ICICI Prudential announces bonus to policyholder: Insurance Bonus Bonus for the 15th year in a row; 867 crore for policyholders

Mumbai: ICICI Prudential Life Insurance has announced an annual bonus of Rs 867 crore for the financial year 2021 for all eligible policyholders. The declared bonus is the largest bonus ever paid by the company and is 10 per cent higher than the previous financial year.

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All participating insurance plans i.e. plans till 31st March 2021 are applicable for availing the bonus and will be included in the benefits of the insured. A total of 9.8 lakh participating policyholders will benefit from this, which will help them get closer to their financial goals. The bonus is a portion of the profits generated by the company’s insured’s fund and is a guaranteed maturity of the insured.
Included in the benefits is an increase in the total amount.

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The company has announced the bonus for the 15th consecutive year this year, which reflects the company’s customer orientation and long-term investment approach to provide better returns to the insured. The amount of defaults in the portfolio is zero due to the company’s strict investment policy since its inception and throughout all cycles in the market. As on March 31, 2021, 96.8 per cent of the fixed income portfolio has been invested in Sovereign or AAA rated paper.

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NS Kannan, Managing Director and Chief Executive Officer, ICICI Prudential Life Insurance Company, said, On customers
Our emphasis is on perseverance and our ability to cope with the unforeseen challenges posed by the epidemic. Our visionary strategy and commitment to sensitively protecting the long-term savings needs of our customers continues to inspire us in these challenging times. ”

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Long-term products The company’s range of traditional products provides customers with a life shield that provides the necessary capital security, stable returns and financial security for the family. The goal is for the company’s innovative participating products to meet the diverse needs of customers, ranging from long-term wealth creation to income needs at different stages of life.