How to Calculate Loan Amount from LIC Policy?

Calculating the loan amount against your LIC policy can be done in a few simple steps:

• Identify the surrender value – The surrender value of your policy is the figure you will use to calculate the loan amount.
• Calculate the loan percentage – Depending on the type of policy, the loan percentages can range from 40%-70%.
• Multiply the surrender value with the loan percentage – Multiply the surrender value from the first step by the loan percentage from the second step.
• Subtract the processing fee – Subtract the processing fee from the result of the third step.

What is the Percentage of Loan Against LIC Policy?

The percentage of loan against a Life Insurance Corporation (LIC) policy can vary from policy to policy. Generally, an LIC policy can have a loan percentage of between 40%-70%.

Does LIC Give Loan Against Policy?

Yes, LIC does provide loans against policies. Policyholders can take out a loan against their LIC policy for an amount between 40%-70% of the policy’s surrender value.

How Long Does it Take to Get Loan on LIC Policy?

The time taken to get a loan against an LIC policy depends on the type of policy and the policyholder’s individual circumstances. Generally, it takes 2-3 weeks to get a loan against an LIC policy.