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Surrender of Policy

Surrender of Policy by an NRI

In my opinion, any LIC policy should not be surrendered unless there is dire need of money and there is no other option left except to surrender the LIC policy. There are reasons behind my advice, first, when you surrender your LIC policy, you lose the insurance cover provided by the policy, secondly the reversionary bonus that is added to the LIC policy every year is not fully paid to you, some part is deducted at the time of surrender depending upon the period you paid the premiums for, third and last you also lose the final addition bonus which is paid at the time of maturity.

However, if you do not have any other option except to surrender the policy, first of all you should check the surrender value of your LIC policy.

To surrender an LIC policy by an NRI, you may contact us at +91-9230091000 or submit the enquiry form.

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