With and without profit LIC policies?

[harry1976]

What is the difference between with and without profit LIC policies?

[Deep Blue]

As per LIC Website -

A with profit policy is entitled to get bonus (profit) declared periodically by the Insurance Company. Whereas a without profit policy does not give any bonuses (profits). But recently LIC has introduced some without profits policies with guaranteed additions and loyalty additions. These are specific policies may also be considered as with profit policies.

[pramod]

With-Profit policy
Policies entitled to bonus, which is paid at the time of claim-death or maturity one with-profit policies.

Without-Profit policy
These policies are not entitled to particiapte in bonuses.