Ceylinco Life ties up with NSB for premium payments

Ceylinco Life has added the extensive branch network of the National Savings Bank to the company's premium payment network, expanding it by 126 outlets.

The company's policyholders can now make their premium payments monthly or quarterly at any NSB branch islandwide, in addition to the company's own network of 180 branches.

Payments can be made by cash, the company said.

This new agreement with NSB will bring greater convenience to policyholders by offering them outlets to pay premiums at locations closer to their homes or offices, Ceylinco Life's Deputy Chairman R. Renganathan said.

Ceylinco Life policyholders also have the option of paying their premium via the user-friendly, secure on-line facility offered by the company's website, and by standing orders on credit cards or bank accounts.

Ceylinco Life owns the largest branch network in the country's life insurance sector and currently employees a sales force of more than 5,000.

The company has more than 750,000 lives covered by active policies and ended 2008 with premium income of Rs. 8.2 billion.

According to the latest annual report of the Insurance Board of Sri Lanka, Ceylinco Life's share of the local life insurance market is nearly 35 per cent.