Sri Lanka Insurance (SLI) has paid the highest year-on-year Life Insurance bonus since 2006, creating a landmark in the local insurance industry.
Sri Lanka Insurance, Chief Executive Officer Chandana L. Aluthgama, said that this amounts to Rs. 92.8 billion.
“By declaring the highest and largest ever Life Insurance Bonus in the country, Sri Lanka Insurance has upheld the trust placed by the policyholders as the strongest insurance provider in Sri Lanka,” he said. Despite the challenging market conditions, Sri Lanka Insurance increased its asset base to Rs. 274 billion and the life fund to Rs. 156.7 billion, to further strengthen its position as the largest and strongest local insurer.
This affirms the prudent investment management strategies of the company and further emphasises its commitment to policyholders.
“Last year SLIC paid, on average, Rs. 960 million per month as Life Insurance claim settlement demonstrating its commitment to delivering on its promise to policyholders,” Aluthgama said.
A unique insurance cover that was introduced by Sri Lanka Insurance last year was the School Fee Protector. This cover takes care of children’s education expenses in an unlikely event of loss or permanent disability of the breadwinner of the family.
Last year Sri Lanka Insurance also introduced a Life Loyalty Rewards scheme enabling SLIC Life customers to enjoy a range of offers and benefits to provide higher value for its loyal customers throughout the policy term.
Sri Lanka Insurance believes in embracing technology to transform the insurance landscape of the country and expedite the digital integration of insurance products.
“Due to this, last year all bonus certificates were issued through digital platforms via SMS, email and the SLIC Mobile App which is available on Apple App Store and Google Playstore,” he said.