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Wednesday, September 26, 2012

Bonus rates of PLI for the year 2009-10 declared

The rates of Bonus for the year ending 31.03.2010 on the Postal Life Insurance Policies on their becoming claim due to death or maturity declared vide Directorate of Postal Life Insurance Notification No.4-1/2008-LI dated 17th September, 2012 are as follows.

Sl. Type of Insurance Policy        Rate of Bonus

(i) Whole Life Assurance (WLA) Rs.85 per thousand sum assured

(ii) Endowment Assurance (EA) Rs.60 per thousand sum assured

(iii) Money Back Policies (AEA) Rs.55 per thousand sum assured

(iv) Convertible Whole Life Policies Whole Life Bonus would be applicable but on conversion, Endowment Bonus rate will be applicable

(v) Terminal Bonus Rs.20 per sum assured of Rs.10,000 subject to maximum of Rs.1,000 for whole life policies and Endowment policies with term of 20 years and above.

The rate of Bonus for the year 2009-10 will be applicable from the date of receipt of this notification by the Circles and this will also be applicable to claim cases received but not settled till the date of receipt of this Notification.

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.

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