Bonuses for Ceylinco Life policyholders

Policyholders of Ceylinco Life will receive Rs. 2.9 billion as bonuses from the life insurance leader. Benefitting over 300,000 policyholders, the bonus pay-out comprises annual bonuses and Avurudu Cash bonuses, company sources said last week.

This year's annual bonus is the highest in Ceylinco Life's history and the surplus generated by the company's Life Fund in FY 2015. Even policyholders who purchased policies in December 2015 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. Annual bonus certificates totalling Rs 2.9 billion will reach these policyholders by post in April and May, and some of them will be accompanied by an invitation to increase his or her life cover, or obtain a retirement plan to be eligible to win a package tour to Singapore or a smartphone.

Around 16,000 Ceylinco Life policyholders will receive encashable cheques for Rs. 66.2 million in the post soon, the source said. These are the Avurudu Cash bonuses with which the company rewards policyholders for their loyalty.

The cash bonuses are presented to Life policyholders who had completed their 10th, 15th, 20th and 25th policy year as at December 31, 2015.

With this year's cash bonus payments, the cumulative value of cash bonuses paid by Ceylinco Life will exceed Rs. 410 million.