LIC Bouns Rate : 2006-07
LIC DECLARES VALUATION RESULTS FOR 2006-07
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Valuation Surplus grows by 22% to Rs. 15127.21 crores.
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Higher Bonus under all With Profit Policies.
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Bonanza for Jeevan Tarang and Jeevan Anurag Policyholders.
- Final Additional Bonus increased.
Higher Bonus to Policyholders Life Insurance Corporation of India has declared the Valuation results for the financial year 2006-07 and has finalized the rates of bonus for With Profit policies consequent to this valuation. The valuation has disclosed a surplus of Rs. 15,127.21 crores which compared to the Rs. 12,404.82 crores for 2005-06 represents a growth of 22%. 95% of the surplus amounting to Rs. 14,370.85 crores has been allocated to With Profit policyholders and the balance 5% amounting to Rs. 756.36 crores has been allocated to the Central Government as Government Share. The highlight of this Valuation is that Simple Reversionary Bonuses for all With-Profit policies have been increased.
Reversionary Bonus Rates:
Whole Life Type Plans: A higher bonus of Rs.70.00 per thousand sum assured has been declared for Whole Life Type Plans, compared to Rs. 66.00 of previous financial year. There is a bonanza for Jeevan Tarang and Jeevan Anurag Policyholders.
Endowment type of plans: Under Endowment type of assurances including Jan Raksha:
a) Rs.48.00 ( Rs.46.00) per thousand sum assured under Assurances with policy term more than 20
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Anticipated Endowment and Money Back Plans :
a) Rs.44.00 (Rs.42.00) per thousand sum assured under 25 year term policies
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Jeevan Surabhi :
a) Rs.50.00 (Rs.47.00) per thousand sum assured under 25 year term policies
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Note: To read full Press Release please visit us at http://www.savingwala.com
Jeevan Madhur- Micro Insurance Plan Bonus has also been declared for Jeevan Madhur a micro-insurance plan that was launched on 28.09.2006. Under this plan, the bonus declared for policies with term of 11 to 15 years is Rs.25.00 per thousand sum assured
Loyalty AdditionsLoyalty Additions have been declared in the range of Rs. 20 to Rs. 150 per thousand sum assured under Jeevan Shree, New Jeevan Shree, Bima Nivesh – 2002, Nav Prabhat,Jeevan Samriddhi and Komal Jeevan Plans.Loyalty additions are also payable on death.
Note: To read full Press Release please visit us at http://www.savingwala.com
