ICICI Prudential Life Surrender Value
  • Insurance Policy Surrender Value
  • Documents Required to Surrender Policy
  • Procedure of Policy Surrender
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*



How to Surrender ICICI Prudential Life Insurance Policy?

Are you thinking of surrendering your ICICI Prudential Life Insurance policy? Well, it is not appreciated to surrender a life insurance policy but if the circumstances do not allow you to continue the policy anymore. Then you should definitely read all the terms and conditions of surrendering a policy, as it has its own sets of limitations including tax deduction, financial protection, etc.

In this article, we'll read about how you can surrender your life insurance policy, and what is the value of surrendering the policy.

ICICI Prudential Life Insurance Surrender Value

The cancellation or termination of a life insurance policy without completing the policy tenure or maturity period is what we call surrendering a policy. If a policyholder decides to cancel his/her ICICI PruLife insurance policy, he will not be able to avail of any maturity benefits or policy coverage.

Most insurance companies have a three-year completion period to surrender a policy, from where the policyholder is entitled to avail of 30% amount of all the premiums he has paid to date. And this surrender value keeps increasing with the passing years.

How Do I Surrender My ICICI Prudential Life Insurance Policy Online?

When it comes to paying your policy premiums on time, you should not fail to pay it. However, there might be instances that don't allow you to continue your policy which is quite understandable. In this scenario, the following steps to surrender your ICICI Prudential Life Insurance policy will help you:-

Step 1 First you need to reach out to the customer care executives of ICICI PruLife insurance company and provide all the necessary details related to your policy.

Step 2 The agents will guide the insured to fill out the cancellation form in written format either via mail or a physical letter.

Step 3 Follow the instructions effectively fill out the surrender form carefully and upload the asked documents. A list of all the required documents is given below:-

Documents Required to Surrender an ICICI Prudential Life Insurance

Surrender Policy:-

  • Original copy of the policy documents
  • A cancelled cheque with the name of the policyholder on it
  • Or, if the policyholder does not have a pre-printed name, or account number on the cheque or has a new account mentioned on it. Then he/she may require a copy of his bank passbook or the bank's statements with his/her name, and account number on it
  • Identity proofs including Aadhar card, PAN card, Voters ID, Driver's License, Passport, etc
  • Latest contact details of the policyholder
  • Policy surrender/Cancellation form
  • NRE bank statement reflecting a premium paid from that NRE account

Partial Withdrawal:-

  • Original copy of the policy documents
  • Canceled cheque with the policyholder's name on it
  • If the canceled cheque reflects some other account number or does not have a pre-printed name of the insured on it, then a bank statement or a bank passbook is required
  • Copy of CI/YPD to be submitted for the withdrawal request (only original documents shall be carried with)
  • Identity Proof like Aadhaar card, PAN card, Passport, Driver's License, and Voter's ID card
  • Latest contact details of the policyholder
  • Payout form
  • NRE bank statement that reflects a premium paid from the same NRE account.

Step 4 It will take them a couple of days to process the payout of your policy surrender.

How to Contact ICICI Prudential Life Insurance?

If the policyholder wants to discontinue and surrender their policy, they need to reach out to the customer care executives of ICICI PruLife Insurance. Below are the contact details where you can take charge of surrendering your policy:-

Contact Mode

Contact Details

Customer Care Number1800 333 0333
Check policy surrender value1860 266 7766
SMS"EREG" to 56767
Mailing AddressICICI Prulife Towers, 1089 Appasaheb Marathe Marg, Prabhadevi, Mumbai 400025

ICICI Prudential Life Insurance Surrender Value: FAQ's

1. How can I check my ICICI PruLife policy surrender value?

You can connect with the customer care executive at 18602667766 or you can also visit the nearest branch office.

2. How long does it take to get my surrender policy payout?

ICICI PruLife Insurance Company is dedicated to making all the surrender procedures within a few hours or a couple of days. As soon as you submit and get all your document details matched, they complete the payout process within 2 working days.

3. Is it good to surrender my ICICI PruLife insurance policy?

Surrendering your policy is totally discouraged if you don't have an emergency to do so. As far as the insurance companies are concerned, a policy provides you protection against various financial burdens. But if you still surrender a policy, it has its own set of deductions and a resistive compounding of your money.

Life Insurance Companies

Compare and buy the most suitable Life Insurance Plan from the below-mentioned IRDAI-approved Life Insurance companies.

Life Insurance Articles

Life Insurance FAQs

Life Insurance FAQsSeptember, 2021

What Our Customers Have to Say

Customer Review Image

Preety Kamat


April 8, 2024

Got ICICI Pru iProtect Smart term insurance plan via PolicyX; so far, I& 039;ve hassle-free renewal service and have not faced any kind of nuisance.

Customer Review Image

Anil kumar


March 18, 2024

I had to purchase term life insurance for my mother, So I decided to consult with the insurance advisor of Policyx.com, after analysing all details carefully. Mr Nikhil suggests me to go with I...

Customer Review Image

Vaibhav gupta


February 16, 2024

Recently I turned 18 years old, and the first thing that comes to mind is to opt for a term plan. So I visited policyx.com for a better understanding, and an advisor named Vishal properly under...

Customer Review Image

Suraj Jha


January 25, 2024

Getting term insurance from PolicyX.com was easy. The online application was simple, and I could easily compare different plans. The website gave clear information, and I got my policy without ...

Customer Review Image

Pradeep Verma


October 5, 2023

I recently purchased Kotak Life Term Insurance Plans through Policyx.com, and I must say the process was incredibly smooth. Highly recommended!

Customer Review Image

Tanushree Sengupta


October 5, 2023

I highly recommend PolicyX.com for anyone looking to purchase an ICICI Prudential term insurance plan. They made the process simple and efficient.

Customer Review Image

Aniket Verma


October 5, 2023

PolicyX.com s guidance and support were instrumental in helping me choose the right ICICI Prudential term insurance plan.

Customer Review Image

Naina Kapoor


October 5, 2023

I m grateful to PolicyX.com for helping me secure my family s financial future with an ICICI Prudential term insurance plan.

Simran Nirala

Written By: Simran Nirala

Simran has an experience of 3 years in insurance content writing. She transitioned from hospitality to the insurance industry after her emerging interest in how vast insurance is. With her ability to write complex insurance concepts in a simple, relatable manner she keeps her audience hooked and solves their doubts smoothly.