Insurance Regulatory and Development Authority (IRDA) has been receiving complaints, through email/letters and in its Integrated Grievance Management System, from members of public informing the Authority that they are receiving spurious calls from unidentified persons:Д¬laiming to be representatives of IRDA and offering insurance policies of different insurance companies with various benefits.Д¬laiming that IRDA is distributing bonus to insurance policy holders out of the funds invested by insurance companies with IRDA.Д¬laiming that the policyholder would receive bonuses being distributed by IRDA if they purchase an insurance policy and wait for a few months after which the bonus would be released by IRDA.ДЄdvising customers to subscribe to fresh policy after surrender of the existing policy and wait for a few months after which the fresh policy would be entitled for additional enhanced returns / benefits. 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.' If NSE price is not available on a particular valuation day, closing price of the secondary exchange i.e.

National Stock Exchange (NSE) on valuation day. 'Listed equity shares will be valued at the closing price at the primary exchange i.e. The revised equity valuation policy of SBI Life is as follows:

has adopted NSE as the primary exchange and BSE as the secondary exchange for valuation of equity shares effective November 26, 2013. If such security is not listed/ not traded on the primary exchange, Insurer shall use the closing price of the secondary exchange. 'As stipulated by IRDAI in its circular IRDAI/F&I/INV/CIR/2 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. Also, the policy documents shall stand modified accordingly. Augand confirms that there will be no change in the number of units allotted to policyholders. Please note that SBI Life complies with the above mentioned changes w.e.f. Market Value of investment held by the fund + Value of Current Assets - Value of Current Liabilities & Provisions, if anyДivided by the number of Units existing on Valuation Date (before creation / redemption of Units) 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 anyДivided by the number of units existing at the valuation date (before any new units are allocated) 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. IRDA/Reg./ dated February 16, 2013, the computation of Net Asset Value for Linked funds stands modified. As stipulated by IRDAI in Annexure 2 of its circular F&I-CIR-INV-173-08-2011 dated J& restated in IRDAI (Linked Insurance Products) Regulations, 2013, Ref.

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