Bancassurance is a strategic alliance with an insurance partner to distribute insurance products to the bank’s customer base through the branch network of the bank.
Bancassurance is a strategic alliance with an insurance partner to distribute insurance products to the bank’s customer base through the branch network of the bank.
Bancassurance offers bank account holders a convenient option to have their policy premiums deducted automatically throughout the term of the policy whilst offering specialized products tailored to suit their financial needs.
The policy offers life & Permanent Total disability cover whilst addressing the your financial requirement such as the need for a retirement fund, lump sum requirement for an educational, marriage requirement of a child, lump sum for medical expenses etc. Also, the policy can be assigned to the bank as security/ collateral for facilities obtained
Completed proposal form, National Identity Card (NIC) or other valid proof of identity (Valid Driving License/ Passport, etc…) Medical documents will depend on the discretion of the Insurer. However, cost of medical examinations will be borne by the Insurer and will not be burdened on the customer.
From the date of the first premium payment subsequent to the submission of the documents required to issue the policy discussed under question 04 above.
Within two weeks of submission of documents required to issue policy & settlement of premium. The Insurer will usually dispatch the policy by registered post/courier or send to the branch upon your request.
Yes. There is a cooling off period of 21 days within which you may submit the policy document together with an official request to cancel the policy and request for a refund of premium.
Submit an official request to re-issue policy together with an affidavit. Insurer will then re-issue the policy at an additional cost.
The Insurance Representative deployed in the branch will personally follow up when the policy is falling due for renewal. Additionally a renewal reminder SMS will be sent by the insurer.
The Insurer provides a 30 day grace period from the due date of premium payment. The customer may settle the premium within the grace period to avoid discontinuation of the policy / lapsation.
Yes. 30 days from the premium due date.
Insurer will allow a grace period of 30 days from the date of the renewal premium due date. The customer has to make the payment within this period to avoid lapsation of his/her policy.
Yes. An official receipt will be issued upon payment of premium at any Seylan Branch.
Yes.
It pays off the mortgage if policyholder dies/permanently disabled during the term of the mortgage
Comprehensive/ 3rd Party
Loss or damage to the vehicle by accidents, loss or damages to the vehicle by fire and loss or damage to the vehicle by theft or burglary.
Market Value
Due to the law of the country - Motor Traffic act No 14 of 1951 and subsequent amendments
Re-instatement Insurance value