HDFC Life Declares Bonus Of Rs 3660 Cr To Over 23 Lakh Policyholders
HDFC Life has declared its highest-ever bonus of Rs 3,660 crore on participating plans which will benefit 23.14 lakh policyholders. The bonus was announced in the Company’s Board meeting held in April 2023.
Out of the total amount of Rs 3,660 crore, Rs 2,696 crore will be payable to policies in this financial year, as a 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.
Commenting on the announcement, the MD and CEO of HDFC Life, Vibha Padalkar said, “We are pleased to announce an increase in the bonus declared for our valued policyholders and this is our way of rewarding the loyalty of our policyholders as we continue to do our part to secure India, financially.”
Recently, HDFC Life was featured in the ‘Leadership’ category of the Indian Corporate Governance Scorecard for the second consecutive year, an outcome of the annual assessment of the S&P BSE 100 companies on the Indian Corporate Governance Scorecard framework.
