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Indian Navy signs MoU with Bajaj Allianz for naval civilian insurance

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Indian Navy signs MoU with Bajaj Allianz for naval civilian insurance
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Srotaswini Mohapatra

Pune, 11 Oct 2024

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The Indian Navy is dedicated to excellence, innovation, adaptability, and enhanced functional efficiency in HR management for civilian personnel. A key objective in achieving this goal is to foster a culture of inclusivity and instill a strong sense of belonging through various welfare measures.

To further this commitment, 2024 has been declared the “Year of Naval Civilians.” This initiative aims to enhance the overall work environment for naval civilians and prioritize welfare measures that improve quality of life.

One significant concern for naval civilians is providing monetary relief to the families of employees in the event of an untimely death. Life insurance is crucial for financially supporting bereaved families. In response, the Indian Navy has entered into a Memorandum of Understanding (MoU) with Bajaj Allianz Life Insurance Company to offer a diverse portfolio of insurance products, including term insurance, at affordable premiums. Naval civilians can voluntarily opt for this insurance, which will provide instant financial relief in case of the policyholder’s death or other covered eventualities.

Highlighting the importance of this initiative as part of the activities for the “Year of Naval Civilians,” Vice Admiral Sanjay Bhalla, Chief of Personnel, praised the life insurance solutions provided by Bajaj Allianz Life. These solutions have been specifically tailored to meet the needs of Indian Navy civilian personnel. He reaffirmed the Indian Navy’s commitment to the welfare of naval civilians and their families.

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