In a recent notification issued by the Ministry of Communications, Department of Posts, Directorate of Postal Life Insurance (PLI), policyholders have reason to celebrate. Effective from April 1, 2024, the POLI has declared new rates for Reversionary Bonus on Postal Life Insurance Policies. This declaration comes after a meticulous Actuarial Valuation of the assets and liabilities of the Post Office Life Insurance Fund (POLIF) as on March 31, 2023.
| Type of Insurance Policy | Rate Of Bonus |
| Whole Life Assurance (WLA | Rs. 76/- per thousand of sum assured |
| Endowment Assurance (EA) (including Joint Life & Children Policies) | Rs. 52/- per thousand of sum assured |
| Anticipated Endowment Assurance (AEA) | Rs. 48/- per thousand of sum assured |
| Convertible Whole Life Assurance (CWLA) | Whole Life bonus rate would be applicable initially. However, upon conversion, the Endowment Assurance bonus rate will be applicable. |
| Terminal Bonus: | Rs. 20/- per sum assured of Rs. 10,000/-, subject to a maximum of Rs. 1000 for Whole Life Assurance and Endowment Assurance policies with a term of 20 years or more |
It’s important to note that these rates will be applicable for the Financial Year 2024-25.
Additionally, interim bonuses at the mentioned rates will be payable for all claims arising due to maturity or death until future valuation is completed.
Furthermore, to streamline the process, any bonus amount involving a fraction of 50 paisa or more shall be rounded off to the next higher Rupee, while fractions below 50 paisa shall be disregarded.
