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This question belongs to Commerce Insurance

Insurance

?

Reversionary bonus is declared as an amount

A) Per thousand premium paid B) Per thousand surplus of the company C) Per hundred premium paid D) Per thousand sum insured

Answer & Solution

Correct Answer: Option D

Reversionary bonus is the bonus declared every year as a percentage of (Guaranteed Maturity Benefit/Sum Assured + Earlier Reversionary Bonuses). It is payable on the death of life assured or maturity of the policy.

Question posted by Examveda

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