Life Insurance Corporation of India has announced a bonus for its policyholders for 2002-03. LIC has recorded a surplus of Rs 9,733 crore, out of which Rs 9,246 crore was being distributed as bonus to policyholders, while the balance Rs 487 crore was the yearly dividend to the government, a release stated. LIC has also declared final additional bonus and loyalty addition to give add-on value to those policyholders who keep their policies in force. The rates of final (additional) bonus are up to Rs 1,400 per thousand sum assured depending upon term and sum assured of the policy. LIC has also announced a reversionary bonus of Rs 90 per thousand sum assured for whole life policies.
