'Bonus' is defined as an additional benefit in excess
of the basic benefit, paid to a 'with profit life insurance policy'. It
is the amount added to the basic sum assured. A 'with profit plan' enables
the policyholder to participate in the profits earned by the insurance company,
which are then added to the sum assured of the policy, which is either paid
out when the policy matures or in the event of death of the insured.
The Life Insurance Corporation of India (LIC) announces
bonus on its 'with profit plans' annually. This section will carry the bonus
announced by the Corporation from time to time. Your search ends here if
you have any queries pertaining to LIC bonus.
