Life insurance is traditionally considered as a complex and sophisticated product which is hard to understand. It is also considered as a financial strain where the cost of protection is deemed too high.
We at Ceylinco Life always seek to provide the highest levels of protection, which is easy to comprehend and easier on your wallet as well.
Ceylinco Life Endowment Plan is an easy to understand product which focuses on one thing; protecting your loved ones in the instance of an unfortunate incident which harms your life. Furthermore it also acts as a prudent financial investment.
How it works
The beauty of the Endowment Plan is that it is simple to understand and focuses primarily on the component of protection.
By purchasing a policy and paying a periodic premium your life would be covered within the policy term of your choosing.
Benefits
In the event of an unfortunate demise of the policyholder, the life cover will be immediately paid to the beneficiary as well as any other additional benefits which they are applicable for.
If the policyholder survives up until maturity the assured sum of the policy will be paid back.
Example : If the Policyholder is 30 years old and obtains a Ceylinco Life Endowment plan for a period of 20 years,the benefits received will be as follows:
| Sum Assured | Sum received in the event of death before maturity | Maturity (at 50 years at the current bonus rate) |
|---|---|---|
| Rs. 100,000 | Rs. 100,000 + Bonus | Rs. 190,000 |
| Rs. 250,000 | Rs. 250,000 + Bonus | Rs. 475,000 |
| Rs. 500,000 | Rs. 500,000 + Bonus | Rs. 950,000 |
| Rs. 1,000,000 | Rs. 1,000,000 + Bonus | Rs. 1,900,000 |
(This is an illustration only)
If you are aged between 18-60 years you are eligible to purchase this policy for a period of 5-40 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 Endowment 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.
