Capital guarantee scheme from Bajaj Allianz Life Insurance

Visakhapatnam, December 14, 2006

Fund to be launched in 2007

The Bajaj Allianz Life Insurance (BALI) is launching a Capital Guarantee Fund in the next year. The Chief Executive Officer Sam Ghosh speaking to media said that the money invested in the CGF will be returned to the policy holders irrespective of market variations. He said that it would expand its net work of insurance consultants to nearly two lakhs by the end of 2007-2008 from the existing 1.7 lakhs.

He said that the company’s capital would go up by Rs. 100 crore in 2007-08 from the existing Rs. 570 crores. He added that it has over 15 lakh policy holders in the country and is expecting substantial growth in the years ahead due to its focus on marketing and good will generated by claim settlement rate which hovers around 97 percent.

It has launched Capital Unit Gain regular premium plan a couple of days ago which received tremendous response. It promises allocation of 97 percent in all policy years and it has tax benefit on premiums.

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