Can we withdraw money from LIC after 5 years?

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Can we withdraw money from LIC after 5 years?

If 5 years have passed after you purchased your LIC policy, you are eligible for policy withdrawal. However, keep in mind that currently, the facility of surrendering LIC policy is not available online. So, it would be best if you surrendered the LIC policy through the service branch of LIC.

What is the surrender value of LIC Jeevan Anand policy?

The policy can be surrendered anytime provided two full years’ premiums have been paid. On surrendering after two policy years, the insurance company will pay a guaranteed surrender value of minimum 30\% of all premiums paid after deducting the first year’s premium.

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How can I surrender my LIC policy after 5 years?

What are the Important Documents Required for Surrendering LIC Policy?

  1. The policy bond (original document)
  2. Physical copy of LIC Policy Surrender Form No.
  3. Bank account information of the policyholder will be required.

How is maturity amount calculated in LIC Jeevan Anand?

Maturity benefit would be equal to the Sum Assured + Bonus Amounts which have been received throughout the policy term + any Final Addition Bonus if declared. Now whenever the death of the policyholder happens (even after the policy term), the nominee will additionally get the Sum Assured amount as the Death Benefit.

Can we withdraw LIC policy online?

First keep in mind that as of now Surrendering LIC policy is not possible ONLINE. Also, you have to surrender the LIC policy at your servicing LIC branch ONLY. Also, keep in mind that you have to personally visit the branch and request for surrender of LIC policy.

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What is LIC withdrawn plan?

But over IRDA diktat and to comply with other regulatory amendments from time to time, LIC has withdrawn some its product offerings….Features of LIC Jeevan Nidhi:

Minimum entry age 18 years
Policy term For regular premium, the policy term is 5 years For single premium, the policy term is 6 years

How can I close my LIC Jeevan Anand policy?

When can I Surrender my LIC Jeevan Anand policy?

The policy can be surrendered anytime provided two full years’ premiums have been paid. Surrender of policy is not recommended since the surrender value would always be proportionately low. I opted for LIC ’s Jeevan Anand policy in December 2014. Its maturity period is 21 years with sum assured of Rs 9,90,000.

Is LIC Jeevan Anand a whole life plan?

About LIC Jeevan Anand LIC Jeevan Anand is an endowment plan offering bonuses on maturity A whole-life plan wherein the risk of death is covered till the insured is aged 99 Flexible term of the policy allows planning for specific life-goals An additional benefit is provided on accidental death of the insured, till the age of 70 years.

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When will the maturity amount of Jeevan Anand policy be paid back?

Hai, In Jeevan Anand policy The maturity amount (sum assured+Total Bonus) will be paid back after the premium paying term (25 years in my case and in 2026, suppose I will have received the maturity amount on the same year.

What is the age limit for LIC New jeevananand policy?

LIC New JeevanAnand – Product Specification Product Name LIC New JeevanAnand Entry Age 18/50 Years Maturity Age Up to 75 Years Policy Term 15/35 Years Premium Payment Term Same as Policy Term