LOLC Insurance unveils unique insurance products
View(s):LOLC Insurance, the insurance arm of the LOLC Group, recently launched two new products under its two entities, LOLC General Insurance Ltd and LOLC Life Assurance Ltd.
The two new products namely, LOLC Suraki Piyasa, unveiled under LOLC General Insurance and LOLC Reality launched under the LOLC Life Assurance banner are simple and affordable insurance policies, designed to cater to the needs of a diverse customer base, according to a company media release.
LOLC General Insurance has designed a special home insurance policy named LOLC Suraki Piyasa providing customers the chance to obtain a policy for a selected value instead of insuring for the full value of the property. As a result, customers need not pay the premium based on the total value of the asset. Instead, they could select the insurance cover they need based on values ranging from Rs. 1,000,000 to Rs. 3,000,000 and pay their premiums accordingly. Though the insured value selected by the customer does not represent the actual value of the property, no deductions will be made at the time of claim. Through LOLC Suraki Piyasa, LOLC General Insurance hopes to encourage customers to insure their homes at affordable premium rates.
“LOLC Reality is a distinctive insurance solution launched by LOLC Life Assurance. Through this policy, customers can obtain the highest cover for a minimum premium with flexible term options between 5 and 30 years. With convenient premium payment options, ranging from monthly, quarterly, half-yearly, annually to single premium, the LOLC Reality policy allows the customer to enjoy a range of additional covers,” the release said.