MoU is for providing insurance to Naval civilians
FinTech BizNews Service
Mumbai, 15 October, 2024: The Indian Navy, on 08 October 2024, signed a Memorandum of Understanding with one of India’s leading private life insurers to provide life insurance solutions to the civilian personnel of the Indian Navy. As part of this collaboration, Bajaj Allianz Life will offer a variety of life insurance products, ensuring comprehensive coverage at affordable rates.
Highlighting the importance of the occasion as part of activities for the ‘Year of Naval Civilians,’ Vice Admiral Sanjay Bhalla, Chief of Personnel, appreciated the life insurance solutions offered by Bajaj Allianz Life, which have been specifically tailored to meet the needs of Indian Navy civilians.
Mr. Tarun Chugh, MD & CEO, Bajaj Allianz Life Insurance, said, "It is indeed a proud moment for all of us at Bajaj Allianz Life, to have an opportunity to offer life insurance services to the Indian Navy Civilians. In line with the Indian Navy’s 2024 – Year of Naval Civilians – we will commence our operations for the Naval Civilians. I believe it will also be a huge step towards taking the benefits of life insurance to many more Indians and taking critical steps towards bridging the insurance penetration gap within our country. We will ensure we deliver only the most effective and seamless solutions to the Indian Navy.”
Bajaj Allianz Life’s offerings under this partnership include a range of life insurance solutions to meet the varied life goals of the civilians associated with the Indian Navy. Educational seminars and sessions will be conducted to help Indian Navy civilian personnel understand the importance of term insurance and adequate life insurance coverage to secure their life goals. The Company will also introduce unique processes catering specifically to the unique needs of naval civilians.
