Declares bonus for the 22nd consecutive year; 6.5 lakh policyholders to receive a bonus in FY2023
Kotak Mahindra Life Insurance Company Limited (Kotak Life) has announced a bonus of Rs 840 crore to more than 6.5 lakh eligible participating policyholders for FY 2023. This is an increase of 24% over the bonus declared for FY 2022. A practice, which was started in 2002, this year marks the 22nd consecutive year of bonus payment to policyholders.
Bonuses declared in each financial year are accrued and paid out at the time of maturity or exit. Cash bonuses or special one-off bonuses will also be paid out on specific policy events as per policy conditions.
Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited said, “True to our brand promise Hum hain… hamesha, our endeavour remains to always be there for our customers. We at Kotak Life stay committed to playing a significant part in securing the lives of our policyholders and their families. We are pleased to announce an increased bonus for our valued customers. We have strengthened our customer engagement initiatives through enhanced digital capabilities and analytics and will continue to provide convenient and easy solutions for them.”
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