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ICICI Prudential Life Insurance said that 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. The company has announced an annual bonus of Rs 867 crore for all eligible participating policy holders for FY2021. It has also added benefits to policy holder such as, all participating policies in-force as of March 31, 2021, are eligible to receive this bonus.
Especially at the time of the pandemic, a total of 9.8 lakh participating policyholders are expected to benefit from this, taking them closer to their long-term financial goals.
Thus enhancing the corpus, bonus is the share of profits generated by the Company’s participating policyholder’s funds which are added to their guaranteed maturity benefits. To deliver superior risk-adjusted returns to policy holders, this is the 15th consecutive year the Company has declared a bonus, underscoring its customer-centricity and long-term investment.
By the end of March 31, 2021, 96.8 per cent of the fixed income portfolio is invested in sovereign or AAA rated paper.
“We are delighted to announce that the annual bonus for FY2021 is the highest ever in the history of the Company. What gives us special satisfaction is the fact that it coincides with the 20th anniversary of our operations”, said N.S. Kannan, Managing Director & CEO, ICICI Prudential Life Insurance.
He also added, that it demonstrates our customer focus, resilience and ability to navigate through the unprecedented challenges posed by the pandemic”.
Around 980,000 holders are likely to benefit this bonus.