The total number of policies in the region stood at 2,097 registering a 47% growth, as compared to 1,425 in Q1 FY17-18.
Commenting on the growth achieved by the company in the state, Bajaj Allianz Life’s MD and CEO Tarun Chugh said, ”Our growth in the state is a testimony of the faith our customers have reposed on us. Karnataka 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 continuously investing in our outreach programs to help us reach new customer segments, as well as to further delight our existing partners and customers.”
To ensure each customer’s life goals are met, Bajaj Allianz Life Insurance launched value-packed investment solutions - 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 charges on policy maturity, tax-free returns on investment and life cover, making it one of the best investment solutions.
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.