What is the surrender value of LIC Market Plus?

What is the surrender value of LIC Market Plus?

Investment Fund Type in LIC Market Plus After the completion of the 3rd policy year, the insured person can surrender the policy. The surrender value given to the policyholder is the fund value on the date of giving up.

Is Surrender value of LIC Market Plus policy taxable?

Premiums paid towards LIC market plus plan are eligible for tax deduction under Section 80C of the Income Tax Act. Commuted benefits paid out as a lump sum are tax-exempt under Section 10 (10D) of the Income Tax Act.

What is LIC Money Plus?

As mentioned earlier, LIC’s Money Plus Plan is a unit-linked insurance plan which offers non-guaranteed market-linked returns. The premiums paid, net of allocation charge, are invested in selected funds. These funds, in turn, invest in capital market securities.

Which is the best LIC policy for 10 years?

Best LIC Plans for 2021

LIC Policies Plan Type Policy Term
LIC Tech Term Plan Term Assurance Plan 10-40 years
LIC Jeevan Umang Whole Life Insurance 100 years minus(-) the age at entry
LIC Jeevan Amar Term Assurance Plan 10 years-40 years
LIC Money Back 25 years Money Back Policy 25 years

How to calculate the surrender value of LIC?

How to Calculate the Surrender Value of LIC. Step 1. View the schedule page of your LIC policy. The schedule page is the first page of the policy. Video of the Day. Step 2. Step 3. Step 4.

How do we can surrender a LIC policy?

The policyholder should visit the nearest branch of LIC and avail a surrender discharge voucher.

  • The form should be filled and submitted with the relevant documents.
  • the company would process the surrender of the policy.
  • What is special surrender value in LIC?

    Special Surrender Value: If you have paid premiums towards your LIC policy for more than three years, but less than four years, then you will receive 80% of the maturity sum assured as a special surrender value.

    Where can you Surrender Your LIC policy?

    Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. Servicing branch may be the branch where you purchased the policy. Otherwise, if you changed the branch, then that particular LIC branch represent the servicing branch for you.

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