The Indian Navy and Bajaj Allianz Life signed an MoU for the welfare of Naval civilian personnel.
Banking & Finance
The Indian Navy (IN) has entered into a Memorandum of Understanding (MoU) with Bajaj Allianz Life Insurance Company Limited (BALIC), a Pune-based private life insurer, to boost the welfare of its civilian personnel.
- This partnership is part of the IN's initiative, designating 2024 as the 'Year of Naval Civilians,' which focuses on improving the work environment and welfare measures for civilian staff.
- The collaboration seeks to offer customized life insurance solutions tailored to meet the specific needs of naval civilians.
Main Points:- (i) BALIC will provide tailored life insurance products, including term plans, at affordable premiums for naval civilians.
(ii) Immediate financial aid will be available for families in the event of an employee's untimely death.
(iii) Customized processes will be introduced to streamline insurance management for naval civilians.
About Indian Navy(IN)
Chief of Naval Staff (CNS)- Dinesh K Tripathi
Vice Chief of the Naval Staff (VCNS)- Krishna Swaminathan
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