As stipulated by IRDAI in its circular F&I-CIR-INV-173-08-2011 dated July 29, 2011 the computation of Net Asset Value for Linked funds stands modified. Click here to Know more
The Asset Allocation of unit-linked funds, has been revised with effect from 1st November 2013. Please refer the 'Fund Performance'Section for details.
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IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint.
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Issued on 29th March 2001. Trade logo displayed above belongs to State Bank of India and is used by SBI Life under license.
SBI Life Insurance Co. Ltd, Natraj, M.V. Road & Western Express Highway Junction, Andheri (East),
Mumbai - 400 069.
CIN: L99999MH2000PLC129113
© 2024 SBI Life Insurance Company Limited. All rights reserved.
As stipulated by IRDAI in Annexure 2 of its circular F&I-CIR-INV-173-08-2011 dated July 29, 2011 & restated in IRDAI (Linked Insurance Products) Regulations, 2013, Ref. IRDA/Reg./15/73/2013 dated February 16, 2013, the computation of Net Asset Value for Linked funds stands modified.
We wish to inform all our policyholders / beneficiaries that in line with the recent changes introduced by IRDAI, the computation of Net Asset Value for Linked funds stands modified.
Old formula:
Market value of investment held by the fund +/- Expenses incurred in the purchase/sale of the assets + The value of any current assets + Any accrued income net of fund management charges - The value of any current liabilities less provisions, if any
Divided by the number of units existing at the valuation date (before any new units are allocated)
New formula:
Market Value of investment held by the fund + Value of Current Assets - Value of Current Liabilities & Provisions, if any
Divided by the number of Units existing on Valuation Date (before creation / redemption of Units)
Please note that SBI Life complies with the above mentioned changes w.e.f. August 17, 2011 and confirms that there will be no change in the number of units allotted to policyholders. Also, the policy documents shall stand modified accordingly.
Equity Valuation:
"As stipulated by IRDAI in its circular IRDAI/F&I/INV/CIR/213/10/2013 dated October 30, 2013, insurer shall select from National Stock Exchange (NSE) and BSE Ltd (BSE) as primary and secondary exchanges and the valuation of equity shares shall be made on the closing price of the primary exchange selected. If such security is not listed/ not traded on the primary exchange, Insurer shall use the closing price of the secondary exchange.
SBI Life Insurance Co. Ltd. has adopted NSE as the primary exchange and BSE as the secondary exchange for valuation of equity shares effective November 26, 2013.
The revised equity valuation policy of SBI Life is as follows:
"Listed equity shares will be valued at the closing price at the primary exchange i.e. National Stock Exchange (NSE) on valuation day.
If NSE price is not available on a particular valuation day, closing price of the secondary exchange i.e. BSE will be used for valuation.
If the security is not traded on both NSE and BSE on a particular valuation day, then the price at which the security is traded on the primary exchange and secondary exchange, as the case may be, on the earliest previous day will be used for valuation, provided such previous date is not more than 30 days prior to valuation date."
