If you have HDFC Life Insurance policy then there is good news for you. The insurance company has announced to give the highest ever bonus to its policyholders. HDFC Life has announced the biggest ever bonus of Rs 3,722 crore on participating plans. A participating plan or par plan is a special life insurance policy that allows policyholders to share in company profits in the form of bonuses.
How will the bonus be distributed?
HDFC Life said that of the total bonus amount, Rs 2,798 crore will be distributed as maturity bonus or cash bonus to the policies in the current financial year and the remaining bonus will be payable in future on policy maturity, death or surrender. According to Business Today news, Vibha Padalkar, MD and CEO of HDFC Life, said that we are happy to announce an increase in the bonus for our valued policyholders this year. Life insurance policies are designed for long term and the bonus acts as a reward for the policyholders’ loyalty during the policy term.
Bajaj Allianz Life Insurance had also announced
A few days before HDFC Life, Bajaj Allianz Life Insurance also announced the largest ever bonus of Rs 1,383 crore for the financial year 2023-24 (FY24) for over 11.66 lakh policyholders investing in participating products. Was.
The bonus for FY 2024 is 15 percent more than the bonus for FY 2023, which was Rs 1,201 crore. Let us tell you, the bonus of the company depends on different factors, which include the return on assets of the company, bonus declared last year, claims filed, future interest rates and other assumptions.
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