Indian Navy signed a MoU with Bajaj Allianz Life Insurance to provide insurance solutions to naval personnel.
The Indian Navy has signed a Memorandum of Understanding (MoU) with Bajaj Allianz Life, one of the leading private life insurance companies in the country, to provide life insurance solutions to naval personnel. Under this MoU signed on October 8, 2024, Bajaj Allianz Life will provide a variety of life insurance products ensuring comprehensive coverage at affordable rates.
Highlighting the significance of the occasion as a part of the activities organized under the ‘Year of Naval Civilians’, Chief of Personnel Vice Admiral Sanjay Bhalla appreciated the life insurance solutions offered by Bajaj Allianz Life, which are specially designed to meet the needs of Indian Navy civilians.
Tarun Chugh, MD and CEO, Bajaj Allianz Life Insurance said, “It is indeed a proud moment for all of us at Bajaj Allianz Life to have the opportunity to provide life insurance services to the personnel of the Indian Navy. In line with the Indian Navy’s vision of ‘2024 – the Year of the Navy Civilians’ – we are making our services available to naval civilians. I believe this will be a big step towards making the benefits of life insurance accessible to more Indians and bridging the insurance penetration gap within our country. We will ensure that we provide the Indian Navy with only the most effective and simple solutions.”
Under this partnership, Bajaj Allianz Life is providing various life insurance products. These are products which are very useful in meeting the various life goals of the Indian Navy civilians. Educational seminars and sessions will also be organized 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 that meet the specific needs of naval civilians.
Vice Admiral Sanjay Bhalla, Chief of Personnel, Indian Navy and other senior officers were present during the signing of the MoU. Amit Jaiswal, Chief Distribution Officer – Proprietary Sales Force and his team from Bajaj Allianz Life were also present on the occasion.
