Value FAQs
Can I surrender my policy online?
Most surrenders require a physical visit to the LIC home branch with your policy bond. However, you can check your exit value instantly on our LIC Calculator.
Is the first year premium refundable?
No, according to LIC rules, the first year's premium is not included in the surrender value calculation. Our LIC Calculator accounts for this rule automatically.
What is the penalty for surrendering?
The difference between the total premiums paid and the surrender value is essentially the penalty for early exit. Use the LIC Calculator to see this difference.
Does the LIC Calculator include bonus?
Yes, our advanced LIC Calculator for surrender value includes accrued reversionary bonuses as per the latest 2026 charts.