(Last Updated On: October 30, 2022)
LIC Bonus Rates 2021-22 (as per 2021 March Valuation) – All details with charts and illustrations.
Life Insurance Corporation of India (LIC of India) has declared the latest bonus rates for the valuation period 1st April 2020 to 31st March 2021. The point to remember is that LIC shares its valuation surplus or profit to the policyholders in the form of Bonus and Loyalty Additions. Bonuses as per the rates declared will get added to the respective policy accounts as a valuation surplus for the current financial year. The sum total of all the declared bonus amount thus added to the policy account – in with-profits policies – will become payable at the time of exit from the policy by way of death or maturity. On the other hand, loyalty additions are one-time payment that becomes payable at the time of exit by way of death or maturity. And the loyalty additions declared now will reflect in the maturity benefit of policies maturing from 1st January 2022.