That would depend on the Sum Assured and the Bonus which has been received. You will have to contact the local LIC branch or buy through an LIC agent.Premiums are payable yearly, half-yearly, quarterly or through Salary deductions, as opted by you, throughout the premium paying term or till earlier death.30 days for premium payment
15-days Cooling-off period: If not satisfied, return of policy permissible within 15 days.The policyholder can revive his lapsed policy within a period of 5 years from the date of first unpaid premium by paying arrears of premium together with interest to be decided by corporation from time to time subject to satisfactory evidence of health. The present rate of interest is 9% p.a. Payable half yearly.The policy will acquire paid-up value after at least one full year’s premium has been paid wherever the premium paying term is 10 years or less. For premium paying terms of more than 10 years the policy will acquire paid-up value after 2 full years premiums have been paid Guaranteed Surrender Value ( GSV) :
This policy can be surrendered for cash after completion of three policy years. The Guaranteed Surrender Value in case of single premium policy will be 90% of the premium paid excluding all extra premiums, premium for the term assurance option and accident benefit premium, if any. The Guaranteed Surrender Value allowable under the policy ( other than single premium) will be equal to 30% of the total amount of premiums paid excluding the premiums for the first year and the extra premiums for the Term Assurance Option and Accident Benefit, if any.
