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.
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.
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 7th year 10th year |
20% 25% 55% + bonus |
100,000 125,000 275,000 + bonus |
| 15 years | 4th year 10th year 15th year |
20% 25% 55% + bonus |
100,000 125,000 275,000 + bonus |
| 20 years | 4th year 10th year 15th year 20th year |
15% 20% 20% 45% + bonus |
75,000 100,000 100,000 225,000 + bonus |
| 25 years | 5th year 10th year 15th year 20th year 25th year |
15% 20% 20% 20% 25% + bonus |
75,000 100,000 100,000 100,000 125,000 + bonus |
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
This policy can be paid in Monthly, Quarterly, Half-Yearly and Annual modes.
The following rider plans can be added on to your life plan as additional protection.
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.
