The Hindu Business Line : LIC bonus for 2005-06

The bonus depends on the term of the policy and is higher for long-term policies. Whole life policyholders will receive Rs 66 per thousand sum assured. In the case of endowment policies it will range from Rs 40-46, and for the money back and anticipated endowment policies it will be Rs 37 (term of 20 years) and Rs 42 (term of 25 years), respectively.

LIC has also declared a final (additional) bonus and loyalty addition for policyholders who have kept their long-term policies in force. The rate of bonus is up to Rs 1,680 per thousand sum assured depending on the term and sum assured.

In the financial year 2005-06, LIC reported a surplus of Rs 12,404.82 crore after valuation. While 95 per cent of the surplus (Rs 11,784.58 crore) will be distributed as bonus to policy holders of `with profit policies', the balance of 5 per cent (Rs 620.24 crore) will go to the Government.

LIC had 18.64 crore policies in force as on March 31, 2006.

More Stories on : Bonus Announcements | Life Insurance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Remittances up to $ 50,000 allowed

Rupee gains against dollar

Union Bank to take stake in Bank of India insurance venture

Motor insurance pool faces technical glitches

RBI to hold meeting on loans to farmers, small enterprises

South Indian Bank branch in Lucknow

India Infrastructure gets govt guarantee to raise Rs 5,000 cr

Training on CorpXpress services

Vijaya Bank plans to expand `DD Shoppe'

Bond prices end almost flat

Infrastructure: Panel to look into long-term funding

Call rates unchanged

T-bills fully subscribed

SBI launches gold debit card

LIC bonus for 2005-06

Financial inclusion project in Puducherry