HDFC Life has announced the bonus on its participating plans. The eligible ‘participating’ policyholders will get a share of the surplus generated in the participating fund and their benefit amount will increase with declaration of bonuses every year.
The bonus of Rs 2180 crore was announced in the Company’s Board meeting held in April 2021. It exceeds the previous year’s bonus by 44 percent. Around 15.49 lakh policyholders are eligible for this bonus.
Out of the total amount of Rs 2180 crore, Rs. 1,438 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 when policies exit on maturity/death/surrender.
Vibha Padalkar, MD & CEO, HDFC Life, said “We are happy to declare the bonus for our policyholders. We thank our policyholders for reposing their trust in HDFC Life and we stay committed to our promise of delivering the best in terms of products and services.”
