Index Bonus
After enjoying a plate of paani puri, we are often treated to the delicious crispy and crunchy sukha puri. This savoury delight is like a bonus for our taste buds. Similarly, in the world of insurance, a bonus is extra money that a policyholder can receive on top of the sum assured.
There are various bonuses, including Simple Reversionary Bonus, Compound Reversionary Bonus, Interim Bonus, Cash Bonus, and Terminal Bonus. It's important to note that not all policyholders are eligible for a bonus except those with a participating plan.