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LIC Bonus Rates for 2015-2016

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Reversionary Bonus is declared per thousand of the Sum Assured Amount in each financial year by LIC. It will be be paid at the end of maturity period or on the death of the policyholder, whichever is earlier.

Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015

 

Reversionary Bonus Rates declared as a result of valuation as at 31st March 2015
Sl No. Plan Term* Bonus Rates (Per `
      1000/- Sum Assured)**
      2015
1 Whole Life Type Plans (2,5,6,8,10,28 – before conversion,35,36,37,38,49,77,78,85 & 86)   70
2 Endowment Type Plans (14,17,27 – after conversion, 28 -after conversion,34,39,40,41,42,50,54,79,80,81,84,8 7,90,91,92,95,101,102,103,109,110 & 121) < 11 34
    11 to 15 38
    16 to 20 42
    > 20 48
3 New Endowment Plan (814) 12 to 15 38
    16 to 20 42
    > 20 48
4 Single Premium Endowment Plan (817) 10 to 15 41
    16 to 20 46
    > 20 51
5 Money Back Assurances Plans (75 & 93) 20 39
    25 44
6 New Money Back Plans (820 & 821) 20 39
    25 44
7 Jeevan Surabhi Plans (106,107 & 108) 15 34
    20 41
    25 50
8 Jeevan Mitra (Double Cover Plan), Jeevan Saathi (88,89) 15 40
    16 to 20 44
    > 20 48
9 Jeevan Mitra (Triple Cover Plan) (133) < 16 40
    16 to 20 45
    > 20 50
10 Limited Payment Endowment Plan (48) <16 40
    16 to 20 44
    > 20 49
11 Limited Premium Endowment Plan (830) 12 40
    16 45
    21 50
12 New Children Money Back Plan (832) 13 to 15 38
    16 to 20 42
    > 20 48
13 Jeevan Lakshya Plan (833) 13 to 15 41
    16 to 20 45
    > 20 49
       
14 Jeevan Anand Plan (149) 5 38
    6 to 10 38
    11 to 15 41
    16 to 20 45
    > 20 49
15 New Jeevan Anand Plan (815) 15 41
    16 to 20 45
    > 20 49
16 Jeevan Rekha Plan (152) < 11 49
    11 to 15 44
    16 to 20 40
    > 20 34
17 Jeevan Anurag Plan (168) < 11 38
    11 to 15 40
    16 to 20 42
    > 20 44
18 New Jeevan Suraksha – I Plan (147) < 6 21
    6 to 10 27
    11 to 15 31
    > 15 35
19 New Jeevan Dhara – I Plan (148) < 6 20
    6 to 10 25
    11 to 15 28
    > 15 32
20 Jeevan Tarang Plan (178) 10 47
    15 48
    20 49
21 Jeevan Madhur Plan (182) < 11 21
    11 to 15 26
22 Child Career Plan (184) 11 to 15 34
    16 to 20 38
    > 20 40
23 Child Future Plan (185) 11 to 15 38
    16 to 20 42
    > 20 44
24 Jeevan Bharti Plan (160) 15 38
    20 40
25 Jeevan Shree – I Plan (162) 10 44
    15 45
    20 48
    25 52
       
26 Jeevan Nidhi Plan (169) < 11 38
    11 to 15 40
    16 to 20 42
    > 20 44
27 Jeevan Pramukh Plan (167) 10 47
    15 48
    20 51
    25 55
28 Jeevan Amrit Plan (186) 10 to 15 30
    16 to 20 30
    > 20 30
29 Jeevan Bharti – I Plan (192) 15 29
    20 31

Note:
* Plan – 149 & 152 : Premium Paying Term in place of Term
Plan – 178: Accumulation Period in place of Term
Plan – 147,148 & 169: Deferment Period in place of Term
** Plan – 147 & 148: Bonus rates are per thousand Notional Cash Option
Plan – 182: Bonus rates are per thousand Death Benefit Sum Assured Plan – 186: Bonus rates are per thousand premium paid

https://www.licindia.in/getattachment/Bottom-Links/Public-disclosure/2015-16/December-2015/L-42_Valuation_Basis_Individual_Annexure.pdf.aspx

 

Final Additional Bonus (FAB) For LIC’s Policies For Year 2015-16

Final Additional Bonus (FAB) is an additional bonus which is paid in participating policies, in addition to the simple reversionary bonus.

