Bajaj Allianz Life Insurance launches VEER for the Defence and Central Armed Police Forces
Bajaj Allianz Life Insurance launches VEER – a new initiative to help the country’s bravehearts fulfil their Life Goals
Exclusive business channel for the Defence and Central Armed Police Forces
Pune, 14 September 2022: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, launched VEER – a dedicated initiative for the Defence and Central Armed Police Forces (CAPF), which will enable them to financially secure their families. As part of this new business channel, the Company will offer innovative life insurance solutions and exclusive services for the country’s bravehearts to enable them to get their long-term life goals done.
Commenting on the initiative, Mr. Amit Jaiswal, Chief BALIC Direct Officer, Bajaj Allianz Life Insurance, said, “The defence forces form the backbone of the country as they risk their lives to protect the citizens even in adverse situations. VEER is our endeavour to not just thank them for their selfless services, but also create awareness about life insurance and help them achieve their life goals. Along with value-packed life insurance products, we will also offer them exclusive services that will help them create a financial safety net for their families.”
The Company will offer Bajaj Allianz Life Assured Wealth Goal – Wealth Creation through VEER for the Defence and CAPF. This is a non-linked, non-participating, individual, life insurance savings plan, which offers guaranteed income for securing one’s life goals such as children’s higher education or marriage, foreign vacation, building a house, etc.
Key features of VEER channel:
· Flexibility to pay policy premium on a monthly basis
· Guaranteed lumpsum amount (on select product variants) at the end of the policy term
· Provides cover for war & war-like situations
· Exclusive services such as minimum documentation, instant policy issuance, and no medical tests
· Self-servicing digital assets for quicker customer service
Additionally, as part of the VEER initiative, Bajaj Allianz Life Insurance aims to empower retired Armed Services personnel and Veer Naaris (war widows) by providing career opportunities to them across the Company’s offices.