बजाज आलियांज लाइफ इंश्योरेंस ने ₹1,383 करोड़ के सर्वकालिक उच्च बोनस की घोषणा की।

बजाज आलियांज लाइफ इंश्योरेंस ने ₹1,383 करोड़ के सर्वकालिक उच्च बोनस की घोषणा की।

Bajaj Allianz Life Insurance declares all-time high bonus of ₹1,383 crore.

Bajaj Allianz Life declares record ₹1,383 crore bonus for FY24, benefiting over 11.66 lakh policyholders.

  • Business
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  • 02, May, 2024
Jyoti Ahlawat
Jyoti Ahlawat
  • @JyotiAhlawat

Bajaj Allianz Life Insurance declares an all-time high bonus of ₹1,383 crore.

Bajaj Allianz Life, a private life insurance provider, has revealed its record-breaking bonus of ₹1,383 crore for the fiscal year 2023-2024 (FY24), benefiting more than 11.66 lakh policyholders.

This bonus is available to holders of traditional participating (with-profit) policies and is derived from the surplus generated within the participating (with-profits) funds, the insurer has stated. All participating policies active as of March 31, 2024, qualify for this bonus.

Policyholders enrolled in participating products such as Bajaj Allianz Life Flexi Income Goal, Bajaj Allianz Elite Assure, and Bajaj Allianz Life Ace will enjoy the advantages of this declared bonus.

The FY24 bonus represents a 15% increase compared to the FY23 bonus of ₹1,201 crore, according to the insurer.

Understanding Insurance Bonuses

Certain life insurance policies distribute a portion of their profits as bonuses, which are paid out to policyholders upon reaching specific milestones. In essence, akin to employees receiving bonuses as additional rewards beyond their base salaries, a similar principle applies within the domain of life insurance companies.

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Jyoti Ahlawat

Jyoti Ahlawat

  • @JyotiAhlawat