LIC Policy Surrender: Many times people buy it without knowing the benefits and features of LIC properly and keep repenting later.
LIC Policy Surrender: Life Insurance Corporation of India i.e. LIC’s life insurance policy is India’s largest and famous insurance company. From the beginning till now, the company has done the work of taking out many types of LIC policies. But many times people buy it without knowing the benefits and features of LIC properly and keep repenting later.
However, there is also an option to exit the policy before its maturity. If you are not happy with your policy, you can surrender before maturity. For this, customers have to take care of some things. Once the LIC policy is surrendered, the life insurance cover ends as the agreement between the company and the customer ends after that.
This is how you can surrender the policy
Surrendering before maturity reduces the value of the policy amount. The policy can be surrendered only after the premium has been paid for at least 3 consecutive years. Whereas no value is given in case of surrender before three years. Under the Guaranteed Surrender Value, the customers will get 30 percent money from the company excluding the premium paid and the premium paid for accidental benefits. The late the policy is surrendered, the more money is received. To get more information about this you can visit the website of LIC.
How to check LIC policy status
To know the status of the policy, you have to visit the official website of Life Insurance Corporation of India ie LIC. You can visit https://www.licindia.in/ for this. Here you have to first register yourself. To register, visit the website link https://ebiz.licindia.in/D2CPM/#Register.
Here you enter your name, policy number and date of birth. Once the registration is done, you can check the status by opening your LIC account anytime. For more information, you can also get special information directly on the phone. For this you can call on 022 6827 6827. You can also send this number to 9222492224 by writing LICHELP . There is no cost for this.