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Glossary
Terminal Bonus: A one-time additional bonus paid at the end of a participating life insurance policy, subject to performance and conditions Participating Policy: A life insurance policy that shares in the insurer’s profits through declared bonuses
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Types of Bonuses in Life Insurance Policy
Terminal Bonus: It is a one-time bonus paid at the maturity of the policy or upon death. It is a reward for long-term policyholders and is not payable each time.