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I have a lic policy (New Jeevan Anand) with an annual premium of 42000. Policy term is 26 years and basic sum assured is 10 lacs.

I wanted to reconfirm my understanding on few terms which are often tossed by insurance agents. Terms like:

1) Simple Reversionary Bonuses and

2) Final Additional Bonus

Please help me in calculating the above two in my case. 

asked in Insurance by (1.8k points)

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1 Answer

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There is no fixed formula to calculate bonus of LIC policies. LIC declared bonus every year and that amount gets acrrued to your policy benefits, which will be given to you on maturity of policy / death claim, without interest.

Look at the official website of LIC or register your policy on LIC website. Check more at http://www.investmentkit.com/articles/2012/02/how-to-view-lic-policy-details-online/

Hope it will help you.

Admin
answered by (48.8k points)

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