LIC Jeevan Saral Surrender Value After 10 Years Calculator

The LIC Jeevan Saral Surrender Value Calculator offered by the LIC helps policyholders to estimate the surrender value of their LIC Jeevan Saral policy. LIC has withdrawn its Jeevan Saral policy. Those whose policies are ongoing and want to surrender it for cash can first use LIC’s online calculator to see how much they are entitled to.

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LIC Jeevan Saral Surrender Value Calculator- An overview

LIC Jeevan Saral Surrender Value Calculator is an online tool provided by the LIC of India that helps policyholders estimate the potential surrender value of their LIC Jeevan Saral policy. It is designed to give an approximate value that policyholders would receive if they surrender or terminate their policy before its maturity date.

The surrender value of an insurance policy is typically calculated based on several factors, including the policy type, duration, premium payments made, and any applicable fees or charges.

When Can I Surrender the LIC Jeevan Saral Policy?

LIC Jeevan Saral can be surrendered anytime after paying premiums for the first 3 years. You are likely to receive a higher amount if the policy is nearing maturity. If not, the surrender value will depend on the total premiums paid by you. 

LIC will either pay you the guaranteed surrender value or the special surrender value, whichever is higher at the time of policy surrender. The LIC Jeevan Saral surrender value calculator will help you estimate this amount before you actually surrender the policy. 

How to calculate LIC Jeevan Saral Surrender Value After 10 Years?

The LIC Jeevan Saral surrender value calculator after 10 years calculator uses the following formula to calculate the surrender value of the policy - 

  1. Guaranteed Surrender Value

    If you have paid premiums for 3 years, you will get a guaranteed surrender value of 30% of the total premiums paid minus the 1st year’s premium and that of other riders. If you have been paying premiums for 10 years or more, LIC declares a guaranteed surrender value factor. In this case, guaranteed surrender value will be equal to :

    (total premium paid multiplied by the guaranteed surrender value factor) plus (bonus multiplied by surrender value factor for bonus).

  2. Special Surrender Value

    For LIC policies, the special surrender value is equal to (Original sum assured multiplied by (number of premiums paid / number of premium payable) + total bonus received) * surrender value factor. 

    In the case of LIC Jeevan Saral, the special surrender value depends on the reduced maturity sum assured. The maturity sum assured reduces as per the number of premiums paid. The LIC Jeevan Saral with profits surrender value calculator uses the following criteria to estimate the special surrender value -

    (a) On paying premiums for less than 4 years, 80% of the reduced maturity sum assured is paid to you.

    (b) On paying premiums premiums for more than 4 years but less than 5 years, 90% of the reduced maturity sum assured is paid to you.

    (c) On paying premiums premiums for more than 5 years, 100% of the reduced maturity sum assured is paid to you.

    Based on how many premiums you have paid so far, all you have to do is insert the numbers in the formula above. If the guaranteed surrender value comes out to be higher, you will be paid the same and the life cover shall end immediately. If the special surrender value amounts higher, LIC will pay you this amount instead. 

In Conclusion

It is not recommended that you surrender your policy. You stand to lose money if you do so, in addition to losing out on the insurance protection of the policy. However, if you urgently need capital, you should first use the LIC Jeevan Saral surrender value after 10 years calculator to know how much you will get back. This might prompt you to look for alternative options to fund your needs instead of surrendering it and not getting the worth of your investment back.


  • Q: Can I surrender my LIC Jeevan Saral policy after completing 6 years?

    Ans: You can surrender your LIC policy after completing the first three years. Take the help of LIC Jeevan Saral surrender calculator to calculate your LIC Jeevan Saral surrender value after 6 years.
  • Q: What documents are required to surrender a LIC Jeevan Saral Policy?

    Ans: Generally, to surrender LIC Jeevan Saral Policy, you must submit a surrender request form, a cancelled policy document, and identification proof.
  • Q: What will be the LIC Jeevan Saral Surrender Value after 6 years?

    Ans: The calculation of the LIC Jeevan Saral surrender value after 6 years depends on various aspects such as the premium amount paid, policy duration, premium payment term, and applicable surrender charges.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
^Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
+Returns Since Inception of LIC Growth Fund
~Source - Google Review Rating available on:-
++Returns are 10 years returns of Nifty 100 Index benchmark

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