Hi, sorry my firm uses different terminology but same thing !! Basically this happened a few years ago in my firm too and when I arrived there were MVRs (giving a net value of 20k) but when the markets recovered about 6mths after all the MVRS were removed so the policy was worth say 26K again. I have to say that Std Life MVRs were quite hefty but they will reduce eventually so if you are in no rush don't surrender now if you don't HAVE to. If you want get an idea of the value before mvr ask for unit value and you will prob see its not far off your last value as thats what my mum found when we looked at it.