How to Surrender and Close Your LIC Unit Linked Life Insurance Policy ULIP Capital Advisor. Thanks for visiting Capital Advisor. LIC-Policy-Surrender-Proposal-Form.jpg' alt='Lic Policy Surrender Online' title='Lic Policy Surrender Online' />Ny Life Surrender FormI frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader. First of all Wishing you and your family a financially prosperous 2. Most financial institutions too allow loans against LIC policies based on the. Surrender of policy. The address of the LIC branch may be on the policy and also the phone number. You can contact the LIC branch directly and fill up the surrender form. IDSERP,5284. 1LIC Surrender Value Calculator PolicyTrayCalculate the estimated surrender value of all the LIC policies. Calculate the paid up value of your LIC policy. And what better a way to start 2. Unit Linked Life Insurance Policy ULIP. I recently closed one, on Ds behalf, and luckily for us we emerged above water on that one. It all started over three years ago even before I met D when an insurance agent sold LICs Money Plus ULIP as a tax saving tool. The premium was Rs 3. How To Surrender Lic Policy' title='How To Surrender Lic Policy' />If you have bought a LIC endowment or money back plan and looking to surrender it for cash value. Here is how you can surrender your LIC policy First Check does. Surrender Form Of Lic Policy Market Plus' title='Surrender Form Of Lic Policy Market Plus' />Rs 3. Rs 3. Since two premiums had already been paid and the policy was way under water, I advised her that there was no choice but to pay the third premium and wait for the third year to get over before we could surrender the policy and hope to get something back. Once the third year was up in June, 2. NAV x Number of Units Allotted quite frequently. Our Rs 9. 0,0. 00 invested was even down to Rs 7. Luckily, our capital markets went up and we managed to surrender the policy at a small profit. Thought Id share the procedure on how to surrender and close your LIC ULIP. Heres what you need to do. Procedure to surrender and close your LIC ULIP. Get the documents listed below into one file Original life insurance policy document. Original premium payment receipts. Latest unit balance statement you get this by post after each premium payment. Download this surrender request letter, fill in your specific details, and print a copy. Get a copy of the S. V. Application and Form No. LIC office and fill it up. Photocopies of 1, 2, and 3 above. Staple together the filled up surrender request letter, original life insurance policy document, photocopy of premium paid receipts, photocopy of latest units allotted statement, S. V. Application and Form No. Lets call this as our Submission Packet. This set of documents is what youll need to submit at the LIC Branch Office from where your policy was issued you cannot submit them at any other branch office. Gratis Software Nero Terbaru here. Staple together the photocopy of the policy document, original premium paid receipts, and original units allotted statement. Lets call this as our Reference Packet. Go to the branch office from where your policy was issued and handover the Submission Packet at the counter. Once your policy details are verified, the person at the counter will print and sign an acknowledgment receipt. Verify the details on this receipt and attach it to your Reference Packet. Wait for the check to reach you by post. Once the check arrives, verify your name and account number for correctness and take a photocopy. Attach this photocopy to your Reference Packet. Deposit the check at your bank. Once the check is credited to your account, tear up your Reference Packet if you feel like doing so. I did. Heres pictorial evidence. Tagged as. ULIPs. Thanks for reading this article. Id love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.