While Designing an Online LIC Surrender Value Calculator please follow some points given below:
- Choose the Policy Year Less Than the Policy Term.
- Policy Year means after how many years you want to Surrender Your Policy
- Policy Term Means How Long is Your Policy Term (Payment Term).
- Premium Paid for 1 Year, this is only Single Year Value, If your Policy is Monthly/Quarterly please add those values together for a single year and then enter.
What is Surrender Value Calculator?
LIC Surrender Value Calculator is a tool that helps you to calculate how much money you will get back out of the amount of Premium you have paid for your LIC policy till now.
For Example:- you Paid for the first 5 Years (Policy Year) out of your LIC Policy Term of 15 Years (Policy Term) and your Yearly Premium was ₹15,000/- (Premium Paid for 1 year); Now, based on this information the calculator below will show how much money you will get back if you submit the LIC Policy Surrender Form no.5074, to the LIC Office.
You can use the table value for the surrender return given at this source
I am expecting your Excel samples in the Comment section.
