Method of Surrender Value Calculation
Surrender Value = (Paid up value x Surrender value factor x Monthly adjustment factor) / 1000
Paid up Value = Paid up sum assured + Vested Bonus
Paid up Sum Assured = (No. of premium paid (in years) x Sum assured) / (Total no. of premium payable (in years))
Vested Bonus = (No. of premium paid (in years) x Rate of Bonus x Sum assured) / 1000

Surrender Value Factor (S.V.F.) = (1000) / (1.06) n+1

Where, n = Period (in years) i.e. No. of complete years remaining for maturity from the date of surrender.