LIC policy surrender

POSTED BY Karthik ON August 31, 2012 1:39 pm COMMENTS (2)

Hi,

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?

2 replies on this article “LIC policy surrender”

  1. 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

    1. Karthik says:

      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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