Simple reversionary bonus
Compound reversionary bonus
Terminal bonus
Any of the above
✅ The correct answer is D.
Simple reversionary bonus, Compound reversionary bonus and Terminal bonus, all this are bonus.
Simple reversionary bonus is a with profits life assurance bonus, normally declared annually, which is based on the profits of the life company’s investment and is payable at the maturity of the policy or prior death.
Simple Reversionary bonus (SRB) This type of bonus is calculated on the sum assured only. This bonus is declared annually and is accrued to be paid out at the time of a claim or maturity.
Terminal Bonus is also known as persistency bonus which is paid once, i.e. at the time of maturity of the policy.
Simple reversionary bonus, Compound reversionary bonus and Terminal bonus, all this are bonus.
Simple reversionary bonus is a with profits life assurance bonus, normally declared annually, which is based on the profits of the life company’s investment and is payable at the maturity of the policy or prior death.
Simple Reversionary bonus (SRB) This type of bonus is calculated on the sum assured only. This bonus is declared annually and is accrued to be paid out at the time of a claim or maturity.
Terminal Bonus is also known as persistency bonus which is paid once, i.e. at the time of maturity of the policy.