1651

EIOPA confirms that in both templates S.12.01 and S.14.01 the surrender value have the same meaning i.e. it 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. It is the surrender value of all policies as at the reference date.