Special Surrender Value means the special surrender value computed in accordance with Clause 1.6 of Part D;
Special Surrender Value means the special surrender value which is payable in accordance with Section 4(b).
Examples of Special Surrender Value in a sentence
The Special Surrender Value is reviewable and shall be determined by the Corporation from time to time subject to prior approval of IRDAI.
The Special Surrender Value may be amended by the Company from time to time with prior approval of the IRDAI.
On surrender of the policy, the Corporation shall pay the Surrender Value equal to higher of Guaranteed Surrender Value and Special Surrender Value.
The Special Surrender Value will be based on an assessment of the asset share progression at different durations of the policy.
This Special Surrender Value will always be greater than or equal to the Guaranteed Surrender Value.
More Definitions of Special Surrender Value
Special Surrender Value means an amount which is calculated in the following manner: Special Surrender Value = Special Surrender Value Factor x (Number of Instalment Premiums received /Total number of Instalment Premiums payable for the Premium Paying Term)* Sum Assured The Special Surrender Value Factors shall be determined based on Our expectation of future financial and demographic conditions and may be reviewed by the company from time to time with prior approval from IRDA.
Special Surrender Value means an amount which is calculated in the following manner: Special Surrender Value = Special Surrender Value Factor x (Number of Instalment Premiums received /Total number of Instalment Premiums payable for the Premium Paying Term) * (Sum of total benefits payable during payout period as described under the Clause 3, Maturity Benefit in Part C above) The Special Surrender Value Factors shall be determined based on Our expectations of future financial and demographic conditions and may be reviewed by the Company from time to time, with prior approval from IRDAI.
Special Surrender Value means an amount which is calculated in the following manner:
Special Surrender Value means an amount which is calculated in the following manner:Special Surrender Value = Special Surrender Value Factor x (2* Paid Up Sum Assured less any sum total of Survival Benefits already paid). Where, Paid Up Sum Assured =(Number of Instalment Premiums received / Total number of Instalment Premiums payable for the Premium Paying Term)*Sum Assured The Special Surrender Value Factors shall be determined based on Our past financial and demographic experience and likely future experience. These may be reviewed from time to time depending on changes in internal and external experience and likely future experience, with prior approval from IRDAI