Guaranteed Surrender Value in LIC Aadhaar Shila Plan - Table No. 844
If for some reason, you wish to surrender your LIC Aadhaar Shila Plan, the tables below will show the amount that will be returned back to you. You will need the Surrender Value Factors which are mentioned below to know the exact amount. You get back a part of the premium paid by you. So here is how it works.If only 2 years’ premiums have been paid - Nothing is paid back to you. For the rest, use the table below
Note - The tax component is not returned. So the % is on the premium without tax.
| Surrender Year | Policy Term | |||||
| 10 | 11 | 12 | 13 | 14 | 15 | |
| 1 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 3 | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% |
| 4 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 5 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 6 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 7 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 8 | 65.00% | 60.00% | 57.50% | 56.00% | 55.00% | 54.29% |
| 9 | 80.00% | 70.00% | 65.00% | 62.00% | 60.00% | 58.57% |
| 10 | 80.00% | 80.00% | 72.50% | 68.00% | 65.00% | 62.86% |
| 11 | 80.00% | 80.00% | 74.00% | 70.00% | 67.14% | |
| 12 | 80.00% | 80.00% | 75.00% | 71.43% | ||
| 13 | 80.00% | 80.00% | 75.71% | |||
| 14 | 80.00% | 80.00% | ||||
| 15 | 80.00% | |||||
| 16 | ||||||
| 17 | ||||||
| 18 | ||||||
| 19 | ||||||
| 20 | ||||||
| Surrender Year | Policy Term | ||||
| 16 | 17 | 18 | 19 | 20 | |
| 1 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 2 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 3 | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% |
| 4 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 5 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 6 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 7 | 50.00% | 50.00% | 50.00% | 50.00% | 50.00% |
| 8 | 53.75% | 53.33% | 53.00% | 52.73% | 52.50% |
| 9 | 57.50% | 56.67% | 56.00% | 55.45% | 55.00% |
| 10 | 61.25% | 60.00% | 59.00% | 58.18% | 57.50% |
| 11 | 65.00% | 63.33% | 62.00% | 60.91% | 60.00% |
| 12 | 68.75% | 66.67% | 65.00% | 63.64% | 62.50% |
| 13 | 72.50% | 70.00% | 68.00% | 66.36% | 65.00% |
| 14 | 76.25% | 73.33% | 71.00% | 69.09% | 67.50% |
| 15 | 80.00% | 76.67% | 74.00% | 71.82% | 70.00% |
| 16 | 80.00% | 80.00% | 77.00% | 74.55% | 72.50% |
| 17 | 80.00% | 80.00% | 77.27% | 75.00% | |
| 18 | 80.00% | 80.00% | 77.50% | ||
| 19 | 80.00% | 80.00% | |||
| 20 | 80.00% |
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Let us understand how this works with the help of an example.
Suppose Priya has taken the Aadhaar Shila plan with a cover of Rs. 1,00,000 and a policy term of 20 years. His Annual Premium was Rs. 3,611 + taxes.
He paid the premium for 7 years. Now due to a financial crunch, he decided to surrender the plan. This is the amount he will get on surrendering the plan.
Premium Paid so far = 7 x 3,641 = Rs. 25,487
Surrender Value Factor for premiums = 50% (marked in the blue in the 1st table)
Guaranteed Surrender Value of Aadhaar Shila after 7 years = Rs. 25,487 x 50% = Rs. 12,744
This is the Guaranteed Surrender Value. A Special Surrender Value maybe paid by LIC - this value can only be known at the time of actual surrender.
To know more about how this plan works - Read the LIC Aadhaar Shila Review.
In case you have any questions on this, please drop a comment and we will get back to you.