Triennium Reversionary Bonus for APGLI Policy holders- GO.290
Triennium Reversionary Bonus for APGLI Policy holders- GO.290: Administration OF ANDHRA PRADESH – Insurance – Andhra Pradesh Government Life Insurance Department – Valuation of the Andhra Pradesh Government Life Insurance Fund for the period from 01-04-2005 to 31-03-2008 – Declaration of straightforward reversionary reward to the Policy holders of Andhra Pradesh Government Life Insurance Department – Acceptance of proposals of the Actuary – Orders – Issued.
Money (ADMN.II) DEPARTMENT
G.O.Ms.No. 290 Dated: 19.10.2013
1. G.O.Ms.No.132,
Finance (Admn.II) Department, dt. 25.06.2011.
2. Lr.No.30/General/2008-2009/2012-2013, dated:05.08.2013 of Director of Insurance, A.P., Hyderabad.
Triennium Reversionary Bonus for APGLI Policy holders- GO.290
Request: In the reference first read above, orders were given
announcing the reward for the triennium from 01-04-2002 to 31-03-2005.
In the reference second read over, the Director of Insurance
in his letter has proposed for statement of reward for the triennium for
01-04-2005 to 31-03-2008 dependent on the report of the Actuary.
In the wake of thinking about the report of the Actuary, and the suggestions of the Director of Insurance, on the consequences of Valuation of Andhra Pradesh Government Life Insurance Fund for the triennium from 01-04-2005 to 31-03-2008, Government thus grant the Director of Insurance to announce the accompanying reward. Reversionary Bonus to APGLI Policy holders.
APGLI Reversionary Bonus [Rs.100/for Rs.1000/ - ]:
a. straightforward reversionary Bonus of Rs. 100/ - per thousand totals guaranteed per annum be apportioned for each entire month, during which the polices were in power between 01-04-2005 to 31-03-2008, in regard of strategies which were in power on 31-03-2008. Be that as it may, such of these approaches which came about into a case by death or development on or after the presentation of past valuation results (for the triennium 2002-2005) and before the current valuation results are pronounced, are not permitted any reward now as they were chosen the premise of between time reward at the rates suggested in the past valuation report.
b. In regard of strategies which become claims by death or development on or after the date of revelation of present valuation results and before the following valuation, results are proclaimed, break reward be apportioned for each entire month for which such approach is in power during the period from 01-04-2008 to the date of death or end of the arrangement all things considered, at the pace of Rs 100/ - per thousand totals guaranteed per annum.
In regard of approaches gave up during the above period, the between time reward is paid given the strategy is in power on the following valuation date additionally for example break reward isn't paid for a messed up time of a valuation triennium.
1. The above extra rates will be material to the cases emerged on or after the date of the issue of this request.
2. The Director of Insurance, A.P., and Hyderabad will make an important move in the matter as needs be.
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