HDFC Life has declared its highest ever bonus of Rs 3,660 crore on participating plans. The bonus was announced in the Company’s Board meeting held in April 2023.
2.31 million policyholders are eligible for this bonus.
Out of the total amount Rs 2,696 crore will be payable to policies in this financial year, as bonus on maturing policies or as cash bonuses. The remaining bonus amount would be payable in the future upon policy cessation by way of maturity, death claim or surrender pay-outs.
Participating or par plans are life insurance policies that provide the policyholder with profit-sharing benefits in the form of bonuses.
Vibha Padalkar, MD & CEO, HDFC Life said, “As a life insurer, we cater to four key risks of mortality, morbidity, longevity, and interest rate through our products and services that enable individuals to live a ‘Life of Pride’. We are pleased to announce an increase in the bonus declared for our valued policyholders. This is our way of rewarding the loyalty as we continue to do our part to secure India, financially.”
