LIC Policy Surrender Form: Download, Fill & Submit – Complete Guide 2025
Surrendering your LIC policy? The first step is filling out the LIC Policy Surrender Form correctly. In this guide, we’ll show you how to download the LIC surrender form, fill it step-by-step, and submit it at your nearest branch. If you’re in Gurgaon, this page is tailor-made for you!
📥 Step 1: Download the LIC Policy Surrender Form (Form 5074)
The surrender process officially begins when you fill and submit Form No. 5074, also known as the LIC Discharge Form.
🔗 Click here to download LIC Policy Surrender Form PDF
Note: Always use the official form from LIC’s website to avoid errors.
✍️ Step 2: How to Fill LIC Policy Surrender Form Correctly
Here’s how to fill each section of the form accurately:
| Field in Form | What to Write |
|---|---|
| Policy Number | Your LIC policy number |
| Name of Policyholder | As per LIC records |
| Reason for Surrender | E.g., Financial need, not satisfied with returns, etc. |
| Bank Details | Account number, IFSC, bank name for refund |
| Signature | Match the signature used during policy purchase |
📌 Tip: Always write in BLOCK letters and double-check your bank details to avoid delays.
🧾 Step 3: Documents Required to Surrender LIC Policy
Along with the filled surrender form, you need to attach:
- Original LIC policy bond (mandatory)
- Self-attested PAN card copy
- Self-attested Aadhaar card or other address proof
- Cancelled cheque with your name printed
- LIC Form 3510 (for policies above ₹1 lakh SA in some cases)
- NEFT mandate form (available at the branch)
📍 If any document is missing, the surrender process may be delayed.
🏦 Step 4: Submit the Form at Your Nearest LIC Branch
Take all documents to your LIC servicing branch. If you live in Gurgaon, here are a few popular branches:
- LIC Branch 11C, Sector 14
- LIC Branch 11X, HUDA City Centre
- LIC Branch 11Y, Sector 56, Golf Course Road
🔔 Don’t forget to carry a valid ID and your LIC premium receipts (optional but useful).
📆 Processing Time & Refund
- Your surrender value will be credited within 7–10 working days after submission and verification.
- You’ll receive an SMS confirmation from LIC once the refund is processed.
Surrender Value Calculator (2025)
❗Important Things to Remember Before Surrendering
- You must have paid premiums for at least 3 years for most policies to get surrender value.
- Surrender value is usually less than the premiums paid.
- Surrendering early can impact your life insurance coverage and savings.
👉 Consider other options like making the policy paid-up or taking a loan against it before surrendering.
🙋 Need Help With LIC Policy Surrender in Gurgaon?
We assist individuals across Gurgaon with LIC surrender paperwork, form filling, and document collection.
📞 Call us now or 📩 Contact us here to make your LIC surrender process stress-free.
🔎 FAQs
Q. Can I surrender my LIC policy online?
A. As of now, LIC requires a physical visit for policy surrender. Online submission is not available.
Q. Can I surrender a policy after just 1 year?
A. No. You must complete at least 3 policy years to be eligible for surrender value.
Q. What happens if I lose my original policy bond?
A. You’ll need to apply for a duplicate bond by submitting Form 3756 with an indemnity bond and stamp paper.
✅ Final Words
Filling out and submitting your LIC surrender form correctly ensures you get your surrender value smoothly. If you’re unsure, consult a local LIC agent or get professional help to avoid mistakes.
