How bonuses impact life insurance policy returns

Life Insurance Corporation (LIC) recently announced a one-time bonus for policies in force as of March 31, 2016, and existing on or after September 1, 2016. The amount will range from Rs 5 to Rs 60 for every Rs 1,000 of the sum assured (SA), depending on the policy tenure. So on a Rs 3-lakh policy, if the bonus is Rs 5 or Rs 60, the amount works out to Rs 1,500 or Rs 18,000 respectively.

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