Ceylinco Life policyholders celebrate â€˜Avuruduâ€™ with cash bonuses
Life insurance leader to home deliver Rs 31.7 million
between 6-10 April
Nearly 10,000 policyholders will shortly receive some extra cash with which to celebrate the national New Year courtesy of Ceylinco Life.
Continuing a unique tradition that dates back to 2004, the life insurance leader has announced that it will home deliver Rs 31.7 million in cash bonuses to these policyholders between 6th and 10th April.
The bonuses, in the form of immediately encashable cheques, are a reward for loyalty, and are in addition to the annual bonuses that Ceylinco Life policyholders receive.
Policyholders who have completed 20 years are eligible to receive a cash bonus computed at Rs 75 per Rs 1,000 sum assured. Cash bonuses for those who have completed 15 years are computed at Rs 50 per Rs 1,000 sum assured while those who have completed 10 years will receive Rs 25 per Rs 1,000 sum assured.
On this basis, a participating policy with a sum assured of Rs. 1 million will be entitled to a cash bonus of Rs 25,000 on completion of 10 years, Rs 50,000 on completion of 15 years and Rs 75,000 on completion of 20 years.
â€œOur policyholders are our biggest asset, and we see no reason not to be generous in rewarding them for loyalty,â€ said Mr. R. Renganathan, Ceylinco Lifeâ€™s Managing Director and CEO. â€œThis is the 10th year that Ceylinco Life is paying cash bonuses, and our policyholders are most appreciative of this voluntary gesture by the company.â€
He said the cumulative value of cash bonuses paid by Ceylinco Life every April over the past 10 years, exceeds Rs 256.6 million.
Independently rated one of Sri Lankaâ€™s most valuable brands, Ceylinco Life has maintained its leadership of the countryâ€™s long term insurance sector from 2004 onwards. The company operates the largest branch network among local life insurance companies, and has won multiple international and local awards for its commitment to the community and success in brand equity building.