Tata AIA Life on Tuesday announced record annual bonus 861 crore for its policyholders for the financial year 2021-22. According to the company, this is the fifth consecutive annual bonus for its policyholders. Tata AIA Life said in a statement that the FY 2012 bonus has become 20% more than the bonus paid in FY 2012.
“Tata AIA Life Insurance Company Limited (Tata AIA), one of the fastest growing private life insurance companies, has announced a bonus of Rs 861 crore for FY 2022 to all eligible participating policyholders,” the company said in a statement. has announced.”
It states, “All participating policies in force up to March 31, 2022 are eligible to receive this annual bonus, which will be added to the benefits of the policyholders”.
“At Tata AIA, the long-term financial well-being of our consumers is at the core of everything we do, and it is our endeavor to ensure that they are financially secure. Our long-term fund management philosophy and prudent investment and risk management The policies have enabled us to announce a strong bonus to our consumers. We are sure it will go a long way in meeting their security and long-term savings needs. Samit Upadhyay, Chief Financial Officer, Tata AIA Life said, Committed to providing significant value to our consumers through our high-end and consumer-friendly insurance solutions.
According to Morningstar Ratings, 99.83% of Tata AIA’s rated AUM is rated 4 Star or 5 Star on a 5-year basis as on March 31, 2022.
The company reported an Individual Weighted New Business Premium (IWNBP) income 4,455 crore for the financial year 2021-22, an increase of 30% over 3,416 crore for FY22.
How is life insurance bonus calculated?
The bonus declared by the life insurance company is based on the returns from securities and other investments made.
It can be a fixed amount per Rs. 1000. For example, suppose the bonus is Rs. 50 for each 1,000. In that case, if the sum insured for the life insurance policy is 5 lakhs, then the bonus amount is 25,000.
The calculated bonus is generally provided to the nominee in the form of maturity benefit or in case of death benefit. It is also provided when the policy is surrendered. Some insurers allow policyholders to redeem the bonus during the policy term.
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