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Life Insurance - What do you mean by Guaranteed Additions on LIC policies?
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In case of some policies, the Life Insurance Corporation provides the policyholder with the bonus or the profits declared as a certain amount per thousand of sum assured. This assured bonus will be given to the policyholder whatever be the performance of the corporation for the period in question. These are Guaranteed Additions and are paid at the end of the term of the policy or in case of the early death of the policyholder.