Bonus Cut and Restoration

A policyholder complained that his insurer (not NTUC Income) cut bonuses on all insurance policies in bad times but restored them selectively in good times.

He had two endowment policies outstanding with the company. The bonuses were cut in 1999 and have not been restored since then and the terminal bonus is still in suspension.

According to him, the insurer "was trigger happy to cut bonus rates on its policies during bad times, but during good or better times, restoration was applicable only to policies that matured in certain years. Why was restoration of bonus rates not accorded to all its policies in the same spirit as during the reduction exercise?"