Which insurance policies qualify for bonus?
Wednesday, July 12, 2017, 3:25 PM
Bonus is not payable to every policyholder but depends on the kind of policy one holds. Traditional insurance plans, such as endowment or money-back plans, can either be 'participatory' (or 'with-profit') plans, thereby qualifying for bonus, or 'non-participatory' (or 'without-profit') plans that do not qualify for bonus. Understandably, 'non-participatory' policies come at a lower premium compared to 'participatory' ones.