The surrender value of a life insurance policy is the amount of money that the policyholder is entitled to receive if they decide to cancel or surrender their policy before it matures.
The surrender value is determined based on several factors, including the duration of the policy, the amount of premiums paid, the type of policy, and any fees or charges associated with the policy.
To calculate the surrender value of a life insurance policy, you will need to follow the terms and conditions of the policy document. Typically, the insurance company will provide a table or formula in the policy document that specifies how the surrender value will be calculated.
One can easily calculate surrender value of LIC Policy with the help of this LIC Policy Surrender Value Calculator online
