lic bonus information
The LIC of India has announced its new bonus rates for the financial year 2019-20 and 2020-2021. LIC policyholders can get the latest bonus rates and other information by sending an SMS in the format of ‘ASKLIC REVIVAL’ or ‘ASKLIC BONUS’ to 56677. Also, policyholders can request for a loan against their IC policy or nominee information by sending an SMS with the format ‘ASKLIC LEND’ to 56677.
The LIC also offers several types of policies that offer bonuses. These policies come in different types, with the most common being the final maturity bonus. The LIC also pays a lump sum on the policy’s maturity. The bonus accrues on the policy’s account and is paid out at maturity, or when the policy is repaid due to death. Some LIC policies allow policyholders to surrender the insurance at any time, in which case the accrued bonus is paid out. However, the accrued bonus does not compound, and is known as a simple reversionary (or “reversionary”) type of bonus.
LIC policies pay bonuses for long-term service. The LIC bonus is paid on the basis of the Sum Assured, and is a percentage of the premiums a policyholder has paid. This is very important for those who have been with the company for several years. Those who are in this position may be surprised at the amount of money that they will receive after the end of their policies. After all, it’s a good feeling to know that the company appreciates its loyal customers.