Kotak Mahindra Life Insurance Company Limited (Kotak Life) has announced Rs 840 crore bonus for more than 6.5 lakh eligible participating policyholders for the fiscal year 2023. This is a 24% increase over the bonus declared for the fiscal year 2022. This year marks the 22nd consecutive year of bonus payments to policyholders, a practice that began in 2002.
Bonuses declared during each fiscal year are accrued and paid out at maturity or exit. Cash bonuses or special one-time bonuses will also be awarded in response to specific policy events, subject to policy conditions.
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“True to our brand promise Hum hain… hamesha, our endeavor remains to always be there for our customers,” said Mahesh Balasubramanian, Managing Director, Kotak Mahindra Life Insurance Company Limited. Kotak Life remains committed to playing an important role in protecting the lives of our policyholders and their families. We are pleased to announce that the bonus for our valued customers has been increased. We have strengthened our customer engagement initiatives through enhanced digital capabilities and analytics, and we will continue to provide them with convenient and simple solutions.”
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