Mumbai: Tata AIA Life Insurance Company (Tata AIA Life) has announced bonus for its policyholders on all eligible products for the financial year 2014-15. Bonus will be given to the policyholders completing 10th, 11th, 12th, and 13th year. The rate of bonus will vary as per the plan and years of policy term completion.
Compounded Reversionary bonus, which is computed on the sum assured and all accumulated bonuses, ranges between 3.75% and 5%. Simple Reversionary bonus ranges between 2.75% and 10% and, cash dividend is 17.9% and 34.7% per Rs. 1000 sum assured on the company’s most popular plans Tata AIA Life MahaLife & Tata AIA Life MahaLife Gold respectively.
The Company has also announced Terminal bonus as a percentage to Reversionary bonus, ranging between 3% and 70%. The Terminal bonus is will be give on applicable products covering policy term completion from 10 to 13 years.
On the announcement Amitabh Tapadar, Chief Marketing Officer, Tata AIA Life said, “We are pleased to announce annual bonus to our policyholders. Tata AIA Life has always aimed at customers’ financial well-being by offering positive returns on their investment on year-on-year basis. It is important to highlight that bonuses are declared as a percentage of sum assured. The details of bonus are available on the Company website www.tataaia.com and the same shall also been communicated to the eligible policyholders”.