ICICI Prudential Life declares Rs 788 crore bonus

ICICI Prudential Life Insurance has announced a bonus totalling Rs 788 crore for its bouquet of participating products. All participating policies in force as of March 31, 2020, are eligible to receive this bonus, which will be added to their guaranteed maturity or death benefit. This is the 14th consecutive year the Company has declared a bonus and delivered long term value to policyholders. The bonus declared for FY2020 is 15% higher than the last fiscal enabling ~9 lakh policyholder to get one step closer to achieving their financial goals.
Mr N S Kannan, Managing Director & CEO, ICICI Prudential Life Insurance said, “Policyholders depend on us to ensure the fruition of their long term financial goals and the bonus of Rs 788 crore declared for FY2020 will take them a step closer to it. The mantra to build a long term savings pool is staying committed to the regular contributions for the tenure of the product. Participating in savings products offer smoothened returns while providing insulation from market variations. Lakshya, which we launched last year, is well-suited for customers with low-risk appetite.”