LIC Surrender Form
This is an Application Form 5704/3510 for the LIC policyholder who wants to surrender his/her life insurance policy or make a partial withdrawal from the policy fund and this form can be downloaded from the link given below free of cost.
When you opt out of a policy before its maturity, then it is called surrendering of the policy and the amount that you receive at the time, is LIC policy surrender value. Normally, with a regular policy, the LIC policy surrender value can be calculated only after the policyholder has paid the premiums continuously for 3 years. However, surrender of policy is not recommended since the LIC surrender value will always be subsequently low. Also in the case of surrender before 3 years, no surrender value is offered.
Documents Required for LIC Surrender Form
Surrender Policy
- Original policy documents
- Canceled cheque with the policyholder’s name on it
- In case the canceled cheque does not have a pre-printed name, account number, or a new account is mentioned on the cheque, then the passbook copy/bank statement having the pre-printed name and the account number is required
- ID proof (PAN Card, Aadhaar Card, Passport, Driving License, Voters ID)
- Policy surrender or cancellation form
- Latest contact details
- NRE bank statement reflecting any premiums paid from the NRE account
Partial Withdrawal
- Original policy documents
- Copy of CI or YPD submitted for the withdrawal request (carry original documents for verification in the branch)
- Canceled cheque of the insured’s name
- In case the canceled cheque does not have a pre-printed name and account number or a new account is mentioned on the cheque, then passbook copy/bank statement having the pre-printed name and the account number is required
- ID proof (PAN Card, Aadhaar Card, Passport, Driving License, Voters ID)
- Pay-out form
- Latest contact details
- NRE bank statement reflecting any premiums paid from the NRE account
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Contact Details
The following options can be used to connect with LIC of India:
Call: 022 6827 6827 / 18004259876 for Health Insurance policies
SMS: LICHELP <pol.no.> to 9222492224 or SMS LICHELP <pol.no.> to 56767877
Mailing Address:
Corporate Office,
Yogakshema Building,
Jeevan Bima Marg,
P.O. Box No – 19953,
Mumbai – 400 021
You can download the LIC Surrender Form No 3510/5074 in PDF format online from the link given below.
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