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Bajaj Allianz Life to disburse Rs 1,201 cr as bonus for FY23 to participating policyholders Bonus

Bajaj Allianz Life to disburse Rs 1,201 cr as bonus for FY23 to participating policyholders

India Blooms News Service | @indiablooms | 27 Apr 2023, 12:12 am

Bajaj Allianz Life has declared a bonus of Rs 1,201 crores for its participating policyholders, which includes a regular reversionary bonus of Rs. 872 crores and a Terminal & Cash bonus of Rs. 329 crores.

The bonuses will benefit 11.43 lakh eligible loyal policyholders who have remained committed to their Life Goals with Bajaj Allianz Life.

The company has announced the bonus for the participating policyholders for the 22nd consecutive year.

The Regular Reversionary Bonus declared by the company will be payable at the time of maturity or death of the policyholder.

The funds for the bonus will be sourced from the surplus generated by the company's participating policyholders' funds for FY2023.

Bajaj Allianz Life Insurance MD & CEO Tarun Chugh said, "The bonuses announced for 22 years consecutively is a testament to the teams’ focus to ensure our customers continue to enjoy the benefits of staying invested in their long-term goals with us. We will continue to focus on customer centricity as we move ahead to enable many more customers to fulfill their goals with us.”

Bajaj Allianz Life declared bonuses for its participating products including Bajaj Allianz Life Flexi Income Goal, Bajaj Allianz Elite Assure, Bajaj Allianz Life Income Assure amongst others.

All participating policies in force as of March 31, 2023, are eligible to receive the bonuses announced by the company.