HDFC Life Declares Rs. 3,722 Cr. Bonus for Policyholders
Mumbai, May 15, 2024.HDFC Life, one of India’s leading life insurers, announced its highest-ever bonus of Rs. 3,722 cr. on participating plans during the Company’s board meeting in April 2024. This substantial bonus will benefit ~22.23 lakh policyholders.Participating or par plans are a distinctive type of life insurance policy that provide policyholders with profit-sharing benefits in the form of bonuses. These plans allow policyholders to share in the company’s profits, reflecting a mutual partnership between the insurer and policyholders.Out of the total bonus amount, Rs. 2,798 cr. will be disbursed to policies in the current financial year, either as maturity bonuses or cash bonuses. The remaining bonus will be payable in the future upon policy maturity, death or ...