Reversionary bonus:-
A traditional insurance policy,if in force/fully paid, shall participate in the profits of the company's policyholders fund from the commencement date of the policy. It gets a share of the profits in the form of bonuses.
These bonuses declared regularly and paid at the end (at the time of claim)are called reversionary bonuses. They are declared as a percentage rate, which applies to the sum assured of the policy,in respect of the basic policy benefit.
A traditional insurance policy,if in force/fully paid, shall participate in the profits of the company's policyholders fund from the commencement date of the policy. It gets a share of the profits in the form of bonuses.
These bonuses declared regularly and paid at the end (at the time of claim)are called reversionary bonuses. They are declared as a percentage rate, which applies to the sum assured of the policy,in respect of the basic policy benefit.
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