HDFC Life declares ₹2465 crore bonus, 5.87 lakh policyholders to benefit

Market


HDFC Life has declared its highest ever bonus on its participating plans. The bonus of 2465 crore was announced in the Company’s Board meeting held in April 2022. 5.87 lakh policyholders are eligible for this bonus. Out of the total amount of 2465 crore, 1,803 crore will be payable in this financial year, as bonus on maturing policies or as cash bonuses. The remaining bonus amount would be payable in the future as and when policies cease to exist on account of maturity, death or surrender.

Speaking on the highest ever bonus announcement by the company, Vibha Padalkar, MD & CEO at HDFC Life said, “We are pleased to announce market competitive bonus payouts year after year. It is our way of exceeding the expectations of our policyholders who strongly believe in financially securing themselves and their loved ones and have entrusted us with their hard-earned money. We stay committed to uphold the trust they have placed in us. It is our promise to keep delivering value to all.”

HDFC Life is a joint venture between HDFC Ltd., India’s leading housing finance institution and Abrdn (Mauritius Holdings) 2006 Limited, a global investment company. Established in 2000, HDFC Life is a leading, listed, 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.

As on March 31, 2022, the Company had 39 individual and 13 group products in its portfolio, along with 7 optional rider benefits, catering to a diverse range of customer needs. HDFC Life continues to benefit from its increased presence across the country having a wide reach with 372 branches and additional distribution touch-points through several new tie-ups and partnerships. HDFC Life has nearly 300 partnerships, comprising traditional partners such as NBFCs, MFIs and SFBs, and including new-ecosystem partners. The Company has a strong base of financial consultants.

Subscribe to Mint Newsletters

* Enter a valid email

* Thank you for subscribing to our newsletter.



Source link

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments