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LIC Bonus Rates (2022-2023): Complete List of Bonus Rates for LIC Policies

Dev Ashish

LIC has declared the LIC bonus rates (year 2022–23) for all LIC policies. The declared bonus rates are applicable for the for the valuation period 1st April 2021 to 31st March 2022. These bonus rates are based on March 2022 valuation done by LIC.

If you have purchased any of the traditional LIC plans like endowment or moneyback or similar plans where bonus gets added each year and want to know about LIC Bonus Chart or LIC Bonus 2022-23, then you will find this article useful as it has the  complete detail about latest LIC Bonus Rates for 2022-2023 useful. The Bonuses and Loyalty Addition, that LIC announces for various policies area coming from its valuation surplus.

Related Reading – How to Calculate LIC Bonus Amount on your LIC policies?

So without any further delay, let’s see what are the bonus rates for your LIC policy investments and how it will impact your LIC policy returns and the bonus value of all LIC policies.

LIC Bonus Rates for 2022-2023 (Complete Updated List)

First, let’s see the LIC Bonus Rates (2022-23) for Active Plans which are still available for new investments:

Now, let’s see the LIC Bonus Rates (2022-23) for Old Plans which are not available for new investments but existing policies are still running:

That was a lot! Isn’t it? So many policies with so many options and sub-options with different sum assured and different bonus rates. But hopefully, that gives you the recently declared latest LIC Bonus Rates for 2022-23 in one place.

LIC bonuses depend on factors like type of policy, policy term, and sum assured. So when you buy any traditional LIC policy which is a ‘with profit’ product, then a major part of your LIC policy returns will depend on the rate of bonus declared by LIC for your policy.

How is LIC Bonus Calculated (2023)?

The amount of LIC bonus that you get on your policy depends on the bonus rate declared per Rs 1000 of Sum Assured of your policy. So for example, if LIC declares Rs 42 as bonus per Rs 1000 sum assured of your policy of Rs 10 lakh for 20-years policy term, then the bonus calculation for the year will be as below –

(Rs 42 x Rs 10,00,000)/Rs 1000 = Rs 42,000

But this bonus will not be paid to you immediately. Remember LIC bonuses are calculated and accrue each year. But you only get the LIC bonus at the time of policy maturity or if there is a death claim on the policy. Not before that.

Types of LIC Bonuses (2023) Declared by LIC

The bonuses declared by LIC are not freebies or something extra that many people believe it to be. These just come out of the valuation surpluses on LIC’s policyholders’ funds.

There are basically 3 types of LIC bonuses –

Once again remember that LIC bonuses are declared each year, but they simply accrue (and don’t compound) and are only paid at the end of the policy term on maturity.

And let’s also look at the final additional bonuses declared by LIC recently.

LIC Final Additional Bonus (FAB) Rates (2022-2023)

As explained earlier, Final Addition Bonus (FAB) is a one-time extra bonus paid at the maturity of policy and is paid at the time of final payment of the policy.

The minimum term required for a policy/policyholder to become eligible for the Final Additional Bonus as per the current valuation is 15 years. In general, Final Additional Bonus rates increase with the increase in the sum assured and term of the policy.

Here are the latest Final Additional Bonuses declared by LIC for 2022-2023 –

So that was all about LIC Bonus Rates (2022-2023). This was all the data that was available under the LIC Bonus rate list for 2022-2023 in India.

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