Future Generali India Life Insurance to pay 12% higher bonus to policyholders: cash bonus up by 43%, terminal bonus by 49%
Mumbai:19th June 2024: Future Generali India Life Insurance Company Limited has recently declared its highest-ever bonus of Rs. 59.80 crore for the FY2023-24, benefiting more than 101,000 policyholders who have made investment is in the company’s participating products. The bonus for FY24 reflects a notable increase of 12% compared to the bonus awarded in FY23. The cash bonus has seen a significant 43% increase, reaching Rs. 14.60 crore, while the terminal bonus has also witnessed a substantial 49% increase, totalling Rs. 4.54 crore.
Commencing from FY24, FGILI has implemented the practice of granting 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.
Regarding the announcement of the bonus declaration, Mr. Alok Rungta, MD & CEO, Future Generali India Life Insurance Co., stated, “The declaration of the highest-ever participating bonus serves as evidence of our strong financial position. Our commitment to facilitating the long-term life goals of our customers is evident in every aspect of our approach. Our investment strategies, which support our value-packed products, are specifically designed to help our customers achieve their life goals on an annual basis.”
Bonuses are added payments that are 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 inclusion of cash bonuses in a policy offers enhanced liquidity and enables consumers to accumulate wealth. These bonuses, in addition to the life cover provided throughout the policy term, contribute to the overall financial benefits for the policyholders.
