Sanjiv Bajaj, MD, Bajaj Finserv. says he says the big growth numbers this quarter came from Bajaj Finance and Bajaj Allianz General Insurance, whereas Bajaj Allianz Life insurance has seen a drop as the industry has contracted because of the number of new product regulations in the recent past.
Life insurance contributes 4.1 percent of GDP and also forms a significant chunk of household savings. In order to boost life insurance, levying of service tax should be revisited in order to make the product attractive.
Insurance sector watchdog IRDA today has imposed a fine of Rs 5 lakh on Bajaj Allianz Life Insurance for violating regulations pertaining to group unit-linked policies.
Private insurer Bajaj Allianz Life Insurance today launched a new unit-linked plan – Guaranteed Maturity Insurance Plan (GMIP) - at maturity that will provide at least 200% of the amount invested along with a secure life cover.
In an interview with CNBC-TV18, Subhash Lakhotia, Tax Guru; Sanjay Sinha, CEO of L&T Mutual Fund and Kamesh Goyal, Country Head of Bajaj Allianz Life Insurance evaluate the Union Budget and its impact on your wallet.