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POSTED BY ON February 2, 2013 4:52 pm ONE COMMENT
Dear All,
I have made a surrender value and paid-up value calculator for non-ULIP insurance with LIC surrender value factors. I need help in testing it.
It would be great if people who have recently surrendered or paid-up their policies test it and let me know their feedback. If you have access to surrender value factors from other insurers please send it to me. If I have missed out any scenario involving surrender or paid-up as mentioned in the calculator please let me know.
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A good initiative Pattu. In my article Discontinue Life Insurance Policy: Surrender,Paid Up,Loan I have collected the resources to find the value.
Excerpt from it:
How to check the ‘Surrender Value’ and ‘Loan Eligibility’ , Paid Up Value of your policy?
Contact your insurer/agent to find the Surrender Value, Loan Eligibility of your value.
Visit LIC and register as a new user or Click on Lic New User Registration (it’s free. Help on LIC’s Registration can be found on LIC webpage Registration)
Login to your account and click “Enrol Policies” in the left menu.
Click “Click to Enrol New policies” and click “Proceed”.
Enter your policy number, premium and name of the insured and “Enrol your policy”.
Once enrolled, click “View Enrolled policies”.
From your policies list click “Click for details” under “Loan and Bonus” column.
The surrender value and loan eligibility can be found there.
Note:
I followed the steps, created the account and enrolled my policies but I was not able to get the Surrender Value/Loan Detail.
InsureMagic gave me the details but I had to create a Free account on it.