LIC Bonus Charges -2022 – 23 |Defined with Charts and Illustrations

Loyalty additions are paid as a one-time profit in some insurance policies in lieu of a easy reversionary bonus (SRB). The primary distinction is that, not like the easy reversionary bonus, which turns into part of the coverage advantages as and when it’s declared, loyalty additions shall be obtainable to the policyholder solely on the time of exit from the coverage. In different phrases, declared loyalty additions turn into relevant solely to the insurance policies getting exit, by means of demise, give up, or maturity, within the declared yr (topic to the circumstances of the plan).