How To Check Accrued Bonus On LIC Policy?

What Are Accrued Bonuses in LIC Policies?

Accrued bonuses on LIC policies are the additional benefits earned over time. These bonuses accumulate according to the insurer's profitability and are regularly credited to the policyholder's account. Generally, these accumulated benefits are disbursed to the policyholder upon maturity of the policy or added to the death benefit in the event of the policyholder's demise.

The Life Insurance Corporation of India decides on these bonuses based on their performance and profits during a financial year.

How to Check Accrued Bonuses on LIC Policies Online?

To check accrued bonuses on your LIC policy online, follow these steps:

Step 1: Log in to your LIC portal account.

**Note: If registering for the first time, click ‘New User’ to create an account on the mobile application or the LIC online portal. Select a username and password. You are also required to fill in other details, such as an address and date of birth.

Step 2: Navigate to the 'Basic Services' section and click 'Proceed.'

Step 3: Select 'Policy Status' and choose the policy number you want to review.

Step 4: Click 'Basic Information' to view accrued bonuses and guaranteed additions details.

What Are Vested Bonuses in LIC?

A Vested Bonus in LIC is an additional benefit insurers provide to policyholders, calculated based on the insurer's financial standing. This bonus enhances the policy's value and is paid out upon maturity or in the event of the policyholder's death. In case the policy is surrendered before maturity, the vesting bonus contributes to the paid-up value (reduced sum assured), provided the policy has fulfilled a specified duration

How to Register for LIC’s e-Services?

To use the LIC e-Services, customers must register on LIC’s online customer platform to use the services mentioned below. Here are the steps to do so.

Step 1: Visit the Customer Portal on LIC's website and click on New User.

Step 2: Choose User ID and password. Click on Submit.

Step 3: Login to your account and choose Basic Services to add your policy.

Step 4: To access LIC’s premier online services, fill up the Registration form and print it.

Step 5:Sign this form; then scan it with the PAN card or passport.

Step 6: Upload the scanned images and click on Submit Request.

Once a Customer Zone Official verifies the details, you will receive an acknowledgement by email or SMS

Key Points to Remember While Checking Policy Details:

• Ensure the policy number is valid and in your name.

• Include paid premiums without service tax in calculations.

• Enter date of birth in DD/MM/YYYY format.

• Maintain an active mobile number and email for notifications.

Wrapping It Up:

LIC's online platform simplifies checking accrued bonuses and other policy details without needing branch visits. Registering on the portal ensures easy access to policy information and services. One should register with the portal, add policies, and use the service to the fullest. Now, you can check the accrued bonus on the LIC policy in one go.

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