IASL Launches National Life Insurance Month: Here’s what you need to know

1.In a nutshell…

The Insurance Board of Sri Lanka (IBSL) & Insurance Association of Sri Lanka (IASL) have teamed up together with all the life insurance partners in Sri Lanka to launch the national life insurance month from September 1st-September 30th. This initiative has brought all the life insurance firms as we all strive for one goal- to ensure that all Sri Lankan’s are insured.

2.What’s the main focus of Life Insurance Month in Sri Lanka?

At HNB Assurance, we are well known for our famous ‘spirit of caring’, and have joined forces to help safeguard the future for you and your loved ones, hence the reasoning behind our campaign which urges you, the uninsured to get life and live life. The players in the insurance industry are striving to meet 1,000,000 individuals and spread the message about the importance of insurance for all Sri Lankans.

3. The Logo

This is the official ‘Flame of Protection’ which is intended to extend the protection of life insurance to Sri Lankans and will be the prominent logo used during the month of September. The initiative looks to tackle a glaring issue; According to Daily ft less than 13% of Sri Lankan’s are covered by life insurance, so this combined effort will be used by the 15 life insurance companies to bring life insurance into 15 new regions around Sri Lanka.

4. What Should I expect during National Life Insurance Month in September?

• If you don’t have insurance already, expect our friendly insurance advisors to speak to you. We will be issuing leaflets spreading the ‘Get Life, Live Life’ message.
• We have also planned a bunch of regional street promotions all around Sri Lanka, so do let us know if you come across any!
• The team has invested significant amounts for TV, Radio and Print advertisements so be on the lookout for those.
• Visit the official website to catch the latest news and find out when insurance agents will be coming to your town.
• LIKE their Facebook page for exciting competitions and be aware of the latest information!

5. The launch

Image Credit: Lanka Business News

The National Life Insurance month was officially kicked off at the Arcade Independence Square on  Tuesday, September 1st by senior individuals of the Insurance Board of Sri Lanka (IBSL) and Insurance Association of Sri Lanka (IASL) with the lighting of the official torch.

We hope that the coming month inspires YOU to look into secure your future with life insurance!

Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.

HNB Assurance Takaful: In a Nutshell

 1. About Us

Here at HNB Assurance, we pride ourselves on providing innovative solutions to satisfy the various needs of our customers. With that in mind, we decided to promote HNB Assurance Takaful. This is the first company in Sri Lanka to get clearance from the Insurance Board of Sri Lanka (IBSL) to operate as an ‘Islamic window’ model insurance operation.

2. What is Takaful?

Takaful is an alternative to conventional insurance. This is based on the principles of Sharia, where a group of people pool their financial resources to guarantee each other against  loss/damage which they may encounter.

Takaful Is about believing in togetherness and being there for one another during times of need

3. Products Offered

Broadly speaking, HNB Assurance Takaful focuses heavily on Mortgage Reducing Takaful, which is aimed at homeowners or those who are looking to buy land/renovate a house. On the other hand, HNB General Takaful offers both motor and non motor Takaful solutions. The non-motor Takaful solutions cover Fire, Construction, Medical and Marine Takaful.

4. Benefits Offered

• Surplus: is paid at the end of the financial year on the surplus left in the risk fund, it shall be distributed to Participants on agreed ratio based on the type of Takaful plan, provided that the Participant has not incurred any claim and/or the Certificate Holder has not received any benefits payable under each type of cover under this certificate whilst it is in force.

• Protection/Coverage (guarantee and agreement to look after each other in the event of loss or damage that may be inflicted upon them)

• Investment Profit (any profits from investment is shared by participant and the operator)

Our Official Logo: HNB Assurance Takaful

5. How does Takaful work in practice?

Its as easy as 1-2-3.

1. Takaful works on the basis of an agreement made by the parties involved in the Takaful insurance scheme.
2. Each party agrees that he/she is both a participant and an operator.
3. Each party pays a premium to the scheme which is then invested in an Islamically acceptable way.

Do you have more queries about Takaful? Tell us in the comments, in the meantime, check out the Mortage Reducing Takaful Brochure or give our dedicated Takaful line a call on 0114-677-000.

Disclaimer: The views shared in this blog are based on the macro economic conditions & industry status quo as per the time of publishing.