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Additional bonus to LIC policyholders

MUMBAI: The Life Insurance Corporation of India today decided to pay bonus of Rs. 10,388 crores to policyholders and also pay Rs. 547 crores as a yearly dividend to the Central Government. Following actuarial valuation as on March 31, 2004, the surplus amount stood at Rs. 10,935 crores, out of which 95 per cent (Rs. 10,388 crores) was being distributed as bonus to policyholders and the balance 5 per cent (Rs. 547 crores) as a year dividend the Government, the LIC said in a release here. The bonus rates for whole life policies is Rs. 80 per assured sum of Rs. 1,000 and for endowment type policies it varies from Rs. 51 to Rs. 57, the release added. — PTI

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