Private life insurer Bajaj Allianz Life has announced a one-time special bonus for all its policyholders who have participating policies in force as on March 31, 2018. The one-time special bonus is over and above the compounded reversionary bonus declared for respective participating plans.
The statement by the insurance companies said that this move will benefit over 1.3 million policyholders of the company.
The one-time special bonus has been declared only for the FY18 at 1 percent of the base sum assured that is payable at the time of claim. Along with the one-time special bonus, Bajaj Allianz Life Insurance Company has also declared the yearly compounded reversionary bonus.
The Compounded Reversionary Bonus is computed on the sum assured and all accumulated bonuses.
Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance said that the company has realized capital gains and have decided to share this with in-force policyholders.
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