Historical Bonus Rates for Birla Sun life insurance company
We had given the Historical Bonus Rates for Birla Sun life insurance company. Here this post contains the past 3 years bonus declaration details. Click the below links for your required data.
The Attached lists contains the bonus rates for the below plans.
- BSLI Vision Endowment Plus Plan Bonus Rates
- BSLI Vision LifeIncome Plan Bonus Rates
- BSLI Vision LifeSecure Plan Bonus Rates
- BSLI Vision MoneyBack Plus Plan Bonus Rates
- BSLI Vision Star Plan Bonus Rates
- BSLI Vision Endowment Plan Bonus Rates
- BSLI Vision Regular Returns Plan Bonus Rates
- BSLI Savings Plan Bonus Rates
Types of bonuses
Simple Reversionary Bonus: In all participating traditional endowment life insurance policies, the bonus amount gets accrued to the policy and keeps accumulating till the policy's maturity. This is the case of a simple reversionary bonus.
Compound Reversionary Bonus: From the second year onward, if the bonus is declared on the sum assured plus the previous year's attached bonus, it is a case of compound reversionary bonus. In both the cases, one can get the total bonus only on the maturity of the plan or death as that is 'reversionary' in nature.
Interim Bonus: Bonuses are declared at the end of the financial year. But, what if a policy matures or death occurs before the end of that period? Insurers declare interim bonus to take care of such situations and to avoid putting such policyholders at a disadvantage. The amount bonus, however, is added to the policy on pro-rata basis for that specific year.
Terminal Bonus: As the name suggests, terminal bonus is added only on the maturity of the policy or on death. It is a one-time bonus that the insurer may declare for policyholders who have run the policy till its original term. This bonus will therefore not be payable on policies which have acquired paid-up value or have been surrendered.