Sri Lanka’s first online life insurance plan from Ceylinco
View(s):Sri Lanka’s first online life insurance plan, which can be applied for and purchased entirely via the Internet, has been launched by Ceylinco Life, the company said.
‘Ceylife Online is a simple Term Insurance Plan with optional Accidental Death Cover, offered on www.ceylincolife.com to a new generation of IT-savvy Sri Lankans seeking convenience and cost effective life insurance.
The product, which becomes available from 22nd November is for persons aged 18 to 60, and carries a minimum Basic Sum Assured (BSA) of Rs 1 million and minimum accidental death cover of the same amount for terms of 5 to 30 years, the company media statement added.
Under the web-based plan, a prospective policyholder can navigate and complete an online application in less than 10 minutes, any time of the day or night, seven days a week, pay by credit card via a highly secure Internet Payment Gateway, and, in cases where no medical reports are required, receive his or her policy via courier within four days.
Since it is offered online, policyholders benefit from significantly lower premiums, and receive instant printable receipts and automatic confirmation of transactions via email and SMS.
“We are excited by the potential for this new distribution channel for life insurance,” Ceylinco Life’s Managing Director and CEO R. Renganathan said.
“While insurance agents, our traditional distribution channel, will continue to be our mainstay for many years to come, the importance of the online customer segment is growing rapidly, and will be addressed by Ceylife Online.”
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