Business - Briefly

SBI Life announces reversionary bonus

CHENNAI: SBI Life Insurance announced reversionary bonus on its policies. On Lifelong Pensions, over the minimum guaranteed return of four per cent, the institution announced a two per cent simple reversionary bonus as on March 31, 2005 and a special ad-hoc one-time bonus of 4 per cent declared on September 30, 2004. This implies that the pension policies that were in force as on March 31, 2005, the annual return would range from 6 per cent to 8 per cent on the net contribution. For other participating policies, simple reversionary bonus has been declared on the sum assured. The bonus is added to policies that are in force as on March 31, 2005.

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