HDFC Life declares bonus of over Rs 2K cr

Mumbai : Life insurance company HDFC Life on Wednesday announced a bonus of over Rs 2,000 crore on its participating plans.

The eligible participating policyholders will get a share of the surplus generated in the participating fund.

"The bonus of Rs 2,180 crore was announced in the Company's Board meeting held in April 2021. It exceeds the previous year's bonus by 44 per cent," the company said in a statement.

As per the company, 15.49 lakh policyholders are eligible for this bonus.

"Out of the total amount of Rs 2,180 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."