From the policy illustration of an endowment plan, under the final year which shows the maturity value based on 2 illustrated rates, is the total amount inclusive of performance and maturity bonus?

Hi Anon, I'll use the below table to highlight this.

The most right-hand side column is what you will get if your policy does not cut any bonuses throughout the policy term. This includes your guaranteed amount, all reversionary bonuses, accumulated reversionary bonus, and terminal bonus.

So in the example, if the policy owner holds their policy till maturity and the insurer doesn't cut bonus, they will get the 63,621 listed as the maturity figure which is a combination of 51,576 guaranteed and 12,045, non-guaranteed bonus.

The 3.25% column is an arbitrary figure that doesn't mean anything. Because even if an insurer does cut bonus, they may give adjust it to whatever the actuaries deem fair for both sustanability of the par fund, profit to insurer, and profit for consumer.

Plus an insurer will only cut bonuses if the expected long-term performance of the par fund is significantly reduced, or if they have a very negative claims experience above what the actuaries have calculated at time of product creation.