Get Lic Of India Policy Surrender Form Download

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.

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.

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.

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.

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.

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.

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.