HDFC Life declares a bonus of ₹2180 crore. Eligibility and other details here

Mumbai: HDFC Life, one of India’s leading life insurers 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 the declaration of bonuses every year.

The bonus of ₹2180 crore was announced in the Company’s Board meeting held in April 2021. It exceeds the previous year’s bonus by 44 per cent. 15.49 lakh policyholders are eligible for this bonus.

Out of the total amount of ₹2180 cr, Rs1,438 cr 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 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."

HDFC Life Insurance Company Limited is a listed life insurance entity promoted by HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.

Established in 2000, HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as protection, pension, savings, investment, annuity and health.

Source: Live Mint