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Business EconomyPosted at: Jul 17 2018 7:26PM


Max Life Insurance to distribute Rs 1,084 crore as bonus to its participating policyholders

Gurugram, July 17 (UNI) Max Life Insurance, one of the leading life insurance companies of India, announced that it will be paying Rs 1,084 crore as policyholder bonus on the participating policies in-force, an increase of 27 per cent over Rs 854 crore in the same period in the previous year.
The company will be paying the bonus during the period July 1, 2018 to June 30, 2019, according to a release here on Tuesday.
The bonus distribution, 16th year in a row, will benefit around 15 lakh participating policyholders of Max Life Insurance.

Max Life Insurance's participating policyholder fund at Rs 26,570 crore (as on 31st March, 2018) is one of the largest in the industry and has grown at Compounded Annual Growth Rate (CAGR) of ~35 per cent over 10 years.
Commenting on the bonus announcement, Jose John, Director and Appointed Actuary, Max Life Insurance said, "We believe in offering consistent returns to our participating policyholders. In spite of volatile market conditions experienced over the last year, we are able to offer stable bonus to our
policyholders. This has been made possible through efficient cost management, superior mortality and persistency experience as well as robust investment strategy for par fund leading to stable returns. As a result of this and a steady growth in participating business, we will be distributing
more than Rs.1,000 crore as bonus to our participating policyholders for the first time in our 16 years history of bonus distribution."

Max Life Insurance has the unique bonus policy where it offers three bonus options - Cash Bonus, Paid Up Additions (PUA) and Premium Offset, which the policyholders can choose to suit their specific needs. In addition, in some of the participating products, Max Life Insurance also offers reversionary bonus.

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