Indian Navy Partners with Bajaj Allianz Life Insurance to Provide Life Insurance Solutions for Naval Civilians
Pune, 14 October 2024: The Indian Navy has signed a Memorandum of Understanding (MoU) with Bajaj Allianz Life Insurance to provide comprehensive life insurance coverage to its civilian personnel. The MoU, signed on 08 October 2024, aims to offer a range of insurance products tailored to meet the specific needs of Indian Navy civilians, ensuring affordable and reliable coverage.
The partnership is part of the Navy’s ongoing initiatives for the ‘Year of Naval Civilians,’ a year-long focus on enhancing the welfare and support of its civilian workforce. Speaking at the event, Vice Admiral Sanjay Bhalla, Chief of Personnel, acknowledged the significance of this collaboration. “We appreciate the tailored life insurance solutions that Bajaj Allianz Life has brought to our civilians. These offerings are a step forward in ensuring that our naval civilians have access to reliable and cost-effective life insurance coverage,” he said.
Bajaj Allianz Life Insurance, one of India’s leading private life insurers, expressed its pride in being part of this initiative. Mr. Tarun Chugh, Managing Director and CEO of Bajaj Allianz Life Insurance, remarked, “It’s an honor for us to serve the Indian Navy civilians. Through this partnership, we are taking a significant step towards expanding life insurance coverage to more Indians, particularly those who serve the nation. Our goal is to provide seamless and effective insurance solutions that meet the unique needs of naval civilians.”
Under this partnership, Bajaj Allianz Life Insurance will offer a range of products designed to meet the diverse life goals of Navy civilians, including term insurance plans and other life insurance solutions. Additionally, the company will organize educational workshops to raise awareness about the importance of life insurance and help Navy civilians make informed decisions about securing their financial futures.
Specialized processes will be introduced to cater specifically to the needs of naval civilians, ensuring smooth and hassle-free access to insurance services. The Indian Navy and Bajaj Allianz Life Insurance aim to enhance the overall welfare of naval civilians by providing them with the tools and resources to secure their families and futures.
The MoU signing ceremony took place in the presence of Vice Admiral Sanjay Bhalla, senior officials from the Indian Navy, and representatives from Bajaj Allianz Life Insurance, including Amit Jaiswal, Chief Distribution Officer – Proprietary Sales Force, along with his team.
