Bonus is a amount given to the policy holders apart from their maturity or death benefits. In india the highest bonus amount is given by the LIC of india. IRDA specifies the regulation for paying the bonus to the policy holders. 90% of the surplus amount got from the profit should be returned to the policy holders in the form of bonus. And the profit of an insurance company directly depends on the numbers. Since LIC of india is having more than 16 crore policy holders the amount of bonus given will be very high. Sometimes this may become more than the maturity sum assured. For example a person has taken a policy having maturity amount of rupees 500000 for a term of 20 years an if the bonus is calculated at an average of rupees 42 per thousand sum assured then the total bonus amount accrued for him at the end of 20 years would be 20 x 500 x 42 = 420000 which is just 80000 short from the maturity amount. And the total amount received by the policy holder will be 500000 + 420000 = 920000. That will be really great.
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