Jiban Bima declares Tk 600cr in bonuses, settlements

The state-owned Jiban Bima Corporation (JBC) has announced policy bonuses and claim settlements of about Tk 600 crore at different rates in favor of policyholders.
 
It was announced at the 631st meeting of the life-insurer's board of directors on Thursday.
 A bonus in life insurance is the extra sum of money that the insurance company may give you if you have a certain type of policy, called a 'Participating Policy'.
 
This bonus is like a reward or benefit that policyholders receive based on the insurance company's profits.

Currently, JBC has about 400,000 ongoing policies.

NY