Whether loyality addition is paid like reversionary bonus in LIC's Jeevan saral policy?
Whether loyality addition is paid like reversionary bonus in LIC's Jeevan saral policy?
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Reversionary bonuses
Based on the performance of the company, the insurance company declares a bonus for policy holders every year. You can get this amount after the end of the term. Reversionary bonuses are declared after the completion of the guaranteed bonus period. This is offered purely at the discretion of the insurance company and depends on the profits made that year.
Loyalty Addition
Depending upon the Company’s experience with regard to policies issued under the insurance plan the policy will be eligible for loyalty Additionon death during the last policy year or on the Life Assured surviving the stipulated date of maturity at such rate and on such terms as may be declared by the company.
Read here about LIC's Jeevan Saral - http://www.slideshare.net/tsrajan/jeevan-saralQuote:
Originally Posted by blsimp
I want to know that in t-165 after 10years or more loyality addition will be more than bonues or less than bonus.It is sold by some agents projecting 7.5% to 10% returns as in post office Reccuring deposit.Quote:
Originally Posted by blsimp
Nobody can't predict future returns but if you see the past loyalty bonus of LIC plans (see the attached pdf)Quote:
Originally Posted by blsimp
Jeevan Shree* (plan 112) - 5 to 9 Years Term => 70 (Loyalty Addition per 1000 sum assured )
- 10 Years or more Term => 150 (Loyalty Addition per 1000 sum assured )
* No info about Jeevan Saral in the LIC Bonus Rates.
So if we assume that LIC Jeevan Saral will also give similar return then you may get upto 15% (as per above example).
LIC Bonus Rates 2008-09 - http://www.licindia.in/pages/Bonus_rate2008-2009.pdf