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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.
The term vest is significant in the law, because it means that a person has an absolute right to some present or future interest in something of value.When a right has vested, the person is legally entitled to what has been promised and may seek relief in court if the benefit is not given.O VEST, estates. To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present enjoyment; and an estate is vested in interest, when there is a present fixed right of future, enjoyment. Feame on Rem.