Business

Softlogic Life introduces Sri Lanka’s largest life insurance rider with a Rs 50m cover

By Heshan Shanilka

Softlogic Life Insurance PLC recently launched ‘Premier Health Benefit’, Sri Lanka’s largest health insurance rider, offering up to Rs. 50 million in annual life insurance coverage.

Announcing the package, Softlogic Life Insurance PLC Managing Director Iftikar Ahmad said Softlogic Life is passionate about life insurance in Sri Lanka and wants to help Sri Lankans to lead healthy lives.

“When it comes to insurance, claims are very important. In business there’s always an ‘eighty percent-twenty percent’ rule.  80% of the time we can do 20% or 20% of the time we can do 80%. Same applies to insurance claims because 80% of the claims require a decision making process, which takes a long period of time. In our company we settle it in a day. In terms of servicing our customers that is something we hold very close to our hearts.”

Softlogic life insurance PLC, General Manager Lasitha Wimalarathna said that the life insurance product comprises of multi-coverage benefits and the coverage goes up to Rs. 50 million per year, making it the best health rider in the market. The insurance policy starts from Rs. 500,000 and customers can select whatever they are comfortable with depending on their affordability.

“Rs. 50 million is the highest in the industry, more than double what is currently available in the industry,” he said.

There are coverages for individuals as well as families. Especially when it comes to families each family member can take separate coverage or the family can share a common package that is limited to a single cover and as a return the customer receives a premium reduction.

This entire package has a global cover except US and Canada that entitle the holder to worldwide cashless claim settlement benefits, where Softlogic pays direct cash on behalf of the policy owner. Additionally, customers can plan their treatment, surgery or consultation even in another country.

The product comes with main benefit figures. The first one is the in-patient cover that settles room charges including ICU charges. Second is the surgical cover that settles surgeons’ fees, anesthesia fee, operating theatre charges etc. The third is a miscellaneous cover that settles the cost of doctors, consultant fees, tests and equipment.

Significant of this premium health package is that it covers optical care (eye examination, spectacle frames, corrective lenses), dental care, wellbeing benefits (health checks, medical examinations), Pharmacy benefits and maternity expenses that are essential for wellbeing.

Softlogic Life Insurance PLC, Brand ambassador Kumar Sangakkara was at the event and said he’s proud to be representing Softlogic Life that made it their mission to enhance the quality of lives of Sri Lankans.

Softlogic Life Insurance PLC is a subsidiary of Softlogic Holdings. Softlogic Life is a listed company in Colombo Stock Exchange and recognized as one of the 25 best places to work in Sri Lanka.