Financial Times

Ceylinco Life launches 'Aloka' fund for education

Ceylinco Life has created another first in the insurance industry, with the establishment of an educational fund that will support the children of deceased policyholders in their education for three years after the policyholder's death.

All active policyholders are entitled to this new educational benefit scheme "Ceylinco Aloka" which comes at no extra cost to them.

In the event of the demise of the policyholder, the guardian or the spouse could apply for this benefit scheme on behalf of the child.

This is the latest benefit added to Ceylinco Insurance's "Life Rewards" portfolio, the company said.

The Ceylinco Aloka Fund will pay Rs. 54,000 in 36 equal monthly instalments on the death of any active policyholder whose children are undergoing primary, secondary or tertiary education.

These funds are meant to be used toward the continued education of the child or children, Ceylinco Life's Director/General Manager, Mr. R Renganathan said.