Whole Life Policy

Whole Life Policy:
Premiums are paid throughout the life time of life assured . This can be with profits or without profits ( A "with profit" policy is eligible for various bonuses declared by LIC every year, while a "without profits" policy does not have this privileg
1.With-Profit policy:
Policies entitled to bonus, which is paid at the time of claim-death or maturity one with-profit policies.
2.Without-Profit policy:
These policies are not entitled to particiapte in bonuses.