SMLL and Ceylinco Insurance team up to insure leases

A unique insurance policy that covers leases has been launched for the first time in Sri Lanka under an agreement between Seylan Merchant Leasing Limited (SMLL) and Ceylinco Insurance Company Ltd.

Here Director/General Manager of SMLL Surath Peiris (second from left) exchanges the MoU with H. M. Guneratne Banda, Director - Operations of Ceylinco Insurance. Also in the picture are (from left) Sheanath De Soysa, Director SMLL, Rohan Senanayake, Deputy Chairman SMLL and Ranjith Samarakoon, Senior Sales Manager Ceylinco Insurance.

Intended to provide greater security for lessees, this policy will cover the lease in the event a lessee should suffer accidental death, or partial or permanent disability during the lease payment period. In such an event the sum insured will be settled by Ceylinco Insurance, SMLL said in a statement.

Director/General Manager of SMLL Surath Peiris said: "This new scheme was introduced to reduce the burden on our customers and their families, who no longer have to worry about settling leases in the event the breadwinner of the family expires or is disabled. This reduces the risk factor for the lessee as well as for SMLL."