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LIC of India policy surrender form download click here to downloadOnline Forms. LIC's Pensioner's Page. A. Claims Under Regular Life Insurance Policies Death Claims: The person legally entitled to.
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APS FAQ
I am _____________ (your name) holding an insurance policy having policy number ________________(policy number) from your company ( insurance policy company name). All the premiums are paid till date and due to_____________________ (mention the reason of surrender), I would like to surrender my policy.
A policy surrender request must be filled up and submitted to the insurance company. The original policy document, a cancelled cheque and self-attested copy of KYC documents need to be enclosed with the application.
Guaranteed Surrender Value = 30% X Total premiums paid. The first-year premiums and all the added premiums or premiums for accident benefit or the term rider are excluded from the same. The percentage to be paid may depend on the policy plan and the year in which an individual will surrender the policy.
When discussing life insurance, there are some terms that are easily confused. Some people may wonder what is the difference between cancellation and surrender of an insurance policy? The answer is that cancelling and surrendering an insurance policy are the same thing.
This is an Application Form 5704/3510 for the LIC policyholder who wants to surrender his/her life insurance policy or make a partial withdrawal from the policy fund and this form can be download from the link given below free of cost.
The policyholder needs to visit the nearest branch of LIC along with a surrender discharge voucher. The surrender discharge voucher is called Form 5074. The policyholder should fill up and sign the form. After the submission of the form and documents, the company starts the process of surrendering the policy.
To surrender a policy, simply follow these procedures. Contact your insurance provider and inform them of your intent to surrender. Request a surrender form and ask if a letter of instruction will be sufficient to surrender the policy. Fill in the surrender form exactly as required, or write the letter of instruction.
There are many good reasons to think about surrendering your life insurance policy, including: The reason you originally bought the policy no longer exists. You can't afford to pay the premiums anymore. You need cash, and this is your only source of available funds.
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