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SBI Life announces 9 p.c. bonus

NEW DELHI: SBI Life Insurance, a 74:26 joint venture between the State Bank of India and France-based Cardif SA with a paid-up capital of Rs. 500 crore, announced on Wednesday a nine per cent bonus, comprising simple annual bonus of five per cent and guaranteed return of four per cent, on all its life-long pensions policies for 2006-07. Of eight life-long pension schemes, it declared a total revisionary bonus of 2.25 per cent on Sudarshan Plan A and 1.50 per cent on Sudarshan Plan B, a release says.

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