Types of bonuses in Life Insurance: #3 Terminal Bonus
Wednesday, July 12, 2017, 3:54 PM
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.