Q138
Terminal bonus is payable at the time of
A.
Surrender
B.
Maturity/death
AnswerC.
Loan
D.
None of the three
Answer: Option B
Solution
Answer: Option B
Solution:
Terminal bonus is also known as persistency bonus which is paid once, i.e. at the time of maturity of the policy. It is a sort of loyalty bonus given to a policyholder for maintaining the policy till maturity.