Advanced Payment
Ceylinco Life Advance Payment is an exceptional policy through which you can plan your future well in advance.
This unique product will provide you an investment opportunity, enabling you to plan your long term and short term financial requirements that you anticipate, as well as offering a significant life cover, ensuring yours and your family’s well-being.
Hence without a worry you can face life transitioning events such as taking a step in investing in your child’s primary, secondary or the tertiary education, building that house in the country you always wanted or planning for your children’s’ wedding.
How it works
Advance Payment covers two significant components; financial return and protection.
The life cover in the policy provides comprehensive protection and you will receive advanced payments of your assured sum, periodically and before the term of your policy ends.
Benefits
Advanced payments will be before the policy term ends, periodically, therefore giving you an early return and the possibility to plan for your future expenses in advance.
In the event of an unfortunate demise of the policyholder, the life cover will be immediately paid to the beneficiary with no deductions of the advanced payments already made.
Example:
If the policyholder is 30 years old with a basic cover of Rs.500,000/=, for a term given in the chart, the said policyholder will get periodic lump sum payments (see chart) until the policy reaches maturity. At the end of the term, you will receive the balance of the sum assured with bonuses accumulated over the policy period.
Term |
Advance payment |
As a Sum Assured |
Actual Rupee Value (Rs.) |
|---|---|---|---|
|
10 years |
3rd year |
20% |
100,000 |
|
15 years |
4th year |
20% |
100,000 |
|
20 years |
4th year |
15% |
75,000 |
|
25 years |
5th year |
15% |
75,000 |
Who can apply
If you are aged between 18-60 years you are eligible to purchase this policy for a period of 10, 15, 20 or 25 years
Payment Modes
This policy can be paid in Monthly, Quarterly, Half-Yearly and Annual modes.
Rider Benefits
The following rider plans can be added on to your life plan as additional protection.
- Ceylinco Life Family Protection Benefit
- Ceylinco Life Jeewa Yathra
- Ceylinco Life Yugadivi
- Ceylinco Life Family Income Benefit
- Ceylinco Life Family Digasiri
- Ceylinco Life Major Surgery
- Ceylinco Life Family Hospital Cash
- Ceylinco Life Extra Cover
- Ceylinco Life Health Support Plus
Additional Benefits
Ceylinco Life Advance Payment Plan policyholders will be eligible for additional rewards as a tribute for their loyalty. All policyholders stand a chance to take part in the Ceylinco Life Family Savari consumer promotion and their children are also eligible for the Pranama Scholarship scheme.
