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Home / Insurance / News /  This insurance company pays annual bonus of over 860 crore to policyholders. See details

This insurance company pays annual bonus of over 860 crore to policyholders. See details

TATA AIA Life on Tuesday announced a record annual bonus of 861 crore for its policyholders

  • TATA AIA said that all participating policies in-force as of March 31st, 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits

TATA AIA Life on Tuesday announced a record annual bonus of 861 crore for its policyholders for the financial year 2021-22. According to the company, it is its fifth consecutive annual bonus for its policyholders. The FY22 bonuses have exceeded the bonus paid in FY2021 by 20%, Tata AIA Life said in a statement.

TATA AIA Life on Tuesday announced a record annual bonus of 861 crore for its policyholders for the financial year 2021-22. According to the company, it is its fifth consecutive annual bonus for its policyholders. The FY22 bonuses have exceeded the bonus paid in FY2021 by 20%, Tata AIA Life said in a statement.

"Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of the fastest-growing private life insurers has declared a bonus of INR 861 crores for FY2022 to all eligible participating policyholders," the company said in a statement.

"Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of the fastest-growing private life insurers has declared a bonus of INR 861 crores for FY2022 to all eligible participating policyholders," the company said in a statement.

It added, "All participating policies in-force as of March 31st, 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits".

It added, "All participating policies in-force as of March 31st, 2022, are eligible to receive this annual bonus, which will be added to the policyholders’ benefits".

“At Tata AIA, the long-term financial wellbeing of our consumers is at the core of everything we do, and it is our endeavor to make sure they are financially secure. Our long-term fund management philosophy and prudent investment & risk management policies have enabled us to declare a robust bonus to our consumers. We are sure this will go a long way in meeting their protection and long-term saving needs. We remain committed to offering significant value to our consumers through our highly rated and consumer-friendly insurance solutions," Samit Upadhyay, Chief Financial Officer, Tata AIA Life said.

“At Tata AIA, the long-term financial wellbeing of our consumers is at the core of everything we do, and it is our endeavor to make sure they are financially secure. Our long-term fund management philosophy and prudent investment & risk management policies have enabled us to declare a robust bonus to our consumers. We are sure this will go a long way in meeting their protection and long-term saving needs. We remain committed to offering significant value to our consumers through our highly rated and consumer-friendly insurance solutions," Samit Upadhyay, Chief Financial Officer, Tata AIA Life said.

As per the Morningstar Ratings, 99.83% of the rated AUM of Tata AIA is rated either 4 stars or 5 stars on a 5-year basis as of March 31st, 2022.

As per the Morningstar Ratings, 99.83% of the rated AUM of Tata AIA is rated either 4 stars or 5 stars on a 5-year basis as of March 31st, 2022.

The company recorded an Individual Weighted New Business Premium (IWNBP) income of 4,455 crore for the financial year 2021-22, a growth of 30% compared to 3,416 crore for FY22.

The company recorded an Individual Weighted New Business Premium (IWNBP) income of 4,455 crore for the financial year 2021-22, a growth of 30% compared to 3,416 crore for FY22.

How is the life insurance bonus calculated?

How is the life insurance bonus calculated?

The bonus declared by a life insurance company is based on the return from securities and other investments made.

The bonus declared by a life insurance company is based on the return from securities and other investments made.

It can be a certain amount per Rs. 1000. For example, suppose the bonus is Rs. 50 for every 1,000. In that case, if the sum assured for a life insurance policy is 5 lakhs, then the bonus amount is 25,000.

It can be a certain amount per Rs. 1000. For example, suppose the bonus is Rs. 50 for every 1,000. In that case, if the sum assured for a life insurance policy is 5 lakhs, then the bonus amount is 25,000.

The calculated bonus is generally provided as a maturity benefit or to the nominee in case of a death benefit. It is also provided when the policy is surrendered. Some of the insurers allow the policyholders to encash the bonus during the policy term.

The calculated bonus is generally provided as a maturity benefit or to the nominee in case of a death benefit. It is also provided when the policy is surrendered. Some of the insurers allow the policyholders to encash the bonus during the policy term.

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