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Our Bureau

Mumbai , May 13

TATA AIG Life has announced a reversionary bonus of 3.5 per cent of the sum assured for the financial year ended 2004-05.

This bonus is applicable for all eligible participating plans.

This reversionary bonus is declared on the "sum assured or face value" of the policy, and not on the premium paid. The bonus has been calculated on a compounded basis and is payable not only on the sum assured but also on the bonuses that have already accrued on the policy.

According to a press release, Mr Ian-J Watts, Managing Director, Tata AIG Life said, "The future levels of bonus is dependent on the performance of Tata AIG Life and the economic climate, and we will continue to manage our business prudently to generate value through bonuses for our policyholders."

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