ICICI Prudential Life Insurance — gsip policy no[protected] surrender issue

Address:

Salem, Tamil Nadu, 636402

I have raised a query regarding surrendering my policy on feb 20th. I am yet to get reply for that in spite of continuous followup with life line customer care[protected] and nearest branch office (Salem, tamil nadu). Customer care keep on telling that it is getting delayed and 'll take another 48hrs for the past 25 days.

Gsip policy details:
Premium paying term - 7 years
Maturity - 15 yrs
Policy taken 2011
Half yearly premium
No of premiums paid - 13 out of 14
Policy in force

So far i have paid 13 premiums out 14 to be paid so far. I would like to surrender my policy.

As per terms and conditions, if i surrender my policy i 'll be getting higher of either gsv or ngsv

Guaranteed surrender value:
35% of premium paid - first year premium
=[protected]
=rs.57553

Non guaranteed surrender value:
Equal to present value of pusa, discounted at gry at the review date immediately preceding the date of surrender (As per t&c 4 brochure), plus 2% per annum
Pusa = gmb × (Total no of premium paid/total no. Of premium payable)
Gmb = 195000 + 51240
Pusa = 246240 × (13/14)
Pusa = 228651
Ngsv = 228651 discounted at gry + 2% per annum

Method 1:
Assuming gry 8% + 2%
228651 discounted at 10% = rs.205785.9

Method 2:
Assuming gry 8%
228651 discounted at 8% = 208558.92
Discounting at 2% per annum
6.5 yrs = 13%
Discounting 208558.92 @ 13%
Rs.181446.26

Around 2 lak approx to be received

But icici prudential trying to loot my money by giving just rs.1.08 lakh where as i have paid 1.95lakh so far.

The query is regarding requirement of ngsv derivation!.

Rgds,
K vinoth kumar