LIC Policy Surrender : How to Surrender LIC Policy & Check Status in 2026 

LIC policy surrender means closing your policy before maturity and receiving the surrender value from LIC. After surrendering the LIC policy, all policy benefits and future bonuses stop.

Many people search for topics like LIC policy surrender process, how to surrender LIC policy online, LIC surrender status check, and LIC surrender value before applying.

In this guide, you will learn how to surrender an LIC policy, required documents, surrender rules, charges, and how to check LIC surrender status online.

What is LIC Policy Surrender?

LIC policy surrender means closing your LIC policy before maturity and receiving the surrender value from LIC. When a policyholder is unable to continue premium payments, they can choose the LIC policy cancellation or surrender option.

When an LIC policy is surrendered, the policyholder receives a lump sum amount known as the surrender value.

This amount usually includes the paid-up value and accumulated bonuses, after deducting applicable charges. Most LIC policies become eligible for surrender value only after 3 full years of premium payments.

Can I Surrender LIC Policy Online?

Currently, complete LIC policy surrender online service is not available for every policy. In most cases, policyholders must visit the nearest LIC branch office to submit documents and complete the verification process.

However, users can still:

• Download LIC surrender forms online
• Check LIC surrender status online
• Access LIC customer portal services
• Track request progress through LIC login

How to Surrender LIC Policy Online? (Step-by-Step LIC Surrender Process Before Maturity)

Step 1: Open the official LIC website in your browser.

Step 2: Go to the “Customer Services” section and select “Policy Surrender.” Download the “Surrender Discharge Voucher” (Form No. 5074) from the LIC website.

Step 3: Complete the form by entering all required details, including your policy number and reason for surrender.

Step 4: Upload the completed form along with the required documents, including the original policy bond, valid ID proof, address proof, and bank account details with a cancelled cheque.

Step 5: After document submission, LIC will review and verify your surrender request. Once the process is completed successfully, the applicable LIC surrender value will be transferred to your bank account.

How to Surrender LIC Policy Offline?

You can also surrender your LIC policy offline by visiting any nearby LIC branch office. Follow the steps below to complete the offline LIC policy surrender process:

Step 1: Visit your nearest LIC branch office and collect Form 5074, also called the Surrender Discharge Voucher.

Step 2: Once the form is filled out, attach the necessary documents and submit them to the LIC branch.

Step 3: Once the documents are submitted, LIC will begin processing your surrender application.

Step 4: After approval, LIC will transfer the surrender amount to your registered bank account within 7-10 working days.

Step 5: You can contact the LIC branch office to check your policy surrender payment status.

If you do not want to visit the LIC branch personally, you may send the discharge voucher and supporting documents to LIC’s Mumbai head office through courier.

Documents Required for LIC Policy Surrender Online

The following documents are required to surrender or cancel an LIC policy online:

• Original LIC policy bond or policy documents
• LIC Policy Surrender Form No. 5074
• Registered bank account details of the policyholder
• Valid ID proof such as PAN card, Aadhaar card, driving licence, or voter ID
• Cancelled cheque of the policyholder’s bank account

How To Check LIC Policy Surrender Status Online? 

Follow the steps below to check your LIC surrender status online:

Step 1: Visit the official LIC website.

Step 2: Register as a new user. If you already have an account, click on “Login Here.”

Step 3: Log in to the LIC portal and click on “Enrol Policies” available on the left side of the page.

Step 4: Click on “Click to Enrol New Policies” and then select “Proceed.”

Step 5: Enter the required details such as policy number, premium amount, and policyholder’s name, then click on “Enroll Your Policy.”

Step 6: Once the policy is enrolled successfully, select the “View Enrolled Policy” option.

Step 7: Select the “Click for Details” option available under the “Loan and Bonus” section in the policy list.

Here, you can check your LIC policy surrender status, loan eligibility, and surrender value details.

Note: If you have taken a loan against your LIC policy, the outstanding loan amount will be deducted from the surrender value before payment.

How to Find LIC Policy Number Online?

You can easily find your LIC policy number online through the LIC portal using your login details. Follow these simple steps:

Step 1: Open the official LIC website in your browser.

Step 2: Click the “Login” button.

Step 3: Choose the “Customer Portal” option from the menu.

Step 4: Enter your login ID and password to sign in.

Step 5: Once logged in, you can view your LIC policy number and policy information online.

LIC policy number By Registered Mobile number & DOB

You can also find your LIC policy number using your registered mobile number and date of birth.

Step 1: Visit the LIC customer login page and choose “Login with OTP.”

Step 2: Fill in your mobile number and date of birth.

Step 3: LIC will send an OTP to your registered mobile number.

Step 4: Enter the OTP for verification and login.

Step 5: Once logged in, your policy details and LIC policy number will be displayed.

Types of Surrenders in LIC Policy

When a policyholder closes an insurance policy before maturity, the amount received from the insurance company is called the surrender value.

LIC policies generally offer two types of surrender values:

1. Guaranteed Surrender Value

Guaranteed Surrender Value is the minimum amount LIC gives when you surrender your policy before maturity.

This amount is usually a percentage of the premiums paid by the policyholder. The percentage may increase as the policy gets closer to maturity.

Normally, the Guaranteed Surrender Value is 30% of the premiums paid, excluding:

• First-year premium
• Rider premium amount

Example

Rohan paid a total premium of ₹60,000 (₹15,000 × 4 years) for an LIC policy with a sum assured of ₹5 lakh.

