Hi All, I am writing this post becs. i have just experienced how easy is to surrender LIC Policy in india. 1. We can surrender any LIC policy after its first 3 years full premium paid. 2. you don't get full amount what you paid as premium in the past. it will around 30% of what we paid. That will be real loss of money. So you surrender your policy if you really want to. 3. Form required for surrender are: . Covering letter stating your need for cancellation. · Original Policy Certificate · Surrender Value Discharge Form · NEFT Mandate Form (Name of Primary Account Holder of bank should match with Name of the LIC Policy holder) · Cancelled Cheque.(of same bank) . Singed ID Proof (PAN Card copy or Passport copy) 4. You should receive your money in your bank account within 10 days. For Surrender Value Discharge Form and NEFT Mandate Form you just call customer care and they will email you latest form. They also can give you your surrender value for your policy. Customer care numbers available on LIC of india Web site www.licindia.in
