August 31, 2012 1:39 pm
I am planning to surrender my LIC policies. Can anyone who has the experience tell me,
– any documents required in addition to Policy doc?
– How long they take to pay us the surrender value
– what is mode of payment? cheque?
Dear Karthik, normally in 30-40 days the cheque of surrender amount ‘ll be with you. In case you want the amount though ECS, you can update your bank details to LIC.
Thanks Ashal. I checked with the branch. It seems they make only NEFT payment through ECS. We need to provide our bank account details through this form http://www.licindia.in/pages/neft_format.pdf
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