• # ## समर्पण

समर्पण

Surrender Value = Paid up Value×Surrender Value Factor×Monthly Adjustment Factor 1000

where, Surrender Value Factor(SVF) = 1000/ (1.06) n+1

n = Number of complete years remaining for maturity from the date of surrender

Paid up Value = Paid up Sum Assured + Vested Bonus

Monthly Adjustment Factor(MAF) =1+0.5% of number of complete months between the Surrender date - previous Policy Anniversary

#### EXAMPLE :

• Type Of Insurance : Asian Sabadhik (Endowment)
• Sum Assured : 101000/-
• Term : 20 yrs
• Mode Of Payment : Yearly
• Date of Commencement : 2008/09/16
• Date of Maturity : 2028/09/16
• Date of last premium paid : 2009/10/11
• Date of Surrender : 2010/12/16
• Rate of Bonus : 0
• Total No. of premium paid in years : 2
• Total No. of premium payable in years : 20 years
• Paid Sum Assured = No of Premium paid in years×Sum Assured×Bonus Rate / No of Premium payable in year = 2*101000/2 =10,100
• Bonus = No of Premium paid in years×Sum Assured×Bonus Rate / 1000
• Paid Up Value = Paid up Sum Assured + Vested Bonus = 101000+0 = 10100
• n = Number of complete years remaining for maturity from the date of surrender (The period from 2010/12/16 (Date of Surrender) to 2028/09/16 (Date of Maturity) is 17 Year and 9 months. Thus there are 17 complete years) Thus n = 17
• Surrender Value Factor(SVF) = 1000/ (1.06) n+1
= 1000/ (1.06) n+1 = 350.340 per thousand.
• Hence the Factor is 350.340 per thousand.
• Monthly Adjustment Factor = The Period from 2010/09/16 (Date of last Policy anniversary) to 2010/12/16 (Date Of Surrender) is 3 complete months.
• =1+0.5% *3 = 1+0.015 =1.015
• Therefore, Surrender Value =
Paid of Value×Surrender Value Facotor×Monthly Adjustment Factor
1000
= 101000*350.340*1.015 / 1000
= Rs 3591.51 = Rs 3591