Informative

Canara HSBC Life Insurance announces ₹232 crore bonus for over 2 lakh policyholders

Update / Judgement Date

09 Jun 2024

Source

CNBC TV18

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insurance

Canara HSBC Life Insurance declared a customer bonus of ₹232 crore for over 2.18 lakh policyholders in the financial year 2023-2024. Participating policies or profit plans allow life insurance companies to share profits with policyholders through bonuses, fostering a shared partnership.\r

These bonuses, announced annually, accumulate and are distributed upon policy maturity, death, or surrender. This announcement highlights the company's commitment to enhancing value for its policyholders, reflecting its dedication to customer satisfaction and financial security.

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Canara HSBC Life Insurance announces ₹232 crore bonus for over 2 lakh policyholders

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