Actuarial Valuation Surplus definition
Actuarial Valuation Surplus means the surplus arising in the Participating life policyholders' fund, established by Us for Participating life insurance policies and calculated by the Appointed Actuary in accordance with the standards or guidance issued by the Institute of Actuaries of India and in accordance with the Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002;
Actuarial Valuation Surplus means the surplus arising in the Participating life policyholders‟ fund, established by Us for Participating life insurance policies and calculated by the Appointed Actuary in accordance with the standards or guidance issued by the Institute of Actuaries of India and in accordance with the Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002;
Examples of Actuarial Valuation Surplus in a sentence
Under this Policy, We may declare a Cash Bonus on the Guaranteed Maturity Sum Assured and on the accrued Paid Up Additions, if any, based on the Actuarial Valuation Surplus.
Under this Policy, We may declare a Cash Bonus on the Guaranteed Maturity Sum Assured and on the accrued Paid-Up Additions, if any, based on the Actuarial Valuation Surplus.