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| Sunday, 5 May 2002 |
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Business |  |
| News Business Features Editorial
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SLICL pays Rs. 7.4 mln life claim The Sri Lanka Insurance Corporation Ltd. (SLICL) recently paid the family of a businessman in Chilaw, Rs. 7,415,947.21 in a speedy settlement of Life Insurance claims. The 45-year-old proprietor of Farmine Agencies (Pvt) Limited, Mr. Padmasuriya, has been a loyal customer of the corporation, having field a total of nine policies to obtain maximum cover for business and personal eventualities. The initial policy held by him, a Triple Benefit Policy doubled the basic sum assured and ensured that the beneficiaries were able to immediately utilise the benefits of the policy, on the demise of the policy holder. He had also obtained four mortgage protection policies, in addition to the personal Life Insurance policy to cover personal loans and business contingencies. As a caring parent, Mr. Padmasuriya had opted for three Mini Muthu policies for his children. On the demise of the parent, the children became entitled to an immediate benefit of Rs. 500,000 each and would also be entitled to an additional Rs. 500,000 plus accrued bonuses, one each child reaching 18 years of age, even though premium payments for these policies were waived on the death of the policy holder. On accepting the cheque from the Sri Lanka Insurance Corporation, Ms. Padmasuriya said that she will continue insuring with the corporation due to the professional manner in which the business was implemented and assured that she and her children will be loyal customers of the corporation. Ananda Adihetty, organiser, Chilaw Branch was responsible for the introduction and client servicing of the policies held by Mr. Padmasuriya. |
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| Editorial | Security Produced by Lake House |
