When LIC add bonus will be credited?

Asked by: Ms. Lulu Champlin  |  Last update: December 20, 2025
Score: 4.8/5 (59 votes)

This bonus is payable only at the time of final payment under the policy. Present loan position will be displayed such as total loan outstanding under the policy, due up to which loan interest paid etc.

When bonus guaranteed addition in LIC?

Simple Reversionary Bonuses are declared per thousand Sum Assured annually at the end of each financial year. Once declared, they form part of the guaranteed benefits of the plan. Bonuses will be added during the selected term or till death, if it occurs earlier.

How can I check my LIC bonus status?

Step 2: Log in using your username and password in the "Customer Services" tab. Step 3: Select "LIC Policy Status" under the "Customer Services" tab. Step 4: Click on the policy number to view details such as the policy term, premium due date, sum assured, accrued bonuses, and more.

In which month was the LIC declared bonus?

These bonuses are declared on 1st September every year. For the financial year 2021-22, LIC declared the latest bonus rates as per the valuation done on 31st March 2021. Why we need your mobile number?

How to get bonus amount from LIC?

Simple Reversionary Bonus: This is added annually to the sum assured and is paid out at the end of the policy term or on the policyholder's death. It's calculated as a percentage of the sum assured.

How to VIEW your Bonus Credit of LIC

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At what stage does the bonus become guaranteed?

The amount of bonus payable is not fixed and it may vary depending on the amount of investment income earned by the insurance company. The bonuses are a percentage of the sum assured and these are declared at the end of every financial year. When declared, it becomes guaranteed.

Can I withdraw my LIC bonus?

Depending on the terms and conditions of the LIC policy, the accumulated bonus will be given. Since surrendering a policy is considered equivalent to breaking a contract, the policyholder will receive only a limited portion of money that he/she has paid as premiums.

How to check loyalty addition in LIC?

If in case the policyholder dies in the 10th year of policy then the applicable rate of loyalty additions will be 425 and total loyalty additions will be 1lac X 425/1000 = 42,500.

How is a bonus declared in life insurance?

Bonus is either computed as a percentage of the sum assured or as a certain amount per ₹1000 of the sum assured. For example, if the bonus is ₹50 per ₹1000 for a policy with a sum assured of ₹1 lakh, the annual bonus will be ₹5000. For a policy term of 10 years, the simple reversionary bonus will be ₹50,000.

What is the LIC break after 10 years?

LIC declares a guaranteed surrender value factor if you have been paying premiums for 10 years or more. In this case, guaranteed surrender value will be equal to : (total premium paid multiplied by the guaranteed surrender value factor) plus (bonus multiplied by surrender value factor for bonus).

How do I check my bonus claim?

You can check the applicable NCB by referring to the no claim bonus slabs. The NCB will be mentioned on the webpage during the online car insurance renewal process. If you renew your car insurance policy with a different insurer, you must mention the NCB earned in your previous policy.

How to calculate LIC surrender value?

The surrender value of the policy can be calculated as: {Basic sum assured (number of premiums paid/ total number of premiums payable) plus total bonus received} multiplied by X, where X is the surrender value factor.

What is the rate of bonus?

The Payment of Bonus Act, 1965 provides for a minimum bonus of 8.33 percent of wages. The salary limited fixed for eligibility purposes is Rs. 3,500 per month and the payment is subject to the stipulation that the bonus payable to employees drawing wages or salary not exceeded to Rs.

How to check LIC bonus status?

To check accrued bonuses on your LIC policy online, follow these steps:
  1. Step 1: Log in to your LIC portal account.
  2. Step 2: Navigate to the 'Basic Services' section and click 'Proceed. ...
  3. Step 3: Select 'Policy Status' and choose the policy number you want to review.

How much money will I get in a Jeevan-Anand policy?

125% of the Base Sum Assured or 7 times the annual premium amount, whichever is higher at the time of death. The final additional bonus and simple reversionary bonuses are added to this amount.

How is guaranteed addition I calculated?

Guaranteed$ Addition (GA) is equal to a fixed Guaranteed$ Addition Rate multiplied by the sum of all premiums paid. Example: If you choose a policy term of 12 years the GA rate will be 10% p.a. If your Annual Premium is `50,000, Guaranteed Additions will be as below.

How to calculate LIC policy bonus?

1000 Sum Assured for the plan in question for that year. For instance, let us say that a new endowment plan has Rupees 45 on a sum assured of Rupees 1000 for a tenure of 21 years. So suppose the policy has a sum assured of Rupees 10,00,000. So, (45/100) x (10,00,000) = Rupees 45,000 will be the bonus for that year.

How does bonus payout work?

Bonuses are commonly paid in cash and included with your paycheck for that week or in a separate check. However, bonuses can also be paid out in non-cash form. For a holiday bonus, an employer might give out gift cards or tangible gifts, like a fruit basket or spa items.

What is a bonus declaration?

Reversionary Bonus is the bonus declared every year as a percentage of (Guaranteed Maturity Benefit*/Sum Assured#/Benefit Sum Assured^ + sum of all earlier declared Revisionary Bonuses). It is payable on death of the life assured or maturity of the policy.

Can I withdraw bonus guaranteed addition in LIC?

No, one cannot pre-maturely withdraw the accumulated bonus guaranteed addition. It is only paid out with the promised sum assured on maturity and death. However, in the case of a surrender, LIC will pay out the bonus amount that has accrued till the date of policy surrender.

How to check LIC jeevan anand policy bonus?

The accrued bonus can be calculated using the LIC Jeevan Anand Bonus Calculator. Simple reversionary bonuses and final additional bonuses are the two types that are added to the final payable amount. These are not guaranteed additions and depend entirely on the profits earned by LIC in a financial year.

Can I cancel LIC policy and get money back?

Surrender Value

This is the value which is the amount payable to you should you decide to discontinue the policy and encash the same from LIC. Surrender value is payable only after three full years premiums are paid to LIC. More over if it is a participating policy the Bonus get attached to it as per prevalent rules.

How much money will I get if I surrender my policy after 3 years?

Guaranteed Surrender Value

As stated above, the policyholder can surrender the LIC policy after 3 years, provided the policy has been in force for at least 3 years. The LIC surrender value is 30% of the paid premium amount.

How to know LIC maturity amount?

How can I check my LIC policy maturity amount?
  1. Log in to the LIC Customer Portal as described above.
  2. Navigate to the section detailing your individual policies.
  3. Select the policy you wish to inquire about.
  4. View the policy summary, which should include the maturity amount, or use the maturity calculator feature if available.