1. What is Jeevan Tarang Surrender Value?

The Guaranteed Surrender Value (GSV) for LIC's Jeevan Tarang policy is typically 30% of the total premiums paid minus the first year premium. This is the minimum amount you'll receive if you surrender your policy.

2. How Does the Calculator Work?

The calculator uses the Jeevan Tarang surrender value formula:

Where:

• \( Total\ Premiums \) — Sum of all premiums paid (₹)
• \( First\ Year\ Premium \) — Premium paid in the first year (₹)

Explanation: The surrender value is calculated as 30% of the premiums paid after deducting the first year's premium.

3. Importance of Surrender Value Calculation

Details: Knowing the surrender value helps policyholders make informed decisions about continuing or terminating their policy, especially during financial difficulties.

4. Using the Calculator

Tips: Enter total premiums paid and first year premium in rupees. Both values must be positive numbers, and total premiums must be greater than first year premium.

5. Frequently Asked Questions (FAQ)

Q1: When can I surrender my Jeevan Tarang policy?
A: You can surrender after at least 3 full years' premiums have been paid.

Q2: Is this the exact amount I'll receive?
A: This calculates the guaranteed minimum. The actual amount may be higher if bonuses are applicable.

Q3: What happens to survival benefits if I surrender?
A: All future survival benefits cease upon surrender.

Q4: Are there tax implications of surrendering?
A: Yes, surrender value may be taxable depending on premium amounts and policy duration. Consult a tax advisor.

Q5: Can I get a loan against this policy instead?
A: Yes, loan options may be available which could be better than surrendering the policy.