HNB Assurance unveils Araksha as pure protection proposition

HNB Assurance PLC (HNBA) has announced the launch of another revolutionary product to its product portfolio recently. HNBA Araksha, a Life Insurance product which focuses purely on the protection element, providing a range of benefits to safeguard the family of the Life Assured when uncertainty strikes.

Sharing his views on the importance of protection based products in our market, HNBA and HNB General Insurance Managing Director/CEO Deepthi Lokuarachchi stated: “In today’s fast-paced world individuals face unforeseen tragedies that leave their families and loved ones exposed to tremendous emotional stress coupled with financial burden. It is in their best interest to take sufficient measures to face such uncertainties associated with life. We often cannot do this ourselves and that’s where Life Insurance comes into play to ease our loved ones of the burden of financial stress. HNBA Araksha is our way of helping individuals in the very act of protecting themselves as well as their loved ones.”

“The Management of HNBA has put in great efforts to develop a product which purely focuses on the protection aspect of the policyholder, and HNBA Araksha is a product developed with the expertise of a team of professionals with a thorough understanding of the behavioural and psychological aspects of our community. The product has been developed upon the analysis of current market trends, the real need of our community and the existing gaps in fulfilling the insurance needs of the community. And we strongly believe that a product of this nature would empower families to strike through, even during times of uncertainty,” he added.

Sharing views on the product attributes, HNBA Chief Operating Officer Prasantha Fernando stated: “HNBA Araksha offers a range of special benefits. The product offers a minimum lump-sum of Rs. 5 million and a monthly income between Rs. 25,000.00 - 200,000.00 for a maximum period of 10 years to the family upon the demise of the life assured. In addition to these main features, customers could opt for a number of additional covers such as critical illness, medical reimbursement and total permanent disability covers. Furthermore, an extension of critical illness and medical reimbursement covers could also be obtained for spouse and children, subject to conditions. This product could be obtained through our advisors and Bancassurance officers who are well-versed in assessing and providing the best Life Insurance solutions to fulfil one’s protection needs.”

HNB Assurance is one of the fastest growing insurance companies in Sri Lanka with a network of 56 branches.  HNBA is a Life Insurance company with a rating of A (lka) by Fitch Ratings Lanka for “National Insurer Financial Strength Rating” and “National Long- term Rating”.