Buying your LIC policy for the first time? Don’t know how to check vested bonus of lic policy online? In this article I will be sharing the simple step by step guide so that you can first register your LIC policy online and the check bonus amount accumulated online.
What is Accrued Bonus / Vested Bonus
Accrued Bonus is nothing but the bonus amount payable after maturity if the lic policy. Although LIC of India provide policies to provide life insurance, but at the end of maturity they are also giving a guaranteed maturity value in return.
Now, this return on investment is nothing but the various types of bonus amounts accumulated on your money as per the sum assured and premium payment. One of them is Accrued bonus which has its own calculation.
Calculate accrued bonus in lic policy
The calculation is very simple indeed. You have to first find out the bonus rate of LIC policies. You will easily find out the lic policy bonus rate of the current fiscal year by visiting LIC of India official website.
E.g. the bonus rate of your Jeevan Anand policy is Rs 40 which means for every sum assured amount of Rs 1000 LIC of India will provide a bonus of Rs 40.
So, if you have purchased a LIC policy of sum assured 5,00,000 or 5 Lakh then you will get bonus amount of 20,000 after maturity. This bonus amount will be payable only after the policy maturity.
Steps to check vested bonus in lic policy Online
Now you might have paid couple of LIC policy premium already and now want to know how much accrued bonus you have earned so far. In that case you have to follow the below step by step guide.
Step 1: First of all you have to register with LIC of India website and create your online account with the information like policy number, mobile number, email id etc.
Step 2: After that you have to login to your LIC e services account online. After login to your account, look for policy status option in the left side. Click on the same.
Step 3: Here you will find out the policy or policies you are eligible to get LIC bonus amount. Now besides the policy details look for the last column named vested bonus.
Step 4: Click on the link and it will show you the accumulated bonus amount for that particular lic policy.
Generally you may not find anything as the bonus amount will update only at the end of policy maturity period or you can say the near to policy maturity dates. In this case, you can see the bonus amount is showing as zero only, as I have started this lic policy just few years back and it has time to get matured.
Other ways to check lic policy bonus online
Besides this, you can also visit to your nearest LIC of India branch and ask them to provide the insurance policy statement where you will find out the information about accrued bonus.
You can also use the LIC SMS facility to get the various information in your smartphone.
Did you try to know how much bonus has been accumulated in your LIC policy? If you know the various bonus rate of every year you will do the calculation your own only. But everything is indicative. In general you can expect a return around 5% – 6% maximum in long run from your lic policy considering various bonuses like Guaranteed Addition (GA), Loyalty Addition (LA), Final Additional Bonus (FAB) as per your policy eligibility. Whatever it is, do you find this article about steps to check vested bonus in lice policy online useful? If so, please share with your friends.