Bajaj Allianz Life Insurance declares bonus including payment of Cash Bonus to its policyholders amidst COVID-19 crisis
At a time when most of the country is facing a liquidity crunch and are looking for financial assistance, Bajaj Allianz Life Insurance, one of India’s leading private life insurer has declared Bonus in its participating plans including payment of Cash Bonus* as on 31 March 2020. The Company has declared Reversionary, Cash and Terminal bonus for FY2019-2020, which is expected to benefit 12 lakhs policyholders who have stayed invested and entrusted their faith in the Company.
Commenting on the announcement, Tarun Chugh, Managing Director and Chief Executive Officer, Bajaj Allianz Life Insurance said, “Our commitment towards our customers’ life goals continues to be our key priority even during these unprecedented times. Last year was a productive year, and we are now sharing the outcomes of the year, as Bonus with our 12 lakhs policyholders. This additional financial support through Cash Bonus, we are sure, will enable several of our customers meet some of their immediate financial requirements, or plan for their life goals ahead.”
The bonus rates announced by Bajaj Allianz Life applies to all 19 of its participating plans. All in force policies will be entitled to the Reversionary Bonus, Terminal Bonus and Cash Bonus as applicable. The Cash and Terminal bonus will also be payable to paid-up policies.
*Cash Bonus is payable only where it is applicable. Refer to the terms and conditions of the policy to know more