In the context of LIC (Life Insurance Corporation of India), 4% and 8% likely refer to the guaranteed interest rates provided by LIC on certain insurance policies. These rates are associated with participating or with-profit insurance plans.
- 4%:
In the past, LIC used to declare a minimum guaranteed interest rate of 4%
per annum on the sum assured for traditional participating policies. This
means that regardless of market fluctuations or the company's performance,
the policyholder would receive a minimum interest rate of 4% on the sum
assured.
- 8%:
Similarly, LIC used to declare an 8% bonus rate on the sum assured for
traditional participating policies. The bonus is the share of the
company's profits that is allocated to policyholders as a percentage of
the sum assured. This bonus rate could vary from year to year, but the
minimum guaranteed bonus rate was typically 8% per annum.
It's important to note that LIC's policies and the declared
interest rates are subject to change over time and depend on the company's
financial performance and prevailing economic conditions. Moreover, since my
knowledge is up-to-date only until September 2021, there might have been
updates or changes to LIC's policies or interest rates after that date.
If you are considering an LIC policy or want to know the
current interest rates and bonuses offered, I recommend reaching out to an
authorized LIC agent or visiting LIC's official website to get the most recent
and accurate information.
[Note: This is not lic orginal website.This is the only thing to shear information about lic]
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