The Ministry of Communication vide its notification dated 14th January 2022 has declared a simple Reversionary Bonus on the Rural Postal Life Insurance Policies for the Financial Year 2022-23 which shall be applicable from 1st April 2022.
The Reversionary Bonus on the Rural Postal Life Insurance Policies on their becoming claims, due to death or maturity shall be at the following rates :-
The Rate of Bonus for Whole Life Assurance policy shall be Rs. 60 per thousand of sum assured and for Endowment Assurance (EA) (including children policy) it shall be Rs. 48/- per thousand of sum assured and for Anticipated Endowment Assurance (AEA) it shall be Rs. 45/- per thousand of sum assured.
Further for Convertible Whole Life Assurance, Whole Life Bonus rate would be applicable, but on conversion, Endowment Assurance bonus rate will be applicable and for Terminal Bonus, Rs20/- per sum assuredof 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.
