Surrender Value In LIC Policy.

Its a confusion for every policy holder that how much he/she will recieve,if he/she will stop paying premium or wants to close policy or surrender the policy.So,below I have provide some details for removing your confusions.When you purchase a LIC policy, you may pay every premium regularly. But in some cases, you might be in a financial crisis or you may feel that you need not continue the policy as you have life insurance cover from some other insurance products. In such cases, if you had decided not to pay any premium further, you shall stop paying the premium but not surrender the policy where the policy will become a paid up policy. A paid up policy will provide you the paid up return value at the end of the policy term. Rather than surrendering a policy, its always better to make a policy as paid up, so that you will have a better returns accumulated at the end of the policy term.For more help you can submit your query with your policy no here : http://thepolicykart.com/query.php

Maturity Calculation Of LIC Plans.

In LIC’s any policy Final Maturity Value is Sum Assured+ Yearly Bonus+Final Additional Bonus
Yearly Bonus are the Bonus announced by LIC every year. You can easily check every plans bonus rates from LIC official website.

Suppose you have taken an LIC JeevanAnand policy having a Sum Assured of Rs 5,00,000 ( 5 Lakh)

for a period of 25 years. then your final maturity value will be sum of

Yearly Bonus : Avg rate of 46 per 1000 Sum Assured ( Based on Last 10 years)  will generate a bonus of  Rs 23,000 per year. For a period of 25 years this value will be 23,000*25= Rs 5,75,000

Final Additional Bonus: Final Additional Bonus is payable on maturity, discounted claim or in case of death claim provided policy is in full force and premiums have been paid/ recovered for 15 years or more.

LIC Jeevan Anand Maturity Value will be Rs 5,00,000 (S.A) + Rs 5,75,000(Yearly Bonus) + FAB of the year of the policy.Also I am saw here the maturity value in minimum bonus of LIC,Because when you check the bonus rate of LIC New Jeevan Anand,Than you can clearly show that JeevanAnand Bonus rate provided by LIC is minimum 46 and maximum 48 Rs per 1000 available.