There is a simple formula to calculate the Guaranteed Surrender Value, which is (Guaranteed Surrender Value Factor X Purchase Price) – Total Annuity Amount payable till the surrender date. The Guaranteed Surrender Value is:
Policy Year: 1; GSV Factor: 75%
Policy Year: 2; GSV Factor: 75%
Policy Year: 3; GSV Factor: 75%
Policy Year: 4; GSV Factor: 90%
Policy Year: 5; GSV Factor: 90%