Check your policy type and surrender eligibility
Review the policy document for surrender terms, lock-in period, and penalties
Visit the LIC branch office where the policy is serviced
Carry the original policy bond
Carry valid identity proof
Carry address proof
Carry PAN card
Carry bank account details and a cancelled cheque
Fill and submit the surrender or closure request form
Submit any required discharge voucher or cancellation form
Provide the reason for closing the policy if asked
Hand over all required documents to LIC
Wait for LIC verification and processing
Receive the surrender value or applicable payout in your bank account
Collect acknowledgment or receipt for the submitted request
Contact LIC customer care or your agent if additional documents are requested