ICICI Prudential Life announces highest-ever bonus of Rs 867cr

Bonus is the share of profits generated by the company's participating policyholder's funds, which are added to their guaranteed maturity benefits, thus enhancing the corpus.

New Delhi: ICICI Prudential Life Insurance on Monday declared its highest-ever annual bonus of Rs 867 crore for the policyholders for FY21.

The bonus declared is the highest ever by the company till date and is also 10 per cent higher than the bonus announced in the last fiscal, it said in a release.

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Bonus is the share of profits generated by the company’s participating policyholder’s funds, which are added to their guaranteed maturity benefits, thus enhancing the corpus.

All participating policies in force as of March 31, 2021, are eligible to receive this bonus and will be added to the policyholders’ benefits, said the insurer.

A total of 9.8 lakh participating policyholders will benefit from this, taking them closer to their long-term financial goals.

ICICI Prudential Life said this is the company’s 15th consecutive year of declaring a bonus.

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