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What will I get if I break the LIC insurance in between?

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Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on August 02,2022

If you break in between the term then you shall receive surrender value . This surrender value is initially around 35 % of premium paid but keeps increasing with passage of time . For example , if premium is Rs 1 lakh per year and you terminate after 5 years then you will receive approx Rs 2 lakh though you paid Rs 5 lakh . But if you terminate after 15 year then you will receive approx Rs 12 lakh though you has paid Rs 15 lakh .

your surrender value is 100% on maturity .

Hope this clarifies 

 

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