Over 11.66 lakh policyholders to benefit from the Rs. 1,383 Crores bonus declared for FY2024
PUNE: Bajaj Allianz Life, one of India’s leading private life insurers, announces bonuses for the 23rd consecutive year! This is for the over 11.66 lakh policyholders who have invested in the Company’s participating products. This is the Company’s highest bonus declaration ever at Rs. 1,383 crores for FY2024.
Policyholders with traditional participating (with-profit) policies are eligible to receive this bonus, which is declared from the surplus generated under the participating (with-profits) funds. All participating policies in force as of March 31, 2024, are eligible to receive this bonus. Policyholders of participating products like Bajaj Allianz Life Flexi Income Goal, Bajaj Allianz Elite Assure, and Bajaj Allianz Life Ace, amongst others, stand to benefit from the bonus declared. The FY2024 bonus marks a 15% increase over the FY2023 bonus, which stood at Rs. 1,201 crores.
Tarun Chugh, MD & CEO, of Bajaj Allianz Life Insurance, said, “We are happy to declare one of the highest bonuses in our history of over two decades. It’s a reflection of the focus we lay on enabling the long-term life goals of our customers in every manner. Our investment strategies that back our value-packed products are designed to ensure we bring our customers closer to their life goals each year. This bonus declaration is one such essential step in that direction. We will continue to work tirelessly towards our customers’ life goals and acknowledge their trust and faith in us through such declarations.”
Bonuses declared in each financial year are accumulated and distributed upon policy maturity or exit. Additionally, cash bonuses will be paid out on specific policy events in accordance with policy conditions.
