Bajaj Allianz Life Announces Bonus For FY25, To Benefit Policyholders

For FY2024–25, Bajaj Allianz Life Insurance has announced a bonus of Rs 1,833 crore, the highest in its history. This marks a 32 per cent increase compared to the Rs 1,383 crore declared in FY2023–24. Over 11.71 lakh policyholders with participating (with-profit) life insurance policies could expect this bonus, according to Bajaj Allianz Life Insurance.

Bajaj Allianz Life Insurance states that bonuses are often paid out when the policy expires or the policyholder leaves the plan. Bajaj Allianz Life Ace, Bajaj Allianz Life Ace Advantage and Bajaj Allianz Life Elite Assure are among the products that qualify. These plans are designed to offer long-term value and share surplus earnings from the insurer's participating fund with policyholders.

For policyholders with larger equity allocation plans, Bajaj Allianz Life Insurance has added a special reversionary incentive of 5 per cent in addition to the standard bonus. This special bonus, amounting to Rs 206 crore, will be provided to those with Bajaj Allianz Life ACE – Wealth Option and Bajaj Allianz Life Flexi Income Goal – Enhanced Benefit plans. These plans offer guaranteed income and give policyholders the opportunity to participate in the insurer's profits.

Tarun Chugh, MD & CEO of Bajaj Allianz Life Insurance, said the record Rs 1,833 crore bonus reflects the company's sound investment approach and financial strength. He added that the insurer remains focused on offering solutions aimed at helping policyholders meet their long-term goals.

As per Bajaj Allianz Life Insurance, bonuses are usually paid out either at the time of policy maturity or upon the policyholder's exit from the plan. Additionally, cash bonuses may be paid annually, depending on the specific terms and conditions of each individual policy, providing further value to policyholders.

This announcement follows Bajaj Allianz Life Insurance's ongoing efforts to deliver value to policyholders, with the firm having a long record of bonus declarations.