Bajaj Allianz Life Insurance declares one-time Special Bonus for its policyholders - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Friday, June 01, 2018

Bajaj Allianz Life Insurance declares one-time Special Bonus for its policyholders


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                                                                                                                                               



Bajaj Allianz Life Insurance declares one-time Special Bonus for its policyholders Reviewed by S. Chitra on June 01, 2018 Rating: 5 Bajaj Allianz Life Insurance declares one-time Special Bonus for its policyholders ~ The bonus amount is set to benefit over 13 lakhs...

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