The Ministry of Communication on 14th January 2022, has declare a simple Reversionary Bonus on the Postal Life Insurance Policies on their becoming claims, due to death or maturity for the financial year 2022-23 which will be applicable from 01.04.2022..
The Rate of Bonus for Whole Life Assurance policy shall be Rs. 76 per thousand of sum assured and for Endowment Assurance (EA) (including joint life and children policies) shall be Rs. 52/- per thousand of sum assured and for Anticipated Endowment Assurance (AEA) it shall be Rs. 48/- per thousand of sum assured.
Further for Convertible Whole Life polices, Whole Life Bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable and for Terminal Bonus, Rs20/- per sum assured of Rs. 10,000/-, subject to maximum of Rs.1000 for Whole Life Assurance and Endowment Assurance policies with term of 20 years or more.
Interim Bonus at the rates mentioned above will also be payable for all claims arising due to maturity or death until future valuation is completed.
