LIC Surrender Value Calculator

Standard User Guide:

1. Input Fields Explanation:

   • Policy Type: Select between Endowment or Money Back plans

   • Annual Premium: Yearly premium amount in ₹

   • Policy Term: Total duration of policy in years

   • Years Paid: Number of years premiums have been paid

   • Bonus Accumulated: Total bonus received (if any)

2. Calculation Process:

   1. Select policy type from dropdown

   2. Enter annual premium amount

   3. Enter total policy term in years

   4. Enter number of years premiums have been paid

   5. Enter bonus amount (if applicable)

   6. Click “Calculate Surrender Value”

3. Result Interpretation:

   • Total Premiums Paid: Sum of all premiums paid till date

   • Surrender Value Factor: Percentage applicable based on policy type and duration

   • Surrender Value: Estimated amount receivable on surrender

4. Important Notes:

   • Minimum 3 years premium payment required for surrender value

   • Surrender value factors increase with policy duration

   • Money Back plans typically have lower surrender factors

   • Bonus amounts vary based on policy performance