Simple Reversionary Bonus |
| A with profits life assurance bonus, normally declared annually, which is based on the profits of the life companys investments. The simple reversionary bonus is calculated on the sum assured (or basic sum assured) only and is payable at the maturity of the policy or prior death. Once reversionary bonuses are declared, they cannot be withdrawn by the life company provided the policy conditions are fulfilled until a claim is made (that is, at maturity or previous death). |
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