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Insurance
15-May-24
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HDFC Life declares bonus worth Rs 3722 crore to policyholders
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HDFC Life Insurance, one of India’s leading private sector life insurer on Wednesday announced its highest-ever bonus of Rs 3,722 crore on participating plans to nearly 22.23 lakh policyholders.
In participating or 'par' policies, life insurance companies share the benefit of profit with the policyholders in the form of bonuses. These plans allow policyholders to share the company's profits, reflecting a mutual partnership between the insurer and the policyholders.
Out of the total bonus amount, Rs 2,798 crore will be disbursed to policies in the current financial year (FY25) in the form of maturity bonuses or cash bonuses. The remaining bonus is payable in future on policy maturity, death or surrender.
Vibha Padalkar, Managing Director & Chief Executive Officer of HDFC Life, said, “We are delighted to announce an increase in the bonuses for our valued policyholders this year. Life insurance policies are designed for the long term, and bonuses serve as a reward for the loyalty of policyholders throughout the policy term. We are committed to providing the best products and services to our policyholders, ensuring value for all our stakeholders.”
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