search icon
back arrow Back

Surrendering LIC Jeevan Umang

reply Share
29 Nov, 2023 by  Harsh Garg

I bought LIC Jeevan Umang Policy in 2022 :

  • Sum Assured (25L)
  • Policy paying term (20Y)
  • Yearly Premium (1.3L)

So far I have paid 2 installments, one while buying policy in 2022 and one in may 2023. I have noticed return of this policy would be way less than even safe investment options like FD.

So I am planning to stop this LIC policy and switch to term insurance instead.

I am confused about what to do with this LIC policy ( Surrender or Convert it to Paid Up ) ? Some sources say we can convert it to paid up and surrender after 2 installments and some say after 3 installments.

What value do I get if I surrender it and if If I convert it to paid up ?

Term Life Insurance

1 Answer

24 Dec, 2023

Hello Harsh,

For precise and current details regarding the surrender value or paid-up value of your LIC Jeevan Umang Policy, you should contact your insurance company directly or visit one of their branch offices.

I hope this helps. Thank you!

icon-comment 0 Comments
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!


Rs. 1799