SBI Life Insurance Policy Surrender Value Calculator

The SBI Life Insurance Policy Surrender Value Calculator is an online tool that helps you estimate how much money you will receive if you surrender your SBI Life Insurance policy before maturity. By entering basic policy details like premium amount, term, and duration paid, you can quickly check the surrender value applicable to your plan.

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What is SBI Life Insurance Surrender Value Calculator?

SBI Life Insurance Surrender Value Calculator is an online tool that helps you estimate how much money you’ll receive if you surrender your SBI Life Insurance policy before maturity.

How Does It Work?

The calculator uses details like total premiums paid, policy term, surrender year, and bonuses to compute an estimated surrender value.

How to Use the Surrender Value Calculator?

Simply enter your life insurance policy details: sum assured, premium amount, payment term, and policy duration to get an instant estimate.

What Are the Benefits of Using the Calculator?

It helps you make an informed decision by showing the approximate payout before you actually surrender the policy.

Why Should You Check the Surrender Value?

Knowing the surrender value lets you plan your finances better and evaluate whether continuing or surrendering the policy is more beneficial.

Let’s understand each section in detail:

Term Plans

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Crore

Life Cover

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₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

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:

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
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

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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:

Policy Year	Surrender Value Factor (%)
1st Year	0%
2nd Year	30%
3rd Year	40%
4th Year+	50%
After Premium Term	70%

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

What are the Other Ways to Get Your Surrender Value?

Contact SBI Customer Care - Reach out to SBI Life Customer Care for help. They can give you correct process and value
Use SMS - Send an SMS with “FV/(Policy number)” to get the right value
Log in to the customer portal: Visit SBI Life Insurance official website or app and log in to your account and then check the “Policy Status” section.

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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FAQ's

What is the SBI Life Surrender Value Calculator?

A: It is an online tool that helps you calculate the amount you will receive if you surrender your SBI Life Insurance policy before maturity. It gives a quick estimate based on your policy details like plan type, premiums paid, and term.
How can I use the SBI Life Insurance Policy Surrender Value Calculator?

A: Visit the official SBI Life website, go to Tools & Calculators, and choose the SBI Life Insurance Policy Surrender Value Calculator. Enter your policy details to view the surrender value instantly.
Can I use the SBI Smart Swadhan Plus Surrender Value Calculator separately?

A: Yes, you can calculate the surrender value for this specific plan using the SBI Smart Swadhan Plus Surrender Value Calculator by selecting the correct policy type while entering the details.
What is the surrender value for SBI Life Smart Wealth Builder?

A: You can check it using the SBI Life Smart Wealth Builder Surrender Value Calculator. The value depends on how many premiums you have paid and how long the policy has been active.
How is the surrender value for SBI Life Smart Platina Assure calculated?

A: The SBI Life Smart Platina Assure Surrender Value Calculator uses factors like policy term, premiums paid, and time completed to estimate the surrender amount.
When can I surrender SBI Life Retire Smart policy?

A: The SBI Life Retire Smart Surrender Value Calculator can help you check the surrender value after the lock-in period (usually 5 years for ULIPs) has passed.
Is the SBI Life Smart Platina Plus Surrender Value Calculator available online?

A: Yes, you can use the online calculator for the SBI Life Smart Platina Plus plan to estimate the surrender value by entering basic policy details.
Do I lose all benefits if I surrender my SBI Life policy?

A: Yes, once you surrender your policy, the life cover and maturity benefits end. The calculator only shows the payout amount, not future policy value.
Is there any charge for using the SBI Life Insurance Surrender Value Calculator?

A: No, the SBI Life Insurance Surrender Value Calculator is free to use and available on the SBI Life official website.
Q: Should I buy term insurance or life insurance?

Ans: Whether you should buy term insurance or life insurance depends on your individual needs. If you are looking to secure your loved ones at affordable premiums, then term life insurance might be the right option for you. Whereas, if you are looking to buy a plan that offers financial security for the family as well as wealth creation, then life insurance might be a better fit for you. However, you should always take a thorough look at the policy details for a better understanding of the benefits offered.
How do I calculate the surrender value?

Ans: If the policyholder has opted for limited premium payment, the surrender value is calculated as:
Surrender Value = Surrender Value Factor × Total Premiums Paid.
Can I surrender my SBI life policy after 2 years?

Ans: For most traditional SBI Life policies, you cannot surrender the policy before completing 3 years. The minimum lock-in period is 3 years. If it's a ULIP (Unit Linked Insurance Plan), the lock-in period is 5 years as per IRDAI rules. Surrendering before this may lead to discontinuation charges and delayed payouts.
Q: What is the difference between Guaranteed Surrender Value and Special Surrender Value in SBI Life?

Ans: The Guaranteed Surrender Value is the minimum payout assured as per your policy, while the insurer determines the Special Surrender Value based on bonuses and policy duration. SBI Life pays whichever is higher at the time of surrender.
Q: Can I get the surrender value instantly after applying?

Ans: Once you submit the surrender request along with the required documents, SBI Life usually processes the payment within 7–10 working days, after verification.
Q: Will I get any bonus if I surrender my SBI Life plan?

Ans: Yes, if your SBI Life plan is a participating (with-profit) policy, any vested bonus accumulated till the surrender date is included in the surrender value calculation.
Q: Does surrendering an SBI Life policy affect my credit score?

Ans: No, surrendering a life insurance policy has no impact on your credit score. However, you may lose future insurance benefits and protection once surrendered.
Q: Can I revive my SBI Life policy after surrendering it?

Ans: No, once a policy is fully surrendered and payout is made, it cannot be revived. If you wish to continue insurance protection, you’ll need to buy a new policy.

˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in

Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.

+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 910/month is starting price for a 3 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,374/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

+Rs. 1,924month is starting price for a 7 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.

Women

+Rs. 400/month is Starting price for a 1 crore term life insurance for an 18 year-old Female, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.

Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.

1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

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