Final Additional Bonus is paid only once in the policies resulting into claim by maturity or discounted claim (Surrender of policies with one year preceding the date of maturity) or death claim, during the period 01/01/2016 and ending 9 months from the date of next valuation (ie 31/12/2016)  at the rate declared by LIC. Final additional bonus depends upon the sum assured in policy and term of the policy. This bonus is paid provided the policy is in force for full sum assured till the date of maturity or discounted claim or date of death.

 

All the plans of LIC in which Final additional Bonus (FAB) is payable are divided into 5 major group according to their eligibility for FAB.

Final Additional Bonus in Plans of Groups 1, 2, 8, 9 and 10

  • group 1 are Whole Life type (Plans 2, 5, 6, 8, 10, 28 (Before Conversion), 35, 36, 37, 38, 49,77,78, 85 & 86),
  • in group 2 are Endowment type (Plans 14, 17, 27 (After Conversion), 28 (After Conversion), 34, 39 40, 41, 42, 50, 54, 79, 80, 81, 84, 87, 90, 91, 92, 95, 101, 102, 103, 109, 110 & 121),
  • in group 8 are Jeevan Mitra (Double Cover plan), Jeevan Saathi (Plans 88 & 89),
  • in group 9 is Jeevan Mitra (Triple Cover Plan: Plan 133 ) and
  • in group 10 is Limited Payment Endowment (Plan 48)
Amount of Final (additional bonus) per Rs 1000 Sum assured for policies with Sum Assured
upto Rs 25000 25001 – 50000 50001 – 199999 Rs 2 Lakh and above
Policy Terms in respect of Maturities,Discounted maturities, number of year’s premium paid in repect of claims by death
15 0 0 10 20
16 0 0 15 25
17 0 10 20 30
18 10 15 25 35
19 15 20 30 50
20 20 25 40 70
21 25 30 50 100
22 30 50 80 150
23 35 100 150 250
24 70 150 230 350
25 170 250 330 450
26 270 350 430 550
27 370 450 540 670
28 470 550 650 790
29 570 650 760 910
30 670 750 900 1100
31 800 900 1100 1300
32 950 1050 1300 1550
33 1100 1200 1550 1800
34 1250 1350 1700 2050
35 1400 1500 1850 2300
36 1550 1650 2050 2550
37 1700 1800 2250 2800
38 1850 1950 2500 3050
39 2000 2100 2750 3300
40 2150 2500 3000 3550

Final Additional Bonus in Plans of Group 5

Plans in group 5 are Money Back Assurances (Plans 75& 93)

 

Amount of Final (additional bonus) per Rs 1000 Sum assured for policies with Sum Assured
upto Rs 25000 25001 – 50000 50001 – 199999 Rs 2 Lakh and above
Policy Terms in respect of Maturities,/ Duration elapsed in repect of claims by death,  Discounted maturities, number of year’s premium paid in repect of claims by death
Below 15 0 0 0 0
15-19 0 0 15 20
20 0 10 30 40
21 – 24 10 20 30 40
25 40 150 175 225

Final Additional Bonus in Plans of Group 7

Plans in group 7 are Jeevan Surabhi (Plans 106, 107 & 108)

Amount of Final (additional bonus) per Rs 1000 Sum assured for policies with Sum Assured
upto Rs 25000 25001 – 50000 50001 – 199999 Rs 2 Lakh and above
Policy Terms in respect of Maturities,/ Duration elapsed in repect of claims by death
Below 15 0 0 0 0
15-19 0 0 20 30
20 40 50 75 100
21 – 25 40 80 100 125

Final Additional Bonus in Plans of Group 14

Plans in group 14 is Jeevan Anand (Plan 149)

Amount of Final (additional bonus) per Rs 1000 Sum assured for policies with Sum Assured
RS 1 lakh  to Rs 2 Lakh Rs 2 Lakh and above
Terms in respect of Maturities, Discounted maturities, nunmber of year’s premium paid in repect of claims by death
Below 15 0 0
15 10 20

 

Final Additional Bonus in Plans of Group 24

Plans in group 7 is Jeevan Bharti (Plan 160)

Amount of Final (additional bonus) per Rs 1000 Sum assured for policies with Sum Assured
Rs 50000  to Rs 2 Lakh Rs 2 Lakh and above
Terms in respect of Maturities, Discounted maturities, nunmber of year’s premium paid in repect of claims by death
Below 15 0 0
15 25 40

 

Final Additional Bonus (FAB) are only available for policies which are participating in profit. It is totally depend on surplus made by LIC of India. Mostly the policies having more than 15 years of policy term are eligible for FAB. Quantum of Final additional bonus also depend upon the sum assured in policy, higher the sum assured more the FAB.

If you have any queries related to this article or any other personal finance query ( Investment, Taxation etc), please comment below

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