Future Generali India Life Insurance Company has declared ₹59.80 crore bonus for 2023-24.
The payout, 12% higher compared with the FY23 bonus, will benefit over 1.01 lakh policyholders who have made investments in the company’s participating products, the insurer said on Tuesday.
Beginning FY24, FGILI has decided grant terminal bonuses to policyholders who exit from reduced paid-up status, in addition to those with premium paying or fully paid policies, following the specified eligibility criteria.
“The declaration of the highest-ever participating bonus serves as evidence of our strong financial position,” MD and CEO Alok Rungta said.
Bonuses are payments received in addition to the entitled basic sum assured. Life insurers allocate a portion of their profits to distribute these bonuses. Further, investing in these participating policies provides consumers with the opportunity to enhance their investments while mitigating the risks associated with market-linked products, the insurer said.
