Bajaj Allianz Life creates milestone with 45% growth in New Business Premium in Punjab in Q1 FY19
Author(s): City Air NewsChandigarh, August 6, 2018: Bajaj Allianz Life Insurance Company, one of India’s leading private life insurers, achieved a milestone by registering 45% growth in New Business Premium in the Punjab region in Q1 FY18-19...
Chandigarh, August 6, 2018: Bajaj Allianz Life Insurance Company, one of India’s leading private life insurers, achieved a milestone by registering 45% growth in New Business Premium in the Punjab region in Q1 FY18-19 over the corresponding period of the last fiscal. The total sum assured has also witnessed a growth of 39% in the Q1 of the current year.
In Punjab the total number of policies stood at 1,137, registering a 13% growth as compared to 1,007 in Q1 FY17-18. In the region, the insurance company has also seen a 19% increase in its number of lives covered to 1,137 as against 954 in Q1 FY18.
Commenting on the growth achieved by the company in the region, Bajaj Allianz Life’s MD and CEO Tarun Chugh said, “Our growth in the region is a testimony of the faith our customers have reposed on us. Punjab is a key market for us, and through innovative products, and customer friendly technology we will continue to offer life insurance solutions for our customers, to help them achieve their life goals. We are targeting affluent customers and continuously investing in our technology, training and outreach programs to help us reach these customers in a better manner, as well as further delight our existing partners and customers.”
To ensure each customer’s life goals are met, Bajaj Allianz Life Insurance launched a value-packed investment solution, Bajaj Allianz Life Goal Assure and Bajaj Allianz Life Goal Based Savings. Bajaj Allianz Life Goal Assure is a life goal based investment plan (ULIP) which provides the customer with a choice of eight funds, four investment strategies, return of mortality charge on policy maturity, tax-free returns on investment and life cover, making it one of the best investments money can buy.
Furthermore, one can opt for maturity benefit in installments by staying invested in fund(s) of one’s choice and get the benefit of Return Enhancer, which is an addition of 0.5% of each due installment.
Bajaj Allianz Life Goal Based Savings is the latest ULIP added to its product portfolio for customers who are keen to take advantage of the country’s equities market. The product comes with a host of unique features for customers who would like to invest towards their life goals in a regular manner. The ULIP comes with features like Return of Life Cover Charges and Return Enhancer that enhances the customer’s corpus on maturity.