THE GAZETTE OF INDIA: EXTRAORDINARY [PART I—Sec. 1]
MINISTRY OF COMMUNICATIONS AND INFORMATION TECHNOLOGY
(Department of Posts)
(DIRECTORATE OF POSTAL LIFE INSURANCE)
New Delhi, the 29th October, 2012
Type of Insurance Policy Rate of Bonus
(I) Whole Life Assurance (WLA) Rs. 65 per thousand sum assured
(II) Endowment Assurance (EA) Rs. 50 per thousand sum assured
(III) Anticipated Endowment Assurance Rs. 47 per thousand sum assured
(IV) Convertible Whole Life Policies Whole life bonus rate would be applicable but on conversion, endowment bonus rate will be applicable.
2. The rate of Bonus for the year 2008-09 will be applicable from the date of receipt of thisNotification by the Circles and this will also be applicable to claim cases received but not settled till the date of receipt of this Notification.
3. 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.
4. The amount of Bonus involving a fraction of 50 paise or more shall be rounded off to the next higher Rupee and fraction below 50 paise shall be ignored.
5. This issues with the concurrence of Finance Advice (Postal) vide their Dy. No. 1356 dated 25-10-2012.
A.K. PODDAR, General Manager (PLI)
Equivalent to the Rank of Jt. Secy. , Government of India