Ceylinco Life policyholders celebrate ‘Avurudu’ with cash bonuses

Thursday, 4 April 2013 00:57 - - {{hitsCtrl.values.hits}}

Nearly 10,000 policyholders are expected to receive extra cash this time around, with which to celebrate the national New Year courtesy of Ceylinco Life.

Continuing a unique tradition that dates back to 2004, the life insurance leader has announced that it will home-deliver Rs.31.7 million in cash bonuses to these policyholders between 6 and 10 April.

The bonuses, in the form of immediately encashable cheques are to be rewards for customer loyalty and are will be in addition to the annual bonuses that Ceylinco Life policyholders receive.

Policyholders who have completed 20 years will be eligible to receive a cash bonus computed at Rs.75 per Rs.1000 sum assured. Cash bonuses for those who have completed 15 years are to be computed at Rs.50 per Rs.1000 sum assured while those who have completed 10 years will receive Rs.25 per Rs.1000 sum assured.

On this basis, a participating policy with a sum assured of Rs.1 million will be entitled to a cash bonus of Rs.25000 on completion of 10 years, Rs.50000 on completion of 15 years and Rs.75000 on completion of 20 years.

“Our policyholders are our biggest asset, and we see no reason not to be generous in rewarding them for their loyalty,” said Ceylinco Life’s Managing Director and CEO R. Renganathan. “This is the 10th consecutive year that Ceylinco Life is paying cash bonuses and our policyholders are most appreciative of this voluntary gesture by the company,” he added.

Renganathan stated that the cumulative value of cash bonuses paid by Ceylinco Life every April over the past 10 years has exceeded Rs.256.6 million.

Independently rated one of Sri Lanka’s most valuable brands, Ceylinco Life has maintained its leadership of the country’s long-term insurance sector from 2004 onwards. The company operates the largest branch network among local life insurance companies, and has won multiple international and local awards for its commitment to the community and success in brand equity building.