Ceylinco Life's retirement plan:
2nd retirement planning month launched
Ceylinco Life has announced plans to launch its second Retirement
Planning Month in a continuation of an effort begun last year to promote
retirement planning in Sri Lanka.
To be observed from May 1 to 31, the second Retirement Planning Month
will be preceded by a mass media campaign focusing on the need for
retirement planning, targeting existing policyholders and the working
community in general.
Explaining the reasons to launch a second Retirement Planning Month
Ceylinco Life's Deputy Chairman R. Renganathan said:
"The first ever retirement planning month in the country was
immensely helpful in educating the public on the importance of
retirement planning. This year's events will help maintain the momentum,
and build on the gains made last year."
A special feature of this year's Retirement Planning Month is that
anyone who buys a Ceylinco Retirement Account (CRA) during this period
or those who increase the value of their accounts during the month of
May will automatically qualify for a draw at which ten Singapore holiday
packages will be presented.
These packages will include air tickets and accommodation for three
days. During the Retirement Planning month, nearly 5000 Ceylinco Life
personnel will be deployed islandwide to discuss retirement planning
with potential customers.
The company will also distribute leaflets that will help people
understand retirement planning and the need for it and conduct street
promotions at branch level. The initiative will also be supported by
outdoor banners, pennants and other interactive events in many parts of
The first ever Retirement Planning Month conducted in May 2008
generated impressive results for Ceylinco Life. The company sold
approximately 7,000 new CRAs during the month and as a result, Ceylinco
Life achieved its entire year's target for CRAs by the end of the first
five months of 2008, Renganathan disclosed.
Ceylinco Life retained its position as the life insurance market
leader at the end of 2008 with premium income of Rs. 8.2 billion.
The company's life fund stood at Rs. 21 billion as at December 31,
2008, and its solvency margin was five times that requested by statute.