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What is a vested bonus in an LIC policy?

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Shailesh Kumar, Co-founder, Insurance Samadhan verified
Answered on January 16,2023

Dear 

LIC declares bonus each year which gets attached to Policy but one can not use it till maturity 

For example :

You have sum assured of Rs 10 lakh for 20 years endowment plan then you shall get a bonus of Rs 30 per 1000 of sum assured . which means you will get bonus of Rs 30000 on first policy anniversary . But this Rs 30000 would remain same till maturity . In same way you shall get Rs 30000 for each policy year . 

After 20 years , you shall receive Rs 10 lakh plus Rs 6 lakh i.e Rs 30000 * 20 years . This 30000 each year is called vested bonus .

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