Ceylinco Life announced yesterday 310,000 of its policyholders will receive a record Rs. 1.59 billion in annual bonuses this year, from the surplus generated by the Company’s Life Fund in 2010.
The bonus payments to policyholders whose policies were active as at December 31st 2010, exceeds that of the previous year by Rs. 200 million and reflects a 14.4%increase. The value of the Life Fund of Ceylinco Life stood at Rs. 31.868 billion as at December 31st 2010.
The bonus certificates will be posted to policyholders commencing 20th March 2011, the company said. Policyholders can also enter a draw at which 500 winners will receive a range of valuable Ceylinco Life branded gift items, by sending their details to the company using pre-paid envelopes enclosed with the bonus certificates. “Year after year, Ceylinco Life has consistently delivered more than its promise to hundreds of thousands of policyholders,” the company’s Director/Deputy Chief Executive Officer Thushara Ranasinghe said. “This year’s annual bonus payout is evidence of our continued commitment to this important aspect.”
“Apart from the increase in the total value of bonuses, the number of recipients has increased significantly,” he said. “This is a reflection of our success in another aspect -- taking life insurance to a wider segment of the population.” Ceylinco Life also rewards longstanding policyholders through its ‘Avurudu Bonus’ scheme during the festive season every year. This year too, such cash bonuses are to be home delivered to longstanding life policy holders in April.
Ceylinco Life’s policy of declaring bonuses from the very first year of issue of a policy, enables even a policyholder who obtained a policy in December 2010 to receive a bonus allotment as at 31st December of the same year.
Sri Lanka’s most successful life insurer, Ceylinco Life has now retained market leadership in the industry for the seventh consecutive year. The company also offers its policyholders multiple benefits such as ‘Pranama’ scholarships for policyholders’ children, ’65-plus’ free medical cover, ‘Aloka’ educational grants for children of deceased policyholders in the low income segment and free medical check-ups.