LIC Policy Surrender Rules And Documents

Lic policy surrender Process rules and documents.LIC Policy Status: If you also need money and if you want to withdraw all your money before the LIC policy expires, now you can do this easily. You don't have to worry at all for that. LIC also gives you the facility to surrender the policy.

You can surrender after 3 years

If you have also taken an LIC policy and you want to surrender it, you can easily surrender the policy, but there are some rules. You can surrender the LIC policy only after 3 years. If you do before that you will not get any money.

What is the rule of surrender?

If you want to surrender the LIC policy you can. You can surrender it only if you have paid full three years of premium. You can't do that before. Even if you want to stop it, no refund will be given to you.

How much money will you get?

If you are thinking that surrendering the policy is that easy then it is not. You have to bear many types of losses in it. Suppose you pay for full 3 years then you get only 30% of the money. You are paid only for your payments. You get no interest and no bonus in it. You get only 30 percent of the amount.