Surrender Value

Tax Glossary Definition

Surrender Value

Amount Payable on Early Termination of Policy: The surrender value is the sum an insurance company pays to the policyholder if the policy is discontinued before its maturity date. It reflects the accumulated value of premiums paid, after deducting applicable charges and fees.

Example: If a policyholder surrenders a ULIP after five years, they might receive ₹3,00,000 as the surrender value.

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