Ceylinco Life goes online

R. Renganathan

An online life insurance plan, which can be applied for and purchased entirely via the internet, has been launched by Ceylinco Life. 'Protection at Your Fingertips,' Ceylife Online is a simple term insurance plan with optional accidental death cover, offered on www.ceylincolife.com to a new generation of IT-savvy Sri Lankans seeking convenience and cost effective life insurance," a spokesman for the compnay said.

"The product, which is now available for persons aged 18 to 60, carries a minimum Basic Sum Assured (BSA) of Rs 1 million and minimum accidental death cover of the same amount for terms of five to 30 years," he said.

A policyholder can complete an online application in less than 10 minutes, any time of the day, pay by credit card via a highly secure Internet Payment Gateway, and in cases where no medical reports are required, receive his or her policy via courier within four days.

"We are excited by the potential for this new distribution channel for life insurance," Ceylinco Life's Managing Director and CEO R. Renganathan said. "While insurance agents, our traditional distribution channel, will continue to be our mainstay for many years to come, the importance of the online customer segment is growing rapidly and will be addressed by Ceylife Online."