Insurance News Details

Kotak Life announces participating bonus of Rs 840 Crore to Policyholders

(31-May-23   17:25)

Kotak Mahindra Life Insurance Company announced a bonus of Rs 840 crore to over 6.5 lakh participating policyholders for the last financial year ended March 31, 2023.

Kotak Life's bonus for FY2023 is 24% higher than that paid for FY22 and marks the 22nd consecutive year of bonus payments to policyholders.

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,? said Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance.

?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,? the insurer said.

Powered by Capital Market - Live News