LIC Jeevan Lakshya surrender value

When (and when not) to surrender Jeevan Lakshya

Lakshya's surrender values follow the standard endowment GSV/SSV ladder, with one wrinkle: the future income-replacement death benefit is a contingent payout, not a vested asset, so it carries no surrender value at all. Practical effect: years 1–2 give roughly 30–40% of premiums; year 5 around 60%; breakeven around year 10–12; year 15+ surrender exceeds cumulative premiums. Vested simple reversionary bonuses are returned at the standard 25–40% discount. If your reason for surrendering is the death-benefit structure no longer fits (e.g., children are now financially independent), consider holding to maturity — you still receive 110% of BSA plus full bonuses, and the income-replacement feature simply lapses unused.

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.