SBI Life Insurance Policy Surrender Value Calculator

What is SBI Life Insurance Policy Surrender Value?

Surrender Value of SBI Life Insurance is generally the sum payable by the life insurer when you decide to surrender or give up on your life insurance plan. It's the portion of the premiums you've paid, adjusted for bonuses (if applicable), policy type, and policy duration.

When Does an SBI Life Insurance Policy Obtain a Surrender Value? 

A surrender value of an SBI Life insurance policy can be attained in the following situations: 

1. When the duration of SBI policy is ten years or more

   In this scenario, the surrender amount is acquired if the amount of premium is regularly paid for at least three consecutive years 

2. When the duration of the policy is less than ten years 

   In this scenario, the surrender value is obtained if the premium amount of policy is paid regularly for at least two successive years. 

What is SBI Life Insurance Policy Surrender Value Calculator?

The SBI Life Surrender Value Calculator is a user-friendly online tool designed to calculate the surrender value based on your policy details. Just enter a few simple details, such as:

• Policy type

• Policy term

• Premium paid

• Payment Frequency

• Years completed

What are the Benefits of Using an SBI Life Surrender Value Calculator?

An SBI Life Insurance Policy Surrender Value Calculator is a flexible tool that helps easy and quick comparison of policies based on numerous factors. Using the SBI Life surrender value calculator, policy buyers can analyze their needs and make an informed choice about selecting the right policy.

• Free and Simple to Use: The SBI life insurance policy surrender value calculator is simple and easy to use and can be accessed free of cost online.

• Financial Planning: An SBI life surrender value calculator helps in planning your finances and making well informed decisions.

• Accurate Results: The SBI life insurance policy surrender value calculator provides you with accurate results no matter how many times you use it.

• Quick and Hassle-free: The SBI life insurance policy surrender value calculator can provide results in just a few minutes in a hassle-free way.

• Policy Comparison: Compare surrender values across plans like:

  • SBI Life Smart Swadhan Plus Surrender Value Calculator

  • SBI Life Smart Wealth Builder Surrender Value Calculator

  • SBI Life Smart Platina Assure Surrender Value Calculator

  • SBI Life Retire Smart Surrender Value Calculator

  • SBI Life Smart Platina Plus Surrender Value Calculator

How Is SBI Life Surrender Value Calculated?

Surrender Value = Surrender Value Factor × (Unexpired Policy Term ÷ Original Policy Term) × Total Premiums Paid

Here's a sample Surrender Value Factor Chart:

Note: For single premium plans, the surrender value is generally 70% of the single premium, and surrender is allowed anytime during the policy tenure.

Things to Keep in Mind Before Surrendering

• Loss of Life Coverage

  Once you surrender the policy, your SBI life insurance protection ends immediately. Your family will no longer be financially protected in case of an unfortunate event.

• Reduced Payout

  If the policy is surrendered early—especially within the first few years—the surrender value is usually much lower than the total premiums paid.

• Explore Alternatives First

  Instead of surrendering, consider converting to a paid-up policy or taking a policy loan instead.

Wrapping It Up!

The SBI Life Insurance Policy Surrender Value Calculator is a valuable tool for policyholders wanting to make informed decisions. Whether you need funds for an emergency or are reconsidering your financial strategy, this SBI Life Surrender Calculator gives you a clear picture of your policy's worth at the time of surrender.

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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