Big news for 'State Govt Employees': Govt announces bonus on 'Insured Sum' (KGID)
The government has announced a bonus on sum insured for all policies of Karnataka Government Employees. Ordered a dividend of Rs.85 per thousand rupees per year. This is a great news for the state government employees.
Proceedings have been issued and ordered by the Under Secretary of the Government of the Finance Department in this regard. According to this order, under the compulsory life insurance scheme of Karnataka Government Insurance Department for the biennial period ending 01-04-2016 to 31-03-2018, bonus on the fixed amount of life insurance policies has been sanctioned based on the insurance valuation report.
Still based on the Insurance Valuation Report for the biennium 2016-18 in respect of the Compulsory Life Insurance Scheme operated by the Karnataka Government Insurance Department, the Government has sanctioned the bonus as follows.
A bonus of Rs.85 per thousand rupees per year has been ordered for all the policies in force during the biennial period from 01-04-2016 to 31-03-2018.
Apart from this, an interim bonus of Rs.85 per thousand rupees per year has been given to the insurance policies which have expired during the period of 01-04-2018 to 31-03-2020 from the maturity, death and surrender values.
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