26 Dec In ordered to surrender the LIC POLICY, the LIC POLICYHOLDER needed to submit the surrender form duly signed by the POLICYHOLDER on. 27 Jul – Online Insurance, Life Insurance, Car Insurance, Health Insurance, Mediclaim, PA, Travel Insurance, Home Insurance. Online Forms. LIC’s Pensioner’s Page. Claims Under Regular Life Insurance Policies Death Claims: The person legally entitled to receive the policy monies.
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Hari, The money got credited into my savings account in about 20 days. Neeraj Sinha June 18, at After a careful examination of your insurance needs, should you feel the need to surrender your LIC policy, your first step should be to find out relevant 0574 from the LIC India official website http: Nair, Please do some calculation…. Have a question about the infamous Jeevan Anand policy which I took in my ignorance 6 years ago.
I hope this helps you too. Angshuman Paul Eurrender 16, at This is important because you would be sending your Original Policy Document along with it.
What, we planners are surrended you is, go for a Term Plan, and the amount which you have saved from the difference of Jeevan Anand and the Term Plan should be invested in Mutual Funds. After some time, if any one wants some information, they need to refer this blog only. So, for my 2nd policy surrendering it now seems to be better. Food for thought Log in to Reply. In my case, he the agent logged the policy from ‘his’ hometown which is like kms away from my residence and fotm has not even contacted, his contact number has also changed.
Would be great if you can update us here.
How to Surrender and Close Your LIC Jeevan Anand Life Insurance Policy? — Capital Advisor
I frequently update this blog to cover various topics on personal finance such as investment strategiesfinancial products that you should buy and ones that you really should stay away from, financial calculatorsemerging themes such as early retirement and financial independenceand much more.
Can you please also tell me how many days it took for you to get the amount credited. I filled up my form and submitted the same through my agent and the processing happened in around 20 days. Hi Rani, As far as I recollect, it took around days for me to get back my money.
Anonymous May 31, at 3: AVI July 22, at 3: Since the policy was now surrender-worthy, I decided to go ahead and surrender it for whatever it was worth. Fixed deposits in banks. Hari Srinivasa Reddy September 3, at 2: I too have made a mistake in taking this policy 21 yrs, 5 lakhs from a relative.
Hence, I think making the policy paid up is better.
Warm Regards Senthil V. Posted by Neeraj Sinha at 9: I paid Rs 25, each year for 3 years, am only getting back Rs 50, after 6 years, while LIC pockets a cool Rs 90, at my expense. Thanks for sharing such good ideas…. Or is the agent not being true to surfender Should I surrender all these 20 policies?. U have to keep your portfolio diversified. Until now, paid premium quarterly for 2 years approx 72k.
Hey it is very important to do a Cost Benefit Analysis of whether you are going to get a justifiable refund when you close your policies.
Can i surrender the policy and get the money this year. Shankar Anand — Did you get these figures i. It was really very helpful information i got on this blog. I had paid total seven yearly premium. Neeraj Sinha July 22, at Bhaskar Reddy September 2, at 8: Can we use the form in any state?
Hi JK, Not necessary to revive. I paid a total of Rs. The Downloads section has everything but the Policy Surrender Forms.
L.I.C.of INDIA — surrender of policy
Vinaya Yes Log in to Reply. Thitherwards April 8, at 7: But here you missed to add one more thing to open the eyes of these guys who are just here to blame the LIC. I have taken a term policy from LIC in and now I oic to move to another Insurance company as it is offering me lesser premium on a bigger sum assured. Hi Thanks for surfender wonderful blog. This only documents the procedure of doing so, should you ever feel the need, depending on your financial situation. LIC could be a part of it. I am not very sure if you can use Bangalore’s form in Tamil Nadu.
Can we surrender the lapsed policies which has bonus accumulated?