I want to close my LIC prematurely?

by admin on June 26, 2011

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

I want to close my LIC prematurely. The peroid was for 10 year. Now it has been 3 years and I am thinking of closing it. Will I get atleast the paid amount, let go the intrest. Where can i get more details about this.


Those who found this page were searching for:

premature closure of lic policy,i want to close my lic policy,prematurely closing lic policy,how to close my lic policy,how can i close my lic policy,how to close my lic policies,can i close my lic policy,hou to close my lic policy,closing lic policy prematurely,premature closure lic policies

{ 5 Answers… read them below or add one }

Rohit June 26, 2011 at 8:58 am

yes you can close it prematurely. you will get amount paid plus interst. for more detail go thru http://www.licindia.com/


Bharat June 26, 2011 at 8:58 am

It will depend on the surrender rules in that policy. You will loose too much if you will surrender it now.


toknowmore June 26, 2011 at 8:58 am

Dear AJ

You have not mentioned whether it is a traditional policy or a ULIP policy. Find the guaranteed surrender value.

If it is a traditional policy, after atleast 3 years premium paid, the surrender value will be 90% of all basic premiums paid less first year’s premium.

visit the following website
and register yourself and enroll policy details then you can find the surrender value.

good luck
[email protected]


Monu Sharma September 27, 2012 at 9:11 am

I have taken my LIC policy in 2011. But my LIC agent is creating problem with me, he is not helping me to collect my premiums on time, help in changine my mode from yearly to semi/half yearly & even though answering to my quarries. I most irritating part is that he is ignoring me and even he don't picks my call when I have some quarries. My next premium date is on 28/9/2012 (i.e.tomorrow) & today is 27/9/2012. I am calling him last 15 days to remind him abt my premium..but he is ignoring me. My policy no. is-126066284 (jeevan saral, plan no. 165).

I am very confused..don't know what to do..so I request yo to please please help me…:(


admin September 30, 2012 at 10:01 am

Why are you dependent on your agent for your policy? If he is not helping you, forget it. You can register your LIC policy online once and then you can pay your premium online. You can also opt for ECS mandate to automatically pay premium from your bank account.

Check more at http://www.investmentkit.com/articles/2012/02/how-to-view-lic-policy-details-online/
and http://www.investmentkit.com/articles/2011/03/14-alternate-ways-to-pay-your-lic-premium-part-3/

Hope it will help you.


Subscribe to Professional Answers on Investments by Email

Note: You will soon get email from Google Feedburner to confirm your subscription.

Professional Answers on Investments

Leave a Comment

If you are not satisfied with the above answers, tell us below and we will give you right answer.


If you know the better answer, post below and prove your knowledge.

Previous post:

Next post: