Bajaj Allianz Life bonus announced: Over 11.66 lakh policyholders to benefit from the Rs 1,383 crore bonus for FY2024. The FY2024 bonus marks a 15 per cent increase over FY2023 bonus, which stood at Rs 1,201 crores.
Bajaj Allianz Life bonus announced: Leading private life insurer Bajaj Allianz Life has announced bonuses for the 23rd consecutive year for over 11.66 lakh policyholders who have invested in the company’s participating products.
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For FY2024, the company has declared its highest bonus declaration ever at Rs 1,383 crores.
The FY2024 bonus marks a 15 per cent increase over FY2023 bonus, which stood at Rs 1,201 crores.
Bajaj Allianz Life bonus announced: Eligibility, Who is eligible?
As per the company, policyholders with traditional participating (with-profit) policies are eligible to receive this bonus.
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As per Bajaj Allianz Life, the bonus has been declared from the surplus generated under the participating (with-profits) funds.
All participating policies that were in force as on March 31, 2024, are eligible to receive this bonus.
Policyholders of participating products like Bajaj Allianz Life Flexi Income Goal, Bajaj Allianz Elite Assure, Bajaj Allianz Life Ace, amongst others stand to benefit from the bonus declared.
Informing about the bonus, 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 of 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 gaols 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.”
As per the company, bonuses declared in each financial year are accumulated and distributed upon policy maturity or exit.
Additionally, cash bonuses are paid out on specific policy events in accordance with policy conditions.
