How to check accrued bonus on LIC Policy online

Life insurance corporation of India is called as a giant in the life insurance segment of India with a market share of whooping 70 percent plus in number of policies and first year premium. When it comes to insurance business its all about matter of trust and dependability and common public of our country has shown full faith in the only one government backed public sector life insurer of India which is LIC and made it super big and successful enterprise with passing time.

Although the traditional agency model of solicitating business and selling insurance policies have worked quite well for LIC since past many decades but with the increasing use of internet and smartphones in this digital age customers do not want to depend on agents or visit branch for normal policy servicing or knowing the details about their policy.

Knowing the change in customer behaviour the regulator (IRDAI) and government has also made mandatory provisions for opening of EIA (E-insurance account) and instructed insurers to facilitate opening of the same. All insurance companies including LIC has taken note of the same and started facilitating EIA and also invested and developed a suitable online infrastructure for selling policies and servicing customers so that tech-savvy millennial consumers can purchase a new product, pay premiums, raise service requests, keep a track on all insurance policies in one go and check other details within the comfort of their home and at the click of the button.

In this current article we will discuss the step wise procedure what all things and facilities a customer can get in the online portal and mobile application of LIC with a special emphasis on how to check accrued bonus on LIC policy online.

  • If you are a first-time user, you need to create an online account by registering or signing up on the online portal/mobile application of LIC. You need to select a user name and password which should not be disclosed to anyone and may need to provide a few basic details like date of birth, address etc.


  • You need to then add all your policies in the account by providing policy number and date of birth. This makes all self, spouse or child policies visible and manageable separately at one place and any details you need, you can find from here.


  • For second time and further use of the online portal or mobile application one need to provide the User Id, password and date of birth by clicking the registered user button in a section which is for dedicated use of LIC registered customers, agents, development officers, branch login purposes and portal usage. There is also a provision to pay premiums online without even login and by only providing the policy details and making payment by Net banking or debit/credit cards.


  • Once you are logged in click on the Individual policy details. On the portal landing page, you will separately view the self, spouse, child and all policies. Other sections viewed on this page under My Apps section will be basic services, online payments, premier services, service requests, grievance and profile management.


  • Once you click on the self-policy you will view the grid of all the policies added by you on the portal with details like policy number, product name, policy status, instalment premium amount and mode and premium due date. Similarly, by clicking on child and spouse policies the same details as mentioned above will be shown in grid format for the child and spouse policies you have added in the portal. All policies will give details of all of the added policies.


  • For viewing further details on policies added we need to click on the policy name under the grid. This will open the page where there will be coverage details, bonus information and other information under three separate tabs. Also, there will the information of nominees and the percentage share of allotment.


  • Tab 1 – Coverage details: Name of life assured, Plan name, instalment premium, premium due from, sum assured, policy status


  • Tab 2 – As per the topic of the article here you will find the bonus information and guaranteed addition accumulated under your policy till date. The monetary bonus amount accumulated till date will be mentioned with the information that Bonus accrued / Guaranteed addition/ Loyalty addition is payable subject to policy conditions and after deduction of previous loan, loan interest or any other deduction due under the policy. You can visit every year this section to get an overview of how much bonus was added under the specific policy.


  • Tab 3 – Other Information: Age at entry, premium paying term, policy term, policy commencement date, date of maturity, branch and agent details.

Apart from the policy management and information that can be viewed very easily in the portal there are numerous other facilities available like online premium paid receipt generation in PDF format, claim status, loan status, policy schedule and status, revival quotation for lapse cases, premium calendar etc. the portal can also be used to buy new LIC products, download various policy and claim forms, premium calculator and benefit illustration and grievance redressal policy.

Our overall suggestion and analysis is that online portal is a whole new way, simple and easy of interacting with the insurer so every customer must register with the portal, add their policies and use the portal to its fullest.


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