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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.
A vesting period is time during the term of the grant that you have to wait until you are allowed to exercise it. For example, if the term of your grant is 10 years, and your vesting period is 2 years, you may begin exercising your vested options or rights as of the second anniversary date of the grant. This essentially means you have an 8-year time frame (the exercise period) during which you can exercise your options or rights.