LIC Jeevan Saral Surrender Value Calculator

LIC Jeevan Saral has been withdrawn by the company and therefore, cannot be purchased anymore. It was introduced as an endowment plan meaning that policyholders could enjoy a life cover as well as maturity benefit at the end of the policy term. It also offered a surrender value to policyholders who did not wish to continue with the policy. You can calculate this amount using LIC’s online calculators. 

Read more
LIC Plans-
Buy LIC policy online hassle free
Tax saving under Sec 80C & 10(10D)^
Guaranteed maturity with life cover for securing family's future
Sovereign guarantee as per Sec 37 of LIC Act
LIC life insurance
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold
Now Available on Policybazaar
Grow wealth through
100% Guaranteed Returns with LIC
We don’t spam
View Plans
Please wait. We Are Processing..
Your personal information is secure with us
Plans available only for people of Indian origin By clicking on ''View Plans'' you, agreed to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp
We are rated~
6.7 Crore
Registered Consumers
Insurance Partners
3.4 Crore
Policies Sold

What is the LIC Jeevan Saral Surrender Value Calculator?

It is a tool that calculates how much money you can encash out of the policy benefits if you stop paying premiums. Calculating this amount will help you decide if it is even worth surrendering it at this point and how much you stand to lose if you do so.

Surrendering a policy is usually not recommended because the amount you receive is significantly lower than what you actually invest in the premiums.

Things to know before surrendering LIC Jeevan Saral

To use the LIC Jeevan Saral surrender value calculator you should be aware of the following -

  • It can be surrendered only after paying premiums continuously for 3 years.

  • You get paid either the guaranteed surrender value or the special surrender value. LIC calculates both and pays whichever is higher at the time of surrender.

  • The guaranteed surrender value does not consider the premium paid for the 1st year and those paid for riders.

  • Bonuses and loyalty additions are also paid as part of the surrender value but not the full amount.

You can use the guide to surrendering LIC policies before maturity to understand how surrender value works for all your LIC policies.

How to calculate the surrender value of LIC Jeevan Saral?

The LIC Jeevan Saral surrender value calculator factors in the total premiums paid by you till date. Here’s how you can calculate the guaranteed and the special surrender values of your Jeevan Saral policy -

  1. Guaranteed Surrender Value (GSV)

    It is equal to 30% of the total premiums paid till date. Let’s take an example. Say that you have been paying a premium of Rs. 1 Lakh every year. At the end of the 6th year, you decide to surrender the policy. This brings your total premium paid to Rs. 6 Lakhs.

    Now GSV does not include the 1st year’s premium. Therefore, it will be calculated as 30% of the premium paid for 5 years, which brings your GSV to Rs. 1.5 Lakhs.

  2. Special Surrender Value

    When you decide to surrender a policy before maturity, the maturity sum assured reduces based on the premiums paid till date. Now, special surrender value is defined as a percentage of this reduced maturity sum assured. Here’s is how the LIC Jeevan Saral surrender value calculator estimates the special surrender value -

    • If you have paid premiums for less than 4 years, 80% of the reduced maturity sum assured is paid to you.

    • If you have paid premiums for more than 4 years but less than 5 years, 90% of the reduced maturity sum assured is paid to you.

    • If you have paid premiums for more than 5 years, 100% of the reduced maturity sum assured is paid to you.

To Sum Up!

While surrendering is not recommended, it might be the only option for people in urgent need of cash. However, if you are someone who has other options to explore, you would be wise to continue you policy and let it become a paid-up policy. This way the life cover remains intact and you still stand a chance to receive a portion of the assured benefits.

*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

LIC of India
LIC Plans
LIC Jeevan Utsav
LIC Jeevan Kiran
LIC Dhan Vriddhi
LIC Monthly Investment Plans
LIC Jeevan Azad
LIC 1 Crore Endowment Plans
LIC Jeevan Labh 1 Crore
LIC Crorepati Plan
LIC Dhan Varsha - Plan No. 866
LIC Pension Plus Plan
LIC New Jeevan Shanti
LIC Bima Ratna
LIC Group Plans
LIC Fixed Deposit Monthly Income Plan
LIC Savings Plans
LIC’s New Jeevan Anand
LIC New Jeevan Anand Plan 915
LIC's Saral Jeevan Bima
LIC's Dhan Rekha
LIC Jeevan Labh 836
LIC Jeevan Jyoti Bima Yojana
LIC Child Plans Single Premium
LIC Child Plan Fixed Deposit
LIC Jeevan Akshay VII
LIC Yearly Plan
LIC Bima Jyoti (Plan 860)
LIC’s New Bima Bachat Plan 916
LIC Bachat Plus Plan 861
LIC Policy for Girl Child in India
LIC Samriddhi Plus
LIC New Janaraksha Plan
LIC Nivesh Plus
LIC Policy for Women 2024
LIC Plans for 15 years
LIC Jeevan Shree
LIC Jeevan Chhaya
LIC Jeevan Vriddhi
LIC Jeevan Saathi
LIC Jeevan Rekha
LIC Jeevan Pramukh
LIC Jeevan Dhara
LIC Money Plus
LIC Micro Bachat Policy
LIC Endowment Plus Plan
LIC Endowment Assurance Policy
LIC Bhagya Lakshmi Plan
LIC Bima Diamond
LIC Anmol Jeevan
LIC Bima Shree (Plan No. 948)
LIC Jeevan Saathi Plus
LIC Jeevan Shiromani Plan
LIC Annuity Plans
LIC Jeevan Akshay VII Plan
LIC SIIP Plan (Plan no. 852) 2024
LIC Jeevan Umang Plan
LIC Jeevan Shanti Plan
LIC Online Premium Payment
LIC Jeevan Labh Policy-936
LIC Money Plus Plan
LIC Komal Jeevan Plan
LIC Jeevan Tarang Plan
LIC Bima Bachat Plan
LIC’s New Money Back Plan-25 years
LIC Money Back Plan 20 years
LIC Limited Premium Endowment Plan
LIC Jeevan Rakshak Plan
LIC New Jeevan Anand (Previously LIC Plan 149)
LIC New Endowment Plan
LIC Varishtha Pension Bima Yojana
LIC Investment Plans
LIC Pension Plans
Show More Plans
LIC Calculator
  • One time
  • Monthly
/ Year
Sensex has given 10% return from 2010 - 2020
You invest
You get
View plans
Download the Policybazaar app
to manage all your insurance needs.