SBI Life value is determined by looking at the current market value of the life insurance contract, taking into consideration any accumulated bonuses or advances that may have been paid out by the insurer. The value of the SBI Life contract is also calculated taking into account the policyholder's age, the total insurance protection provided to them and the cash value of the policy.
In addition, SBI Life also has a surrender value, which is calculated based on the policyholder's total premiums paid, minus any applicable penalties. The surrender value is calculated to determine the amount payable to a policyholder if they decide to terminate their SBI Life contract early. Generally, the surrender value will be less than the value of the contract, as it reflects the loss of future insurance protection.
It is important to remember that the market value of the SBI Life contract is subject to change, depending on current market conditions and available options at the time the value is calculated. Additionally, the cash value of the policy can also vary depending on how much the policyholder has paid in premiums.