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Surrendering LIC Jeevan Umang

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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 ?

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Term Life Insurance
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1 Answer

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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!



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