Label: |
Interim & terminal bonuses on claims paid |
Concept Guidance: |
Report the total value of terminal and interim bonuses paid during the relevant period. A bonus is an amount of profit added at the discretion of the reporting party (including additions in respect of investment experience) to the benefits due under a Participating Benefit, but excluding any guaranteed rate of addition also applicable to the benefit. Terminal bonus is an additional payment to exiting policy owners beyond reversionary (and interim) bonus.An interim bonus is a payment to exiting policy owners in lieu of the reversionary bonus that would have attached to their policies had they remained in force to the relevant date.
|