Lic Final Additional Bonus Rates Calculator – Cost Calculator

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LIC Final Additional Bonus (FAB) Calculator

Basic Sum Assured (₹)

Policy Term (Years) Below 15 Years 15 Years 16 Years 17 Years 18 Years 19 Years 20 Years 21 Years 22 Years 23 Years 24 Years 25 Years 30 Years 35 Years or more

FAB Rate (per ₹1000 SA): ₹0

Total Final Additional Bonus: ₹0

*Note: These figures are based on latest LIC bonus declarations and vary by specific plan numbers.

What is LIC Final Additional Bonus (FAB)?

The Final Additional Bonus (FAB) is a one-time terminal bonus paid by the Life Insurance Corporation of India (LIC) to policyholders. Unlike the Simple Reversionary Bonus, which is declared annually and added to the policy every year, the FAB is paid only once: either at the time of maturity or in the event of the policyholder's death, provided the policy has run for a specific minimum duration.

Eligibility Criteria for FAB

To qualify for the Final Additional Bonus, a policy generally needs to meet the following conditions:

Minimum Term: Usually, the policy must have a term of 15 years or more.
Full Paid-up Status: The policy must be in full force, with all premiums paid up to date.
Claim Type: FAB is payable on maturity claims or death claims. It is typically not paid on surrendered policies.

How is FAB Calculated?

The FAB rate is expressed as a specific amount per ₹1,000 of the Basic Sum Assured. The actual rate depends on two primary factors:

The Policy Term: Longer policy durations usually attract higher FAB rates.
The Sum Assured Band: LIC categorizes policies into slabs (e.g., up to ₹25,000, ₹25,001 to ₹50,000, ₹50,001 to ₹1,99,999, and ₹2,00,000 and above). Higher sum assured amounts often receive higher FAB rates.

Example Calculation

If a policyholder has a Sum Assured of ₹5,00,000 with a policy term of 25 years, and the declared FAB rate is ₹450 per thousand:

FAB Amount = (Sum Assured / 1000) × FAB Rate

FAB Amount = (5,00,000 / 1000) × 450 = ₹2,25,000.

Recent Trends in LIC FAB Rates

Term (Years)	SA up to 1L (Approx)	SA above 2L (Approx)
15	₹0 – ₹10	₹20
20	₹40 – ₹50	₹70
25	₹250 – ₹300	₹450
35	₹1800 – ₹2000	₹2300

Please note that FAB rates are announced by LIC at the end of every financial year (March 31st) and may change based on the corporation's valuation and profit performance.