Private insurance company Tata AIA Life Insurance Company Ltd announced to give bonus to its policy holders on Tuesday 9 August. The company said that it will give a bonus of Rs 861 crore to its policyholders for FY 2022. This is the 5th consecutive year when Tata Aia has announced a bonus to its policyholders. Also, the company has announced to give 20 per cent more bonus this year than in FY 2021.
Tata Aia Life said that this bonus will be available to all the policyholders who have taken or run the company’s policy before 31 March 2022. Tata AIA Life is one of the fastest growing private insurance companies in the country.
The company’s Chief Financial Officer Samiti Upadhyay said, “The main goal of whatever we do in Tata Aia is to reach the financial benefits of our customers in the long term and we try to ensure that they should be financially safe. The idea of our long-term fund management and consciously made investment and ravages have made us decide our customers.”
Together, Tata Aia Life’s Individual Wasted New Business Premium (IWNBP) Income increased by 30 per cent to Rs 4,455 crore in Income FY 2022. The company’s IWNBP income was Rs 3,416 crore in the last financial year.
Know what is bonus?
The bonus given by any company is part of the profit produced by the funds installed by the policy holders. Which is given to the policy holders as a guaranteed maturity benefit. Which increases his funds. This is the 5th consecutive year when the company has announced the bonus.
