Life Insurance Corporation of India [LIC] — surrendering a policy

Address:	380015
Website:	www.licindia.in

I had purchased a 20 year plan for the jeevan saral policy (165) in 2012 and have since paid 4 annual premiums (The 5th one was due in august 2016 but it has not yet been paid) according to the fine print, the special surrender value of the policy after paying 4 premiums is 90% of the maturity sum assured and the special surrender value after paying 5 premiums is 100% maturity sum assured.

I have gone to the lic office 3 times in the last week, i have spoken to their rep over the phone. The quote that i have received for surrendering my policy after paying 4 premiums is no where close to the formula they describe in the policy and no one is ready to explain how they have arrived at the figure that they are quoting.

I was spoken to very badly at the office. Papers were snatched out of my hands on multiple occasions and they said that they will not give me any additional details as i may committ fraud - i fail to understand how a paying customer can be spoken to that way.

I need to know how the special surrender value calculation is done for each year that i would/already have paid premium.