LIC of India Bonus declaration

LIC of India has declared the Bonus accrued for various policies for the year 2008-09. The valuation was done on 31 March 2009 and will be effective from 1 January 2010 till the next valuation date.

A total of 17621.71 crores is said to be distributed to its Policy holders as Bonus’ against a figure of Rs.15730.72 crores in the previous year.

The Bonus declared for various plans are as follows:

Note that all values are in Rupees for every 1000 Sum Assured (both Reversionary and Interim bonus combined). For example, if the Sum assured for an Endowment plan is Rs.10 lakh with a term of 12 years, the bonus declared as per the value below (38) will be Rs.38000.

Endowment policy

Whole life cover – 70

Policy term of 10 years and less – 34

11 to 15 years – 38

16 to 20 years – 42

21 and above – 48

Money back Policy

12 to 15 years – 32

20 years – 39

25 years – 44

Jeevan Surbhi policy

Policy term of 15 years – 34

20 years – 41

25 years – 50

Jeevan Anand (149)

10 years and less – 34

11 to 15 years – 37

16 to 20 years – 41

21 and above – 49

Jeevan Rekha (152)

10 years and below – 49

11 to 15 years – 44

16 to 20 years – 40

21 and above – 34

Jeevan Tarang (178)

10 years – 40

15 years – 44

20 years – 44

LIC Jeevan suraksha 1 (147)

5 years and less – 21

6 to 10 years – 27

11 to 15 years – 31

16 and above – 35

LIC Child career plan (184)

11 to 15 years – 34

16 to 20 years – 38

21 and above – 40

Child future plan (185)

11 to 15 years – 36

16 to 20 years – 40

21 and above – 42

In addition to the Reversionary and Interim bonuses’ there is also a Loyalty addition to some popular plans (figures in Rs for every 1000 Sum Assured)

Jeevan Shree (112)

5 to 9 years – 75

10 and above – 150

New Jeevan Shree (151) – 5 and above – 45

Komal Jeevan – Any policy term – 20

Note: A Reversionary Bonus is an amount distributed from the surplus profits of a Life Insurance firm among its Policy holders.