Tata AIA announces its highest ever bonus payout of INR 1,465 crores

 Tata AIA Life Insurance Co. Ltd, one of India's leading life insurers, has declared a bonus of INR 1,465 crores for Participating policyholders for the financial year 2024. The bonus payout announced is the highest ever paid by the Company, showcasing an increase of 24% over the INR 1,183 crore bonus announced in FY23. Tata AIA's strong investment management capabilities and robust risk management practices have consistently resulted in higher bonuses for participating policy holders. This is also one of the reasons that the company enjoys the trust of its consumers, as they continue to renew their policies. During FY24, Tata AIA achieved industry-leading Persistency performance (based on premium), ranking #1 in 4 cohorts - 13th Month (89.40%), 25th Month (80.70%), 37th Month (75.00%) and 49th Month (73.10%). Persistency ratio indicates the percentage of policyholders who renew their life insurance policy every year, demonstrating their loyalty and trust in the brand.

Tata AIA offers a range of Participating products that help consumers accumulate wealth or earn income, to secure their family and fulfil their aspirations. These products offer life insurance cover, income, as well as regular or lump-sum benefits in the form of bonuses. Consumers can grow their investments through these solutions without taking any risks associated with market-linked investments. One such product is Tata AIA Smart Value Income Plan, that gives policyholders the option to receive cash bonus as early as one week from the date of purchasing a policy, along with life cover. Moreover, policyholders can choose the sub wallet option, wherein they can park the cash bonus received and earn interest on the same. The product provides the option of receiving income till 100 years of age.

Kshitij Sharma, Executive Vice President and Appointed Actuary, Tata AIA, said, “We are delighted to deliver yet another year of excellent performance of bonus payout in our participation policies. Tata AIA's record bonus announcement underscores our commitment to rewarding our policyholders for their trust. Providing superior returns to our policyholders is our continuous endeavor, enabling our consumers to live a fikar-free life and fulfill their aspirations towards their loved ones.”

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