Business News: Ceylinco Life has announced it will pay up to Rs 1 million more on claims in respect of deaths due to COVID-19 to holders of life policies who pay their premiums on time.
Valid till end September 2020 at no extra charge, the additional cover announced by Sri Lanka’s life insurance market leader will be implemented as a doubling of the basic sum assured, up to a maximum of Rs 1 million in additional life cover per life.
It will be available to all existing life policyholders as a reward for on-time payment of premiums, the Company said.
“Claims pertaining to COVID-19 are covered under all Life and Health policies offered by Ceylinco Life, which makes it extremely important to pay premiums on time,” Ceylinco Life Managing Director Mr Thushara Ranasinghe said. “While we have implemented several measures to help policyholders keep their policies active during these difficult times, this offer of extra cover on life policies will be an added incentive to do so.”
Ceylinco Life is offering multiple online payment and communications options as well as facilitation of settlement of claims, to ensure policyholder requirements are met as they stay safe in their homes to protect themselves, their families and the community against the spread of COVID-19.
The Company has activated web-based, mobile-phone based and app-based payment options to ensure policies will not lapse during the period of curfew and self-quarantine, and its call centre and social media messaging sites have all been activated to respond to customer queries.
Sri Lanka’s leading life insurer for 16 of the 32 years it has been in existence, Ceylinco Life was declared the ‘Peoples Life Insurance Service Provider of the Year’ for the 14th consecutive year at the 2020 SLIM-Nielsen Peoples Awards, and was also adjudged Sri Lanka’s most valuable life insurance brand by Brand Finance in 2019. The Company was also ranked among the 10 ‘Most Admired Companies’ in the country by the ICCSL in 2019 and in the same year was named the Best Life Insurer in Sri Lanka for the sixth consecutive year by World Finance, and ranked sixth overall in the Business Today ranking of the country’s top 30 companies.
Ceylinco Life has close to a million lives covered by active policies and is acknowledged as a benchmark in the local insurance industry for innovation, product research and development, customer service, professional development and corporate social responsibility.