The Andhra Pradesh Government Life Insurance Department will announce the APGLI Reversionary Bonus 2023 to Policy holders, check govt orders details from here
APGLI scheme is a valuable benefit for government employees in the state of Andhra Pradesh, India. In addition to providing life insurance coverage, the APGLI scheme also offers a reversionary bonus to its policyholders.
In this post, we will take a closer look at what reversionary bonus is, and how it works for APGLI policyholders. Reversionary bonus is a type of bonus that is paid to life insurance policyholders by the insurance company.
It is a form of interest that is paid on the policyholder’s accumulated premiums, and it is calculated based on the insurance company’s profits and the performance of the policy.
In the case of APGLI, the reversionary bonus is paid to policyholders annually, and it is added to the sum assured of the policy. This means that the policyholder’s coverage amount increases each year, providing additional financial security for their loved ones in case of an unfortunate event.
The reversionary bonus is calculated based on the performance of the APGLI scheme and the profits earned by the insurance company. It is determined by the APGLI Board of Trustees and is subject to the approval of the government. Policyholders are informed of the bonus amount in advance, and it is credited to their policy account on the date specified by the board.
It’s important to note that the reversionary bonus is not guaranteed, and the bonus amount may vary from year to year depending on the performance of the scheme and the insurance company. However, over time, the bonus amount can accumulate and provide significant additional coverage for the policyholder’s loved ones.
In summary, the APGLI reversionary bonus is a valuable benefit for policyholders that provides additional financial security for their loved ones. The bonus is paid annually and added to the sum assured of the policy, increasing the coverage amount over time.
It’s a unique feature of the APGLI scheme that sets it apart from other life insurance options. Policyholders can feel secure in the knowledge that their coverage amount is increasing each year, providing additional protection for their families in case of an unfortunate event.
|Name of the bonus||APGLI Bonus 2023|
|Title||Check the APGLI Reversionary Bonus 2023|
|Subject||The Department released APGLI Reversionary Bonus 2023 for the triennium to Policy holders|
AP GO.No.110 Released for APGLI Reversionary Bonus [Rs.100/ for Rs.1000/-] for the triennium to APGLI Policy holders under Valuation of APGLI Fund. APGLI Andhra Pradesh Government Life Insurance Department had declared the Simple reversionary bonus to the policy holders of APGLI Department. For more details are available at http://www.apgli.ap.gov.in.
A simple reversionary Bonus of Rs. 100/- per thousand sum assured per annum be allotted for each full month, during which the policies were in force between 01.04.2011 to 1.6.2014, in respect of policies which were in force on 1.6.2014.
In respect of policies which become claims by death or maturity on or after the date of declaration of present valuation results and before the next valuation results are declared, interim bonus be allotted for each full month for which such policy is in force during the period from 02.06.2014 to the date of death or end of the policy as the case may be, at the rate of Rs. 100/- per thousand sum assured per annum.
In respect of policies surrendered during the above period, interim bonus is paid provided the policy is in force on the next valuation date also i.e., interim bonus is not paid for the broken period of a valuation triennium.