Final additional bonus is paid for with profit policies with term 15 years or above in the year of maturity. Insurer creates the reserve fund under each policy to meet future unexpected liabilities. If the experience is better, then at the time of maturity such reserve fund is distributed in form of Final additional bonus. As the term of policy is more the final additional bonus will be more.
Interim Bonus
The interim bonus rates are applicable to policies in respect of each policy year entered upon after 31/03/2008 and result into claims by death or maturity (including those discounted within one year of maturity) or are surrendered during the period commencing from 01/01/2009 and ending 9 months from the date of next valuation.( i.e. from 01.01.2009 to 31.12.2009).
licensed Life Insurance companies in India
| Name of the Company | Date of Registration |
| LIC of India | 1/9/1956 |
| HDFC Standard Life Insurance Co. Ltd | 23/10/2000 |
| Max New York Life Insurance Co. Ltd | 15/11/2000 |
| IC1CI Prudential Life Insurance Co. Ltd. | 24/11/2000 |
| Kotak Mahindra Old Mutual Life Insurance Ltd. | 10/1/2001 |
| Birla Sun Life Insurance Co. Ltd | 31/01/2001 |
| Tata AIG Life Insurance Company Ltd. | 10/2/2001 |
| SBI Life Insurance Co. Ltd | 30/03/2001 |
| ING Vysya Life Insurance Company Ltd. | 2/8/2001 |
| Bajaj Allianz Life Insurance Company Ltd. | 3/8/2001 |
| Met Life India Insurance Company Pvt. Ltd. | 6/8/2001 |
| Reliance Life Insurance Company Ltd. (Formerly AMP Sanmar life Insurance Co Ltd) | 3/1/2002 |
| Aviva Life Insurance Co. India Pvt. Ltd. | 14/05/2002 |
| Sahara India Life Insurance Co, Ltd. | 6/2/2004 |
| Shriram Life Insurance Co, Ltd. | 17/11/2005 |
| Bharti AXA Life Insurance Company Ltd. | 14/07/2006 |
| Future Generali Life Insurance Company Ltd. | 4/9/2007 |
| IDBI Fords Life Insurance Company Ltd. | 19/12/2007 |
| Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd | 8/5/2008 |
| AEGON Religare Life Insurance Company Ltd. | 27/06/2008 |
| DLF Pramerica Life Insurance Co. Ltd. | 27/06/2008 |
| Star Union Dai-Ichi Life Insurance Company Ltd. | 26/12/2008 |
Powered by Blogger.