a bonus added to the sum payable on death or at the maturity of a with-profits assurance policy
reversionary bonus in Insurance
(rɪvɜrʒənɛri boʊnəs)
Word forms: (plural) reversionary bonuses
noun
(Insurance: Life insurance)
A reversionary bonus is a bonus added to the value of a life insurance policy.
The profits are allocated to each with-profit policy and are paid as reversionary bonuses in addition to the specified sum insured.
Holders of with-profits policies will receive a share in the surplus usually by allocationas a reversionary bonus added to the sum assured and payable with it.
A reversionary bonus is a bonus added to the value of a life insurance policy.