In this case, the Guaranteed Surrender Value will be calculated on ₹45,000 after excluding the first-year premium of ₹15,000.

So, 30% of ₹45,000 = ₹13,500.

Therefore, Rohan will receive a minimum surrender value of ₹13,500.

2. Special Surrender Value

Special Surrender Value is usually higher than Guaranteed Surrender Value. LIC calculates it using the paid-up value, bonus amount, and surrender factor.

Formula:

SSV = (Paid-up Value + Bonus) × Surrender Factor

Example

Roshan paid ₹18,000 every year for a ₹5 lakh LIC policy. She stopped paying premiums after 5 years.

• Bonus earned = ₹35,000
• Paid-up Value = ₹90,000
• Surrender Factor = 40%

Calculation:

(₹90,000 + ₹35,000) × 40%

= ₹50,000

So, Roshan will receive ₹50,000 as Special Surrender Value.

How to Calculate LIC Surrender Value? 

You can surrender your LIC policy only after paying premiums for at least 3 years continuously. If you stop the policy within the first 2 years, you usually will not get any surrender value.

Formula to calculate LIC surrender value:

Surrender Value = (Paid-up Value + Bonus) × Surrender Factor

Paid-up Value = (Premiums Paid ÷ Total Premiums) × Sum Assured

Example:

Policy Sum Assured = ₹4,00,000

Premiums Paid = 5 years out of 10 years

Paid-up Value = (5 ÷ 10) × ₹4,00,000 = ₹2,00,000

Bonus = ₹20,000

Surrender Factor = 30%

Surrender Value = (₹2,20,000 × 30%) = ₹66,000

So, the surrender value will be ₹66,000.

What Happens After You Surrender Your LIC Policy?

After surrendering your LIC policy, the following things will happen:

• Your insurance coverage will end immediately.
• You will receive the applicable surrender value.
• The policy will become inactive and cannot usually be restarted later.
• All policy benefits and future bonuses will stop.
• You will no longer receive tax benefits under Section 80C for that policy.

LIC Policy Surrender Processing Time

The average LIC surrender processing time is usually:

• 3 to 10 working days

Processing may take longer if:

• Documents are incomplete
• Bank details mismatch
• Signature verification fails

Is LIC surrender Taxable?

In some cases, surrendered LIC amounts may be taxable depending on:

• Premium amount
• Policy duration
• Section 10(10D) conditions

Consult a tax advisor for accurate tax calculation.

Things to Consider Before Surrendering Your LIC Policy

Surrendering your LIC policy is an important financial decision. Before making the final choice, consider the following points:

Life Insurance Protection Will Stop: After LIC policy surrender, your life cover will end. If something happens to the policyholder, the family will not receive the insured amount.

Early Surrender Can Reduce Returns: When you close an LIC policy before maturity, you may receive less money because the policy is meant for long-term savings and benefits.

Check Other Options Before Surrendering: Instead of closing the policy completely, you can consider options such as policy loan facilities or reducing the sum assured.

LIC Customer Care / Surrender Helpdesk Number

For LIC policy surrender help and status queries, you can contact LIC India Official Support

Call:  +91-22-68276827 (24×7 support)

WhatsApp Support: 8976862090

Email Support: co_complaints@licindia.com

Conclusion

You can now surrender your LIC policy online if you cannot continue paying premiums or do not want to continue the policy. LIC policyholders can also check the surrender status online on the official LIC website.

Most LIC policies become eligible for surrender after completing the required premium payment period. But if you surrender the policy early, you may receive less money because LIC deducts certain charges.

Many financial experts recommend converting the policy into a paid-up policy instead of surrendering it. A paid-up policy keeps your insurance active with reduced benefits, even if premium payments stop. It can still provide future maturity or death benefits.

FAQs

1. Can I surrender my LIC policy before maturity?

Yes, you can surrender your LIC policy before maturity if the policy has completed the minimum required premium payment period, usually 3 years.

2. Is LIC policy surrender available online?

LIC provides partial online services such as downloading surrender forms and checking surrender status online. However, in most cases, you still need to visit the nearest LIC branch office for final submission and verification.

3. What documents are required for LIC policy surrender?

You generally need:

• Original policy bond
• Form 5074 (Surrender Discharge Voucher)
• PAN/Aadhaar card
• Bank account details
• Cancelled cheque

4. How long does LIC take to process a surrender request?

LIC policy surrender processing usually takes around 3 to 10 working days after successful document verification.

5. How can I check my LIC surrender status online?

You can check your LIC surrender status by logging into the LIC customer portal, enrolling your policy, and selecting the “View Enrolled Policy” option.

6. Will I get the full amount after surrendering my LIC policy?

LIC cuts some charges when you surrender the policy early. The final amount depends on your policy value, bonus, and how long you paid premiums.

7. What is the minimum period required to surrender an LIC policy?

Most LIC policies become eligible for surrender only after paying premiums continuously for at least 3 years.

8. What happens after surrendering an LIC policy?

After surrendering:

• Insurance coverage ends
• Future bonuses stop
• Tax benefits may end
• Policy becomes inactive permanently

9. Is LIC surrender value taxable?

LIC surrender amount can be taxable based on your policy type and premium details. It is better to consult a tax advisor.

10. Which is better: LIC policy surrender or paid-up policy?

Choosing a paid-up policy may be better than surrendering because you can still receive maturity or death benefits.

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