LIC Jeevan Utsav surrender value

When (and when not) to surrender Jeevan Utsav

Surrender is available after 2 full years' premiums are paid (1 year for single-premium plans). The GSV formula is standard LIC non-par: GSV factor × total premiums paid. SSV is typically higher from year 5 onwards. For short PPT plans (5–9 years), the surrender value after all premiums are paid but before income starts can be reasonable — but you sacrifice all future income stream by surrendering.

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.