Types of Life Insurance Bonus

By | June 22, 2013
There are three types of Life Insurance bonus.

1. Simple Reversionary Bonus

It is the bonus declared against the sum assured of the policy.

2. Compound Reversionary Bonus

It is the bonus declared against the sum assured and also against the already declared bonus till previous year.

3. Terminal Bonus

It is the one time bonus declared at the end of policy term or a after a specified year. Its is to motivate the customer for stayed for a longer term with the company. It is also declared against the sum assured.

Leave a Reply