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Thread: Surrender Value of LIC’s Money plus policy

  1. #1
    NewBie
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    Apr 2009
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    Noida
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    Question Surrender Value of LIC’s Money plus policy

    I want to surrender my LIC Money plus policy. I have had already paid three premiums of 15000/- and will complete three years on 15-01-2011. What will be the surrender value of the same? Please also suggest me the surrender form for withdrawal of amount.




  2. #2
    PW Stalwart v.r.s.nathan's Avatar
    Join Date
    Apr 2009
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    Nagpur
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    Default

    As per terms and conditions of the above policy -
    Surrender (including Compulsory surrender): The Policyholder’s Fund Value. The Surrender value, however, shall be paid only after the completion of 3 policy years. So you can surrender it.
    To calculate the surrender value, check current NAV and calculate using below formula -
    http://www.policywala.com/showthread...and-Loan-Value
    Note - Money Plus policy once surrendered cannot be reinstated.

  3. #3
    PolicyWala Fan
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    Apr 2009
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    Default

    Surrender Value = No of years premium paid / Policy term * Sum Assured

    As policy term is not known. Please calculate yourself by entering values yourself.
    Anything dropped on the floor will roll over to the most inaccessible corner.


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