Bajaj Allianz Life, a private life insurer, has declared a bonus for the 24th consecutive year, demonstrating its commitment to delivering value to customers through effective fund management and surplus distribution. The bonus will be distributed to policyholders of the company’s traditional participating products, including Bajaj Allianz Life Ace, Bajaj Allianz Life Ace Advantage, and Bajaj Allianz Life Elite Assure. These plans are designed to provide long-term savings and life cover, and the bonus will enhance their value proposition at policy maturity or exit.
The bonus declaration is a result of the company’s prudent fund management and surplus distribution from the participating fund. The company has consistently delivered value to its customers over the years, and this bonus declaration is a testament to its long-standing track record. The bonus will be a welcome addition to the policyholders, who will receive a significant amount at the time of policy maturity or exit.
In addition to the regular bonus, the company has also announced a special reversionary bonus of 5% for policyholders of its higher equity allocation products, including Bajaj Allianz Life ACE – Wealth Option and Bajaj Allianz Life Flexi Income Goal – Enhanced Benefit. This bonus amounts to ₹206 crore and is specifically designed for customers who have opted for these non-linked, participating, guaranteed income life insurance plans. These products cater to customers seeking a balance of long-term returns and insurance coverage, and the special reversionary bonus will provide them with an additional benefit.
The bonus declaration is a significant move by the company, and it demonstrates its commitment to providing value to its customers. The company’s decision to announce a special reversionary bonus for policyholders of its higher equity allocation products is a testament to its focus on customer needs and its efforts to provide tailored solutions to meet those needs. Overall, the bonus declaration is a positive development for policyholders of Bajaj Allianz Life, and it reinforces the company’s position as a leading player in the life insurance industry.