News From Press LIC lines up bonanza for the faithful, 17 crore policyholders to get 6% bonus

LIC lines up bonanza for the faithful, 17 crore policyholders to get 6% bonus

Sep 3, 2016

Life Insurance Corp. intends to dole out a bonus of up to 6% of the sum assured to policy holders this year on its 60th anniversary, a move that would help arrest sliding market share in the face of intense competition from private sector rivals and , a minor windfall for 17 crore policyholders.

The country's largest insurance company today announced a onetime reversionary bonus for its policyholders of with-profit policies.

Click here to read more>>

Like what you are reading?

Login to get instant access to this article and many other such articles on business development, success stories and industry updates.

Don't worry ... it's FREE!

Have a query or a doubt?
Need a clarification or more information on an issue?
Cafemutual welcomes all mutual fund and insurance related questions. So write in to us at newsdesk@cafemutual.com

Latest Articles

7 best practices to keep your money safe from fraudsters

How can debt PMS fit in your investment portfolio?

Budget 2024: Will the indexation benefit on debt mutual fund be back?

Staggered bets in multi-asset MFs look apt amid bullish sentiment

India's wealthy opt for term insurance policies worth Rs 5-20 crore: Report

Simplify investing: Allocate bulk of core portfolio to broad index fund

Sensex tops 80,000 level for the first time, what should be MF investors strategy?

Mutual Funds: What are passive funds and how do they simplify equity investing?

How does inflation affect your savings & investments?

Lights, Camera, Finance: 4 must-watch movies for money lessons

Click to clap

Disclaimer: Cafemutual is an industry platform of mutual fund professionals. Our visitors are requested to maintain the decorum of the platform when expressing their thoughts and commenting on articles. Viewers are advised to refrain from making defamatory allegations against individuals. Those making abusive language or defamatory allegations will be blocked from accessing the web site.

1 Comment

Bhushan · 7 years ago `

Wow! 6% bonus by LIC. On policies issued prior to 31.03.1986:

Economic Times (ET) reported: Life Insurance Corp intends to dole out a bonus of up to 6% of the sum assured to policy holders this year on its 60th anniversary.

6% bonus is payable only for policies in force prior to 31-03-1986. Even if you are disciplined enough paying premium for the last 30 years, still the bonus would not be paid to you on declaration. LIC will pay this on your death or maturity.

Only insurance plans of LIC with the suffix ‘With Profits‘ are eligible for allocation of annual reversionary bonuses. Kindly note that except a few plans, the 2016-17 bonus rates on almost all other old plans of LIC are same as the bonus rates of 2015-16.

ET headline says: LIC lines up bonanza for the faithful, 17 crore policyholders to get 6% bonus.

Does it mean that 17 crore people got policies from LIC before 1986 and are regularly paying premium for the last 30 years!

Website of LIC does not carry bonsu information on its website so far: https://www.licindia.in/Customer-Services/Bonus-Information

More than 2,07,000 of your industry peers are staying on top of their game by receiving daily tips, ideas and articles on growth strategies. Join them and stay updated by subscribing to Cafemutual newsletters.

Fill in the below details or write to newsdesk@cafemutual.com and subscribe to Cafemutual Newsletter now.

POLL

MORE POLLS

As regards Portfolio Management Services (PMS), what is your status

Actively selling PMS

Not selling PMS but considering it seriously

Not selling PMS and not considering it either

EVENTS FORUMS