Bajaj Allianz Life declares Rs. 1,156 cr annual bonus for policyholders

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Insurance company Bajaj Allianz Life has given bonuses to policyholders totaling Rs 1,156 crore. This bonus is also referred to as a “special one-time bonus,” which includes an additional sum of Rs 315 crore above and beyond the regular bonus. As the insurer says, the company is committed to supporting its customers in realising their life goals in these unstable times. The profits generated by participating policyholders’ funds for the year FY 2020-21 is used to fund these bonuses. These customers, who have kept their money invested in the company, will see nearly 12 lakh (11,99,612) of their policyholders benefit.

20 years is the longest length of time that Company bonuses have been delivered and long-term value has been established. The company has announced a bonus that will be available to all par policies in place on March 31, 2021, for which customers are currently paying premiums. Death or maturity of the policyholder triggers both the one-off special bonus and the regular reversionary bonus.

In an interview with The Indian Express, Mr. Tarun Chugh, Bajaj Allianz Life Insurance Managing Director and CEO, commented, ” “In addition to our core commitments to our employees and our customers, we must continue to prioritise their Life Goals as we move forward in these difficult times. We want to let each of them know that we will be there to help them keep their Life Goals on track. While this bonus is a one-time deal, it is a guarantee that it will encourage several of our customers to continue to stay on track with their Life Goals.”

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