Himalayan life has finally shared how much extra money its policyholders can earn this year, and the numbers show that long term customers are getting the biggest reward.
For the financial year 2081/82, the company has fixed its bonus at up to Rs 86 for every thousand rupees of insured amount. In simple words, the longer you keep your policy running, the higher the bonus you can expect.
If someone has a normal endowment type policy and has already completed more than 25 years, the bonus can go as high as Rs 63 per thousand. For people who are in special saving plans that mix endowment and whole life benefits, the bonus rises to Rs 75 after 25 years.
The biggest surprise is for those who chose advance payment policies. These are the plans where people pay earlier and wait longer for maturity. For them, Himalayan life is offering the highest bonus this year. After 25 years, they can receive up to Rs 86 per thousand, which is the top rate announced by the company.
Child related policies are also getting decent benefits. Depending on the plan and the number of years, parents can earn between around Rs 38 to Rs 50 per thousand. Long term child plans clearly get more than short ones.
Other life insurance products such as whole life, limited payment, annual cash back and corporate insurance plans have bonus rates mostly ranging between Rs 30 and Rs 75. Again, the same pattern is seen everywhere. Short term policies get lower bonuses, while those who stay invested for 20 to 25 years or more receive much higher returns.
The message from Himalayan life this year is clear. If you stay patient and keep your policy for a long time, the company will reward you with a much bigger bonus.
