Insurance News Details

Tata AIA Life Insurance announces Rs 1,183 crore bonus to policyholders

(21-Jun-23   12:55)

Tata AIA Life Insurance on wednesday declared a bonus of Rs 1,183 crore for participating (PAR) policyholders for the financial year FY23, which is 37% higher than the Rs 861 crore bonus announced during the previous fiscal FY22. This is the highest till date announced by the insurer.

According to the report, a total of 7.4 lakh participating policyholders are eligible for the bonus and will benefit over the next 12 months.

Samit Upadhyay, President and Chief Financial Officer, Tata AIA Life Insurance, said, ?At Tata AIA, we are driven by our core value of Consumer Obsession. Our endeavor is to partner our consumers in their financial well-being and this bonus announcement is a demonstration of our commitment to our policyholders in this regard. We will continue to work hard to ensure that Tata AIA's consumers are financially secure and rewarded for their loyalty.

Tata AIA Life insurance participating (Par) products offer life insurance cover, income, as well as lump-sum benefits in the form of bonuses.

The company said that, investing in these solutions offers consumers the opportunity to grow their investments without taking on the risks associated with market-linked products.

Cash bonuses provide liquidity and help the consumers generate wealth through a terminal bonus component in addition to a life cover throughout the term of the policy.

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