A company may apply an MVR on all investments that have been running for less than five years, for example, or where the amount paid out within any 12 month period is more than £25,000. The MVR is designed to protect investors who are not taking their money out and its application means that you get a fair share of the with-profits fund in which your payments are invested.ĭifferent companies apply MVR at different times and with different criteria. Most policies will include at least one date or circumstance on which an MVR will not be applied - for example, on the death or retirement of the policyholder, the maturity of the policy, or any other contractual date. The purpose of the MVR is to ensure that the surrender value is not unfairly higher than the market value of the policy's assets, and that a fair share is left for the remaining policyholders. This will reduce the surrender value of your policy to reflect poor investment conditions. This is Money replies: On some types of with-profits policy, if you surrender the policy early the company may apply a Market Value Reduction (MVR) also called a Market Value Adjustment (MVA) or Surrender Value Reduction (SVR).
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