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European Insurance and Occupational Pensions Authority

1179

Q&A

Question ID: 1179

Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities

Article: 35

Status: Final

Date of submission: 13 Jun 2017

Question

Is surrender value amount calculated from booked reserves or from best estimate reserves?

EIOPA answer

The surrender value should reflect the amount, defined contractually, to be paid to the policyholder in case of early termination of the contract (i.e. before it becomes payable by maturity or occurrence of the insured event, such as death), net of charges and policy loans. It includes surrender values guaranteed and not guaranteed.