Sipsetha
Your child’s education is the most important foundation for their future goals. You play a crucial role in being their support while they begin their tertiary education.
Consistent financial support will allow your child to achieve their academic ambitions with peace of mind, which is where Ceylinco Life Sipsetha comes in.
How it works
Ceylinco Life Sipsetha includes an easy to understand life insurance cover while providing you educational annuities during the last 8 years of the policy term.
Benefits
In the event of the demise of the policyholder:-
- Premium payment will be ceased
- Full amount of the assured sum will be paid to your child
- If the annuity payments have started;
- Balance annuity payment will be tripled and paid to your child
- If the annuity payments have not started
- Annuity payment will be tripled and paid to your child
- In the event of demise of the policyholder due to an accident:-
- Assured sum will be doubled and paid
- Annuity will be tripled and paid
If the policyholder survives the educational annuities will be paid in proportions in the last 8 years of the policy term.
Example:
If you have a Ceylinco Life Sipsetha Plan with a sum assured of Rs.200,000/- for a period of 20 years and assume that your child is 3 years old, the benefits he / she receives during the last 8 years are illustrated bellow
Who can apply
Anyone aged between 18-54 years is eligible to purchase this policy for a period of 11 – 23 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 Sipsetha 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.
