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09 April, 2015 07:51 AM Source: Financial Times - Sri Lanka
Ceylinco Life.jpg

Ceylinco Life has announced a pay-out of more than Rs. 2.4 billion in April 2015 in the form of annual bonuses and ‘Avurudu cash’ bonuses to over 300,000 policyholders.
Annual bonus certificates to the value of Rs. 2.4 billion will reach entitled policyholders in the post during the month, with an invitation to a selected number to enhance their cover and become eligible to win five package tours to Bangkok or 20 smartphones, the company said.
This year’s annual bonus pay-out is the highest in Ceylinco Life history, and surpasses last year’s by Rs.500 million. The annual bonuses are in respect of the surplus generated by the company’s Life Fund in FY 2014.
The company disclosed it has increased its annual bonus rates in respect of 10 life insurance plans this year, on the recommendation of its consultant actuaries.
April will also see 14,200 Ceylinco Life policyholders receive Rs.57.2 million in immediately encashable cheques as ‘Avurudu Cash’ bonuses, which are paid as a reward for their loyalty. These bonus cheques are to be home delivered by Ceylinco Lifeduring the month of April.
“Our bonus payments provide policyholders with an additional reason to celebrate every April, but it is also a good time to remind them about the importance of reviewing their policies to ascertain whether their cover is adequate to protect their loved ones,” said R. Renganathan, Ceylinco Life’s Managing Director/CEO.
He said selected customers whose existing life cover is below Rs 1 million will be offered a chance to enhance the value of their policies this year through a direct mailer that will accompany their bonus certificates.
As in previous years, even policyholders who purchased their policies in December 2014 will be eligible to receive a bonus, in line with the company’s policy of declaring bonuses from the very first year of issue of a policy.

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