3.1.2 Surrender Values
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It should be appreciated that 'surrender value' for one product
will not necessarily have the same interpretation for another.
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With profits products have an 'unknown' surrender value because
of the nature of the investment.
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Unit linked products will have a clear surrender value because
it is calculated on the bid value of quoted unit prices.
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Deposit based products will fall somewhere between the above two
in terms of ease of calculation, as the surrender value will depend
on interest earned to date, less any penalties for early surrender.
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Key features documents for life assurance products help to identify
potential surrender values
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