SwiftCalcTools

LIC Surrender Value Calculator

Calculate the surrender value of your LIC policy if you want to exit before maturity. Know what you'll receive after surrendering.

💰 Finance & Money ✅ Free

By SwiftCalcTools Editorial Team · Formula verified

Loading LIC Surrender Value Calculator…

Preparing your calculator

How to Use LIC Surrender Value Calculator

  1. 1Enter the required values in the input fields above.
  2. 2Click the Calculate button or results update instantly as you type.
  3. 3View your results in the output panel below the inputs.
  4. 4Adjust any values to recalculate instantly.

Frequently Asked Questions

Surrender value is the amount LIC pays if you terminate your policy before maturity. LIC pays the higher of Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV).
You can surrender a traditional policy after paying premiums for at least 3 consecutive years. Surrendering before 3 years results in forfeiture of all premiums.
GSV (Guaranteed Surrender Value) is the minimum you are guaranteed to receive per IRDAI regulations. SSV (Special Surrender Value) is computed by LIC based on the paid-up value and is usually higher than GSV.
No. Surrender always results in a loss compared to premiums paid, especially in early years. Surrender is advisable only when you genuinely cannot continue paying premiums.
Consider making the policy "paid-up" (stop paying premiums but keep the policy active with reduced SA) or taking a policy loan against the surrender value instead of surrendering.
If the policy does not qualify under Section 10(10D) (e.g., premium > 10% of SA), the surrender value may be taxable. Consult your tax advisor.