Section 21 in Insurance Regulatory and Development Authority of India (Non-Linked Insurance Products) Regulations, 2019
21. Special Surrender Value.
- The special surrender value shall represent the asset share in case of the par policies, where the asset share shall be determined in accordance with the guidance or practice standards issued by the Institute of Actuaries of India. For non-par savings policies, the special surrender value shall reflect the guaranteed maturity or survival benefits under the policy.Chapter: X Miscellaneous Provisions
