Bajaj Allianz Life Insurance declares
one-time Special Bonus
for its policyholders
~ The bonus
amount is set to benefit over 13 lakhs policyholders
Chennai, 1 June, 2018: Bajaj Allianz Life Insurance Company Ltd., one of India’s
leading private life insurer announced a one-time Special Bonus for all its
policyholders who have participating policies in force as on 31st March
2018. The one-time Special Bonus is over and above the Compounded Reversionary
Bonus declared for respective participating plans. This move will benefit over
13 lakhs policyholders who have
stayed invested and reposed their faith in the company.
The one-time Special Bonus has been declared
only for the FY 2017-18 at 1% of the base Sum Assured that is payable at the
time of claim. Along with the one-time Special Bonus, Bajaj Allianz Life
Insurance Company has also declared the yearly Compounded Reversionary Bonus. The
Compounded Reversionary Bonus is computed on the Sum Assured and all
accumulated bonuses.
Commenting on the one-time special bonus for its policyholders, Tarun
Chugh, Managing Director and Chief Executive Officer, Bajaj Allianz Life
Insurance Company Ltd. said, “Our Company has realized capital gains and we
have decided to share this with our in-force policyholders. The one-time
Special Bonus declared over and above the annual bonus
allows our customers to enjoy the benefits of staying invested with us and
achieving their life goals”.
Impact of the Bonus
To understand the impact of the bonus,
let’s assume that a customer bought a participating policy Bajaj Allianz Elite
Assure last year for a base Sum Assured of Rs. 20,00,000 for a 20 year policy
term. This financial year, a Compounded Reversionary Bonus of 4.5% has been
declared, which amounts to Rs. 90,000. In addition to this, a one-time Special
Bonus of 1% of base Sum Assured is also declared. This amounts to a one-time
special amount of Rs. 20,000 for the customer.
About Bajaj Allianz Life Insurance
Company Limited
Bajaj
Allianz Life Insurance Company Limited is one of India’s leading private life
insurance companies. It is a joint venture between Bajaj Finserv Limited, the
holding company for the businesses dealing with financial services of the Bajaj
Group, and Allianz SE, the world’s leading insurance conglomerate and one of
the largest asset managers in the world.
Bajaj
Allianz Life Insurance Company Limited began its operations in 2001, and today
has a pan-India presence with 632 branches as on 30 April, 2018. The company
offers life insurance solutions through its strong product portfolio, which
includes traditional insurance products and ULIPs for enabling customers fulfil
their LifeGoals. The company also offers group insurance and health insurance
plans.
For further details, please contact:
Bajaj Allianz Life Insurance Co. Ltd.
Anuja Sharma: +91 9833866842
Siksha Kapoor: +91
9748896818
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