The insurer said that 4,60,000 customers, whose policies are in force/in effect as of March 31, 2021, will be eligible for this bonus.
Policyholder bonus is the share of profits generated by the company’s participating funds which is paid to the customers at various benefit events. (Representative image)
Private life insurer PNB MetLife India Insurance has announced a bonus of Rs 532 crore for all eligible policyholders of participating products for FY21. This year’s bonus amount exceeds the previous year’s bonus by 7 percent.
Policyholder bonus is the share of profits generated by the company’s participating funds which is paid to the customers at various benefit events.
Ashish Kumar Srivastava, MD & CEO, PNB MetLife, said, “Even in these unpredictable times, our focus remains firmly on the well-being of our customers. We are proud of our prudent management practices, despite these trying times we have delivered steady growth on our participating products over the years.”
Participating life insurance plans offer customers an opportunity for wealth accumulation through dividend distribution, as well as guaranteed life protection.
This year PNB MetLife has launched PNB MetLife Century Plan, a participating life insurance plan that provides customers an opportunity to secure their future with an income till the age of 100 years along with a lifelong cover. Ensure a second income for your retirement years and build a legacy for future generations.
On July 15, Kotak Mahindra Life Insurance also announced a bonus of Rs 591 crore to eligible participating policyholders for FY21. This is an increase of 41 percent over the bonus declared for FY20.