Calculators LIC plans New Money Back — 20 Years Surrender
LIC New Money Back — 20 Years surrender value
Money-back plans have a similar GSV ladder to endowments: year 2 GSV is typically 30% of premiums, rising to ~60% by year 7 and approaching or exceeding total premiums around year 12–13. Note that survival benefits already received reduce the surrender value calculation in some interpretations — check the specific Special Surrender Value table in the policy document.
When (and when not) to surrender New Money Back — 20 Years
Money-back plans have a similar GSV ladder to endowments: year 2 GSV is typically 30% of premiums, rising to ~60% by year 7 and approaching or exceeding total premiums around year 12–13. Note that survival benefits already received reduce the surrender value calculation in some interpretations — check the specific Special Surrender Value table in the policy document. If you need liquidity, the policy loan (up to 90% of surrender value) is almost always better than surrendering.
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.
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