Pension Saver
Pension Saver is the premier retirement plan in the Sri Lankan life insurance market. It is an exclusive retirement plus life protection plan that supports you in building the retirement life of your dreams, while also keeping you secure against uncertainties that may await. Ceylinco Life Pension Saver helps you enjoy a worry-free retirement where you can freely pursue your goals for your golden years.
What We Offer
A Growing Retirement Fund
Pension Saver ensures a growing Retirement Fund, which is built on monthly dividend rates declared by the company for the Basic Premium paid by you. You can decide your own contribution to the retirement fund and start developing the fund monthly, quarterly, bi-annually or annually.
Life Protection Benefit
You will receive a life insurance cover with an affordable premium that ensures a promising tomorrow for your loved ones in the case of your unfortunate demise. In the event of your death during the term of the Policy, your beneficiaries will receive:
- Basic Sum Assured
- Family Protection Benefit
- Premium Assurance Benefit
- Other Supplementary Benefits, if entitled any
- Monthly Pension or Lump Sum Payment at the Retirement Date
Health / Supplementary Benefits
The plan allows the addition of a wide range of health benefit riders available at Ceylinco Life, to offer you the best health support for the life.
- Accidental Death Benefit
- Total / Partial and Permanent Disability Benefit
- Critical Illness Benefit
- Hospital Cash Benefit
- Major Surgery Benefit
- Medical Reimbursement Benefit
Premium Assurance Benefit
In the unfortunate event of death, Ceylinco Life will continue the payment of Basic Premium for your Retirement Fund until the Date of Retirement and will build the fund during your absence for your loved ones. In the event of total and permanent disability, the Company will continue the payment of Basic Premium as well as the premium for the Life cover until the Date of your Retirement.
Loyalty Reward
If you have paid all due premiums within 180 days of its due date, Ceylinco Life will credit Loyalty Rewards to your Retirement Fund at specified intervals during the policy term to appreciate your commitment to the Fund. This will increase the Retirement Fund further and all you need to do is to pay your all premiums on time. Total Loyalty Rewards will depend on the policy term and the premium paying mode.
Retirement Fund Grow
Your Retirement Fund is carefully managed by professional investment managers who will ensure that your Retirement fund grows each month, while ensuring an attractive maturity at the end. Example for the Retirement Benefit:
Policyholder’s Current Age: 35 years
| Annual Basic Premium for Retirement Fund and Basic Sum Assured | Total Loyalty Rewards (Rs.) | Return at the end of 20 years after paying all due premiums (Rs.) (Maturity Value + Loyalty Rewards) | ||
| 4% | 8% | 12% | ||
| 100,000 | 1,150,000 | 3,754,773 | 5,301,326 | 7,801,698 |
| 250,000 | 2,875,000 | 9,419,707 | 13,298,754 | 19,569,336 |
| 500,000 | 5,750,000 | 18,861,265 | 26,627,799 | 39,182,067 |
Above is only an example based on assumed dividend rates of 4% p.a, 8% p.a. and 12% p.a., after all management charges and assuming all premiums are paid on the respective due dates. Further, above assumed Dividend Rates are not guaranteed and subject to fluctuations of the prevailing market conditions,
and the actual maturity benefit paid by the Company will depend on the actual Dividend Rates declared. The illustrated values above will change based on the premium payment mode selected. (i.e. half yearly, quarterly or monthly)
Example of Protection Benefits:
In-Built Protection Benefits |
Benefits Description |
|---|---|
|
Death Cover (Basic Sum Assured + Additional Life Cover) |
Rs. 1,000,000* |
|
Premium Assurance Benefit (PAB) |
The payment of premiums will be waived off in the event of Death or Total Permanent Disability of the main Life Assured, and the building of the Retirement Fund will be continued. |
*The amount of death cover can be decided by the Life Assured.
The Annual Basic Premium of Rs. 100,000 will be utilized to provide cover for the Basic Sum Assured and to build your Retirement Fund. The Annual Total Premium including premiums for ‘Additional Life Cover’ and ‘Premium Assurance Benefit’ will be Rs. 113,352.
