If chosen for monthly premium payments, the LIC Jeevan Amar policy has no surrender value. However, if a single premium is paid, the applicable refund amount will be paid during the policy tenure.
When paying a limited premium, a refund will only be handled if the following conditions are met:
- The entire premium has been paid for two years in a row for a premium term of less than 10 years.
- For a premium term of more than ten years, the full premium has been paid for three straight years.