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Insurance Bonus – Must know facts.

Six must know facts about bonus in insurance plans

  1. Any life insurance company is supposed to give out a part of the profit that it makes to its policyholders in the form of bonus.
  2. All life insurance plans are not eligible for bonus. A plan is eligible for bonus if an only of it is participatory.
  3. Bonus and guaranteed addition (GA) are different. Bonus is variable while GA is a fixed amount.
  4. Bonus depends on quantum of investment gains.
  5. Reversionary bonus is an amount that keeps adding to the policy till the policy’s maturity.
  6. Terminal bonus is a onetime bonus that is added on maturity of policy or on death.

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