LIC Jeevan Umang surrender value

When (and when not) to surrender Jeevan Umang

GSV kicks in after 2 full years of premium payment. SSV typically exceeds GSV from year 5 onwards. Early surrender (before year 10) is usually a significant capital loss. The survival benefit payments already received are yours and are not clawed back on surrender. If you're in the income phase (post-PPT) and considering surrender, note that future guaranteed income is the main value — surrendering effectively converts a perpetuity into a one-time lump sum that is almost certainly worth less in present-value terms.

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.