Hi there! How can we help you today?
LIC Surrender Value Form 5704 – Complete Guide (Before You Surrender Your Policy)
By Raj Kumar- LIC Forms
- 29/12/2025
- 5 minutes read
- 139 Views
Planning to surrender your LIC policy? Understand Form 5704, eligibility, documents required, common mistakes, and safer alternatives before taking a final decision.
Last Updated: December 2025
Important Warning:
LIC policy surrender karna ek final financial decision hota hai. Galat step lene se future protection aur returns dono ka nuksaan ho sakta hai. Is page ka purpose hai – Form 5704 bharne se pehle clear understanding dena.
Table of contents [Show]
- What is LIC Surrender Value Form 5704?
- When Should You Use Form 5704?
- Eligibility Check (Quick)
- Policy Types Where Surrender Is Common
- Surrender vs Loan (Must Read)
- Documents Required for LIC Surrender Value Form 5704
- Common Mistakes to Avoid While Submitting Form 5704
- How LIC Surrender Value Is Calculated
- Important Warning Before You Surrender
- Better Alternatives to Surrender (Most People Ignore This)
- Next Step
What is LIC Surrender Value Form 5704?
LIC Surrender Value Form 5704 tab use hota hai jab koi policyholder apni LIC policy ko surrender (band) karke uski surrender value withdraw karna chahta hai aur jo amout banta hai, usko claim withdraw kartha hai.
Simple language me bolein to —
policy chalti hui nahi chahiye, aap exit lena chahte ho.
Ye form Life Insurance Corporation of India ke servicing process ka part hai, lekin decision purely aapka hota hai.
Aur yahin par log sabse badi galti kar dete hain.
Surrender value ka amount policy ke type, term aur paid premiums par depend karta hai. Har LIC policy surrender ke liye eligible nahi hoti.
When Should You Use Form 5704?
Har policy surrender nahi hoti.
Form 5704 tabhi kaam karega jab:
- Jab policy minimum qualifying (lock-in) period complete kar chuki ho
- Jab saare due premiums paid ho chuke hon
- Policy surrender - eligible ho
- Jab policy loan option pehle consider kar liya gaya ho
- Policy in-force ya surrender - allowed status me ho
Agar ye conditions match nahi karti, to LIC form lene ke baad bhi request reject ho sakti hai.
Note: Kai cases me policy surrender karne se pehle loan lena zyada beneficial hota hai.
Eligibility Check (Quick)
- Policy minimum required years complete ho
- Policy kisi dispute ya claim ke under na ho
- Original policy bond available ho (ya duplicate process completed ho)
Policy Types Where Surrender Is Common
Generally surrender requests in policies me aati hain:
- Endowment plans
- Money Back plans
- Whole Life policies
- ULIP policies (lock-in ke baad)
👉 Term Insurance policies ka surrender value nahi hota.
Yeh baat pehle clear honi chahiye.
Surrender vs Loan (Must Read)
Surrender:
Policy permanently band ho jaati hai, life cover khatam ho jaata hai, aur future benefits zero ho jaate hain.
Loan on Policy:
Policy active rehti hai, partial amount milta hai, aur future benefits continue rehte hain.
Conclusion:
Bahut se cases me Loan > Surrender hota hai, lekin final decision policy analysis ke baad hi lena chahiye.
Documents Required for LIC Surrender Value Form 5704
Form bharna easy hota hai, lekin documents galat hue to delay pakka hai.
Aapko usually ye documents chahiye:
- Original policy bond
- Filled & signed Form 5704
- Cancelled cheque (policyholder ke naam ka)
- Photo ID (Aadhaar / PAN)
- Address proof
- Bank mandate (branch ke hisaab se)
Ek chhoti si mismatch bhi processing ko 2–3 hafton tak latka sakti hai.
Common Mistakes to Avoid While Submitting Form 5704
Ye galtiyan hum daily dekhte hain:
- Eligibility check kiye bina policy surrender kar dena
- Bank details galat bharna
- Galat ya inactive bank details dena
- Signature mismatch
- Original policy bond miss kar dena
- Loan option consider na karna
- Incomplete form ya overwriting karna
- Tax impact samjhe bina surrender
- Sirf agent ke kehne par decision lena
Ye mistakes Delay + Regret dono laati hain.
Step-by-Step LIC Policy Surrender Process
👉 Instruction Steps:
Check karein policy surrender-eligible hai ya nahi
LIC Surrender Value Form 5704 fill karein carefully
Saare documents attach karein
Servicing LIC branch visit karein
Acknowledgement receipt lein
Amount NEFT ke through bank me credit hota hai
How LIC Surrender Value Is Calculated
Yeh sabse important part hai.
Bahut log sochte hain:
“Maine itna premium bhara hai, mujhe pura paisa milega.”
Reality thodi alag hoti hai.
LIC surrender value depend karta hai:
- Policy type
- Total premiums paid
- Policy duration completed
- Guaranteed vs Special Surrender Value
Kaafi cases me surrender amount total premium se kaafi kam hota hai.
Important Warning Before You Surrender
👉 “Policy surrender ek final exit hota hai.
Ek baar policy band hui, usko revive nahi kiya ja sakta.”
Isi wajah se surrender form bharne se pehle rukna zaroori hai.
Better Alternatives to Surrender (Most People Ignore This)
Sach bolun?
Zyada tar log surrender confusion ya cash pressure me kar dete hain.
Jabki options aur bhi hote hain:
- Policy loan lena
- Policy ko paid-up banana
- Revival option check karna
- Premium mode change karna
Bahut baar loan option surrender se better financial choice hota hai.
Form 5704 PDF Download:
Download option details verify karne ke baad unlock hota hai taaki correct guidance di ja sake.
Need help before surrendering?
📲 WhatsApp (Fastest)
📧 Email Support
📧 Email for Expert Review
Author
Raj Kumar
Raj Kumar – Development Officer, LIC of India
With years of experience in the insurance industry, Raj Kumar is a dedicated Development Officer at LIC of India. Specializing in agent recruitment, training, and policy procurement, Raj is passionate about helping individuals in Delhi NCR and surrounding areas build successful careers as LIC agents. His focus is on providing expert guidance to aspiring agents, helping them achieve their goals while offering a fulfilling and rewarding career in the life insurance sector.Raj’s expertise extends beyond recruitment. He’s also deeply involved in the support and growth of his agents, ensuring they receive continuous training and motivation. His personalized approach and commitment to the success of each agent have earned him a reputation as a trusted mentor in the LIC community.