INDIAN NAVY SIGNS MoU WITH BAJAJ ALLIANZ LIFE INSURANCE FOR PROVIDING INSURANCE TO NAVAL CIVILIANS

Indian Navy is committed to excellence, innovation, adaptability and enhanced functional efficiency in HR management of Civilian Personnel and one of the key objectives to achieve this goal is fostering a culture of inclusivity and inculcating strong sense of belongingness by instituting various welfare measures.

2024 has been declared 'Year of Naval Civilians' by Indian Navy (https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2001395) in order to provide thrust to new initiatives and effectively improve the overall work environment for Naval Civilians. Welfare measures to enhance quality of life is a major focus area in the Year of Naval Civilians.

One of the key concerns for Naval Civilians is monetary relief to the family of Civilian employees in case of untimely death of the incumbent in service. It is of utmost importance to have life insurance to financially support the bereaved family.

IN has accordingly entered into an MoU with Bajaj Allianz Life Insurance Company for offering diverse product portfolio including Term Insurance to Naval Civilians at affordable premiums with various options. The insurance can be availed by Naval Civilians on a voluntary basis. This will help in providing instant financial relief in case of the death of the incumbent or any other eventuality as covered under insurance policy.

Highlighting the importance of the occasion as part activities of the 'Year of Naval Civilians', VAdm Sanjay Bhalla, Chief of Personnel appreciated the life insurance solutions offered by Bajaj Allianz Life, which have been specially tailored to meet the needs of IN Civilian personnel. He reiterated IN's commitment towards welfare of Naval Civilians and families.

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VM/SPS 201/24