SLIC Life partners BASL to offer exclusive retirement plans for legal fraternity

Sri Lanka Insurance Life partners with Bar Association of Sri Lanka to introduce “Sri Lanka Insurance Life Rakawarana” Retirement Plan, exclusively for members of Bar Association From left: BASL Manager – Program Office Prakalathan Thuraisingam, Administrative Secretary/CEO Suranee M. Samarasekara, BASL Chairman Rajeev Amarasuriya, SLIC Life CEO Nalin Subasinghe, SLIC Life CO – Life Dayaratne Perera, SLIC Life DGM National Sales Jagath Welgama and SLIC Life Key Accounts Manager – Broker Servicing Saman Amarasinghe   

Sri Lanka Insurance Life, has partnered with the Bar Association of Sri Lanka (BASL) to introduce the Sri Lanka Insurance Life Rakawarana Retirement Plan, an exclusive retirement plan designed for the legal community. 

This special collaboration brings together two prestigious national institutions in a partnership aimed at strengthening the financial security of the legal professionals. The Sri Lanka Insurance Life Rakawarana Retirement Plan is crafted exclusively for members of the BASL, offering a guaranteed income after retirement and enhanced protection with an Accidental Death Cover. It enables members to enjoy a financially independent and peaceful retirement, ensuring that they and their loved ones remain protected at all times. 

The plan provides members the flexibility to choose their preferred retirement age between 45 and 70 years, offering a guaranteed monthly income that increases by 5% annually on a compounding interest basis. It also allows members to enhance their retirement fund according to their future needs and to receive up to five times their monthly pension as a health benefit each year, without the need for hospital or medical bills. In the event of an unfortunate demise of the policyholder during the benefit receiving period, the beneficiary will continue to receive the remaining annuity and bonuses. 

Adding further protection, the plan offers Accidental Death Coverage to ensure financial support against unforeseen incidents, along with flexible payment options, monthly, quarterly, half-yearly, or annually. The plan is open to individuals between 18 to 60 years of age, with policy terms ranging from 5 to 40 years. Members may also enhance their cover with additional benefits such as family protection covers, permanent disability covers, critical illness covers, and hospitalisation cash benefits. 

Bar Association of Sri Lanka President Rajeev Amarasuriya said, “The BASL is committed to enhancing the welfare and wellbeing of its members, and this collaboration with Sri Lanka Insurance Life is an important initiative that ensures our members have access to a secure and dependable retirement plan. It is an important step in strengthening the long-term financial independence of the members of the legal fraternity.”

BASL Secretary Chathura Galhena added, “This was a longstanding need for the members of the Bar and Sri Lanka Insurance Life being a well-established state entity has come forward to partner with the BASL to bring a long-lasting benefit scheme for the membership.”

Sri Lanka Insurance Life Chairman Nusith Kumaratunga said, “As the strongest and most stable life insurer in the country, we are honoured to extend our protection to the legal fraternity through this exclusive partnership. The Sri Lanka Insurance Life Rakawarana Retirement Plan reflects our strength, stability, and commitment to safeguarding professionals who play a vital role in upholding justice and the rule of law.” 

Sri Lanka Insurance Life Chief Executive Officer Nalin Subasinghe added, “This partnership is a meaningful step in our journey to create tailored insurance solutions that meet the evolving needs of diverse professional communities. The Sri Lanka Insurance Life Rakawarana Retirement Plan combines long term financial security with enhanced protection, empowering members of the Bar Association to plan their retirement with confidence and peace of mind. 

The Bar Association of Sri Lanka, as the voice of the legal profession, continues to play a pivotal role in upholding the administration of justice and the rule of law while safeguarding the interests and welfare of its members. Through this partnership, Sri Lanka Insurance Life reaffirms its commitment to supporting professionals who contribute to the nation’s progress by offering tailored financial protection and retirement solutions built on over six decades of trust and stability.