Section 16(a) in Insurance Regulatory and Development Authority of India (Unit Linked Insurance Products) Regulations, 2019
(a)Surrender Value: All individual Unit Linked insurance and pension products shall acquire surrender value in the following manner:(i)Unit Linked insurance products other than Unit Linked pension products shall acquire surrender value stipulated in Regulations 10 & 14 under these Regulations.(ii)Unit Linked Pension Products shall acquire surrender value as stipulated in Regulation 21 under these Regulations.
