LIC Bima Lakshmi surrender value

When (and when not) to surrender Bima Lakshmi

Plan 881 falls under the post-October-2024 IRDAI surrender framework. GSV is available from year one, and SSV is benchmarked against the prevailing G-Sec yield + 50 bps. A specific wrinkle for money-back-style plans: any survival benefits already paid out are not clawed back on surrender, but the GSV/SSV is computed on the residual SA and accrued bonuses, which means the headline surrender percentage looks smaller than for a pure endowment of equivalent premium. Practical year-by-year is plan-tariff-specific and we will publish it once the official illustration tables are processed. Loan against policy is available from year 2 onwards on the residual SA. The combination of survival benefits (which give cashflow without surrender) and post-2024 SSV (which softens early-exit penalties) makes the plan structurally more forgiving than older money-back plans.

Generic mechanics

Surrender mechanics for Jeevan Labh follow LIC's standard endowment formulas — the Surrender Value guide walks through the GSV factor table and SSV calculation with worked examples. You can also convert the policy to paid-up instead of surrendering, which keeps the cover (at a reduced sum assured) without further premiums.

Run your own number

Plug your premium, year of surrender and vested bonus into the surrender calculator to get an estimate for your specific policy year.