Bonus of Rs 1,070 crore introduced for Bajaj Allianz Life policyholders. Verify Eligibility


By PTI IST (Up to date)

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The life insurer stated that those that have participation insurance policies that are relevant for full sum assured until March 31, 2022, and for which they’re paying premium often, are eligible for the bonus.

Bajaj Allianz Life Insurance coverage on Thursday stated it has introduced a bonus of Rs 1,070 crore for its policyholders for the monetary 12 months ended March 2022. The corporate has introduced bonus for the twenty first 12 months in a row.

The life insurer stated that those that have participation insurance policies that are relevant for full sum assured until March 31, 2022, and for which they’re paying premium often, are eligible for the bonus.

A participant life insurance coverage coverage permits policyholders to take part in firm earnings within the type of dividends or bonuses. The bonus introduced by the corporate consists of common reversionary bonus of Rs 840 crore and one terminal and money bonus of Rs 230 crore.

Learn additionally:

A reversionary bonus refers to an quantity added to the sum of the insurance coverage coverage payable on the maturity of the coverage or on the dying of the insured. Bajaj Allianz Life acknowledged that the declared Common Reversionary Bonus is payable on the time of maturity or after the dying of the policyholder.

Over 11.62 lakh eligible loyal policyholders who’re targeted on their life objectives with Bajaj Allianz Life will profit from this announcement, an organization launch stated. The life insurer stated the bonus can be funded from the excess generated from the funds of the taking part policyholders of the corporate for FY22.

Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance coverage stated that the continual bonus announcement for the final 21 years displays the dedication to the purchasers in the direction of their life objectives. “We are going to proceed to strengthen the group’s proposition by providing value-packed merchandise and best-in-class companies. These will likely be along with the announcement of annual bonus on insurance policies to fulfill the long-term monetary objectives of our prospects,” he added. . ,



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