Allianz Insurance signs agreement for Suraksha Student Insurance project

The Education Ministry has signed a tender agreement with Allianz Insurance for the Suraksha Student's Health Insurance project today (Apr 04).

Accordingly, the Ministry will pay a premium of Rs 1.5 billion to the private insurance company which is much lesser when compared to Rs 2.7 billion which was paid to Sri Lanka Insurance for the first year of the project.

The Insurance Scheme was introduced in 2017, and was stalled since November last year due to a tender dispute which subsequently left thousands of students waiting for their payouts due to the delay in finalising the bidder.

However, with the signing of the agreement, students will be entitled to receive Rs 200,000 for their hospitalisation expenditure, Rs 3000 for daily treatment at hospitals along with insurance claims for dental clinics, purchasing eye glasses and hearing aids.

Further, a sum of Rs 200,000 will be provided to students whose parents have passed away.

(Reporting by Damith Wickramasekara)