This calculator allows you to determine:
1. Paid-up value
2. Guaranteed Surrender value
3. Special Surrender value
of any non-ULIP insurance policy. The numbers should be exact for LIC policies since it uses their surrender value factors. This can be used as a crude estimate for other insurers provided a lower average bonus rate is used.
The above numbers are calculated with (a) no bonus, (b) bonus rates for each year of policy (up to 20 years) if known or (c) with an average bonus rate.
It tells if your surrender value is taxable or not.
It allows you to compare paid-up and surrender options. it has some useful notes on bonus rates and some info on when to do what (along the lines of the blog post). Relevant interesting links are also included.
- Insurance Policy Surrender Value & Paid-up Value Calculator
- OMG! Just Realized My Insurance Policies are Worthless! What do I do?