If I have Jeevan Saral policy with SA Rs. 1 lakh, in 1st year loyalty bonus is declared Rs. 250 per thousand then I will get Rs. 25,000. In 2nd year, if declared bonus is Rs. 280 then will I get Rs. 25,000 or Rs. 53,000? What kind of bonus is given on maturity of policy?
Declared bonus on Jeevan Saral policies is given on policies which are surrendered, matured or on which claim has been paid. For active policies, there is no bonus. On maturity you will get maturity sum assured + loyalty addition bonus declared in maturity year.