Kathmandu: Asian Life Insurance has announced the policyholders’ bonus rate for the last financial year 2078-79. Based on the actuarial valuation report of last FY, the company has announced a bonus rate from Rs. 42 to Rs. 75 per year per thousand sums assured. The company has succeeded in improving the rate as compared to the previous financial year 2077-78.
According to the notice published by the company, the policyholders will get Rs. 61 to Rs. 75 per thousand per year for a whole-life endowment policy. The company has declared Rs. 61 per thousand per year for a term of 0 to 14 years, 15 to 19 years, and 20 to 24 years. Apart from this, Rs. 75 is offered for a term of 25 years or above. In FY 2077-78, the policyholders’ bonus rate for the whole life plan was in the range of Rs.50 to Rs.75 per thousand per year.
The company has announced Rs. 45 per thousand per year for a term up to 14 years, Rs. 50 for the term of 15 to 19 years, Rs. 55 for the term of 20 to 24 years, and Rs. 60 for the term of 25 years or more of endowment plans. The declared bonus rate for the endowment plan in FY 2077-78 was Rs. 40 to Rs. 60.
The company has announced Rs. 44 to Rs. 60 for the child endowment plans. Policyholders with the term 0 to 14 years will receive Rs. 44, 15 to 19 years will receive Rs. 50, 20 to 24 years will receive Rs. 53 and 25 years or above will receive Rs. 60 per thousand per year. Under the child plan, the policyholders received Rs. 40 to Rs. 60 during the previous FY.
For Navratna, Jeevan Sanjeevani, Dampatti Suraksha Plus, Asian Annual Moneyback, and Child Moneyback Endowment plan the company has announced policyholders’ bonus rate from Rs. 42 to 60. For a term up to 19 years Rs.42, and for a term of 20 to 24 years Rs. 45, and Rs.50 for a term of 25 years or above. In the previous year 2077-78, the bonus rate for this group of plans was in the range of Rs. 40 to 60.
In addition, for the money-back endowment plans, the policyholders’ bonus rate is in the range of Rs. 50 to 70 per year per thousand of sum assured. For a term of 10 and 12 years Rs. 50, 15, and 18 years Rs. 60, 20 years Rs. 65 and 25 years or above Rs.70 per year per thousand of sum assured is offered for the FY 2078-79. In the previous FY 2077-78, the policyholders’ bonus rate was in the range of Rs.50 to Rs. 70.
Due to future bonus provisioning, the company couldn’t offer the expected bonus rate to the policyholders during the previous two FY 2076-77 and 2077-78. It seems that the company has improved its policyholders’ bonus rate.