A new paradigm life insurance product that offers protection and wealth accumulation with an emphasis on the latter has been launched by Ceylinco Life, raising the bar for investment options in Sri Lanka’s financial services sector.
The ‘Ceylinco Life Future Saver’ is designed to enable policyholders to plan for long-term goals by passionately saving for a short period during which their financial stability is at its peak.
It offers protection for up to 25 years or more, for premium payments over five or 10 years, based on the policyholder’s capacity and wealth accumulation aspirations.
“Life insurance products must adapt in response to changing socio-economic dynamics,” Ceylinco Life General Manager Marketing, Samitha Hemachandra said. “Future Saver is an excellent example of a product that meets the aspirations of key demographics of the present, especially millennials, young adults aged 25–45 years, customers segmented as SEC A, executives and managers in the private and public sectors, professionals, businessmen and self-entrepreneurs. It also advances the Ceylinco Life credo of de-risking the ambitions of its customers with financial security that goes beyond life cover.”
Ceylinco Life Future Saver creates a Wealth Accumulation Fund built on monthly dividend rates declared by the Company for the Basic Premium paid by the policyholder, part of which funds a life insurance policy, while the balance accumulates in the Fund.