Ceylinco Life unveils surgery policy to cover over 500 surgeries

An enhanced insurance plan covering 525 different surgical procedures have been introduced to the local life insurance market by Ceylinco Life.

‘Ceylinco Major Surgery,’ the only policy in Sri Lanka to cover more than 500 surgeries, is the successor to Ceylinco Life’s ground-breaking ‘Major Medical’ policy introduced to the market five years ago, the company said.

A feature of the new surgical plan is that a policyholder who is in need of undergoing a surgical procedure covered by the policy can claim up to three times the sum assured.

A mechanism to combat the impact of inflation has also been built into the plan, with Ceylinco Life undertaking to increase the value of the surgical benefit by 10 per cent annually, with no increase in the premium. The 525 types of surgery provided for, which literally cover a policyholder from head to toe, are classified into four groups for the purpose of claim settlement. Surgeries classified as Type A are entitled to 100 per cent of the sum assured, while Type B surgeries receive 40 per cent, Type C 15 per cent and Type D a fixed lump sum of Rs 15,000.

“This policy covers major surgical procedures like replacement of heart valves, transplantation of the kidney, liver or lung, or bypass of intracranial blood vessels to simple procedures like amputation of toes or surgery for carpal tunnel syndrome,” Ceylinco Life’s Chief Executive Director R. Renganathan said. “Not only is it the only policy of its kind in Sri Lanka, it is possibly unique in the South Asian region.”

No hospital bills are required for payment of claims, he said.