Allianz Bajaj Life maiden bonus
By Our Banking Bureau | 09 Sep 2003
Chennai: Private life insurer Allianz Bajaj Life Insurance Company, a joint venture between Allianz AG of Germany and Bajaj Auto, has announced its maiden bonus for its policyholders.
The compounded reversionary bonus is declared on the sum assured up to March 2002-03. The company has also declared a special bonus that will be applicable to all regular premium with-profits policies in force as on 31 March 2003.
The total bonus rate for the endowment policy branded as Invest Gain will be 2.5 per cent per annum of the sum assured, of which 2 per cent will be compounded reversionary bonus and 0.5 per cent will be special bonus.
Bonuses once declared by the company are fully guaranteed. If this declaration were repeated every year, which should not be expected, the policyholder will receive a return of up to 6.3 per cent on premiums paid in the long term, in addition to the valuable life protection benefits.
Says
Allianz Bajaj Life CEO James Walton: "The special
bonus reflects the strong performance of our investments
during this period." The bonus rate for all other
types of regular premium policies like Save Care, Cash
Care, Lifetime Care and Child Care will be a total of
1.25 per cent of the sum assured (inclusive of the special
bonus).
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation