Max Life Insurance, one of India`s leading life insurance companies in India, announced a one-time special bonus to all its active policy holders who have participating policies issued on or before 31st December 2005. The special bonus will be paid at the respective policy anniversaries commencing February 1, 2013. The special bonus would be calculated as a percentage of the annual premium paid. For the eligible policies, the longer the policyholder has been with the Company, the higher will be the percentage of the special bonus.
Commenting on the first ever special bonus declaration to its participating policyholders, Mr. Rajesh Sud, CEO & Managing Director, Max Life Insurance said, Max Life Insurance has experienced robust and profitable growth. We wanted to share the result of this improved performance with our loyal policyholders in the form of special bonus. The older the eligible policy, the higher the special one-time bonus it will be eligible for. We will continue delivering true value to our policyholders by focusing on long-term savings and protection.
All the policies which were issued on or before 31st December 2005 and are active at the time of their policy anniversaries falling due in the 12-month period from 1st February 2013 and 31st January 2014, will be eligible for the special one-time bonus. During this period, if there is a reinstatement which causes the policy to become active, that policy would also be eligible for special one-time bonus. Policies that have been surrendered will not be eligible for this special bonus.
At A Glance
- Over 2.6 lakh policyholders would receive payments ranging from 100% to 20% of their annual premiums, irrespective of the premium term or the policy term of the policy.
- The total payout is estimated to be around Rs. 130 crore
- Payment would be made at the policy anniversary falling due in the 12-month period from 1st February 2013 to 31st January 2014
- Special one-time Bonus payment would be made through cheque irrespective of the bonus option chosen by policyholder
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