Private sector Bajaj Allianz Life Insurance has declared bonus in its participating plans, including payment of cash bonus as on March 31 at a time when businesses are facing a liquidity crunch due to the impact of coronavirus pandemic.

The insurer has declared reversionary, cash and terminal bonus for 2019-20, which is expected to benefit 12 lakh policyholders who have stayed invested and entrusted their faith in the company, Bajaj Allianz Life Insurance said in a statement.

"This additional financial support through cash bonus (payable only where it is applicable), we are sure, will enable several of our customers meet some of their immediate financial requirements, or plan for their life goals ahead," it said.

The bonus rates announced by Bajaj Allianz Life apply to all 19 of its participating plans.