HDFC Life Uday policy surrender charges and return. Help Please

I took hdfc life uday policy in 2015. It has 8 annually premiums and policy term of 12 years.

I have paid 2 premiums till now and the 3rd premiums date is 23rd Dec 2017. I want to surrender my policy. I want to know how much penalties I have to pay.

Since my policy is in guaranteed surrender value criteria. I should get some of my premiums money back. But I don't know how to calculate it. Can anyone please help me.

Date of commencement - 23rd Dec 2015
Sum Assured on Maturity - 89269 inr
Annualised Premium - 14750 inr
Policy Terms - 12 years
Premium Paying Terms - 8 years
Frequency Of premium Payment - Annual

I read some docs according to them Guaranteed Surrender Value for 2 years is 30% of percentage of total premiums paid + percentage of accured bonues & accured guranted aditions.

Does it mean i am going to get only 30000/100*30 = 9000rs only

This is huge loss.

Please clearyfy. Also how to calculate these bonues and aditions percentage.

Better to ask your agent thru whom you have bought the policy.

however I have to mention that life insurance is a bad option for investing money. Better to invest in a mutual fund or index fund

Thats how these policies (including LIC) work... welcome to reality!

You do get something called bonus. But overall you get much less amount then you would expect.

I think LIC is good for life insurance. the claims settled is very high in LIC (around 95% last time I heard) plus claiming is very easy process.

as I said earlier, life insurance for investment purposes is bad idea however middle class (like my dad) seem to think investment=LIC . Im slowly getting him to invest in shares

LIC is good if you die!

But returns are poor if you survive or surrender or make it paid up!

these days term plan is the best insurance to get 😛

actually, the agent misguides me. he told me that I need to pay only for 5 years and then i can get all my money back with interest. but now i found that i have to fund the policy for 8 years and can only get full money back with interest only after 12 years.
Well i was too careless to check details myself and just believed on his words. Now according to my calculation, I will lose 20000rs.

no one to blame but yourself sadly. there are many apps, many websites like policybazaar where the terms of policy are given clearly. You should have checked it atleast once.