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, Works at Life Insurance Corporation of India. Vested Bonus is the bonus which is already accumulated in you policy at the end of particular financial year. Every year LIC declares bonus in its Participating/with profit policies according to valuation of actuarial department of LIC.
In law, vesting is to give an immediately secured right of present or future deployment. One has a vested right to an asset that cannot be taken away by any third party, even though one may not yet possess the asset. When the right, interest, or title to the present or future possession of a legal estate can be transferred to any other party, it is termed a vested interest.