Lost Your Important Documents During the Flood/Landslide Season? Here’s What You Should Do!

The Disaster Management Center has reportedly estimated that around 250 individuals are still living in temporary camps and a reported 61,859 individuals have been displaced as a result of the recent season of landslide and flood.

Following these two major natural disasters, many individuals have lost their valuable belongings including valuable identification documents. In case you’re a victim and you’ve lost such valuable documents here’s what you can do:

• National Identity Card:

In case you’ve lost or misplaced you NIC during the flood and landslide season, immediately obtain an application form from the ID office or Divisional Secretariat. The completed form should be certified by the Divisional Secretariat. Make sure to lodge a police complaint stating details of the lost NIC. A letter should be obtained from the Grama Sevaka confirming your address and other relevant information.

The Department has stated that NIC’s obtained prior to 1^st of September 2014, is unlike to contain information on the database and citizens are required to hand over the completed form and the other two documents in order to avoid any delays. If you’ve obtained your NIC after the above mentioned date and have lost or misplaced it during the recent landslide or flood season, you’re requested to produce a document confirming your personal details. This could be your passport, birth certificate or even your marriage certificate.

• Passport:

In case you’ve lost your passport, immediately lodge an entry with the nearest police station, soon as possible.  Make sure you clearly state every important detail regarding this and try to recall as much as information which was included in your lost passport.

Once you lodge the complaint, provide a copy of this to the Department of Immigration and Emigration and officials will guide you with the process further. In case, your passport was drenched, make sure you produce it to the Department in order to obtain a new one. There will be no penalty charged if the  drenched passport is produced to obtain a new one.

• Certificates – Birth/Death/Marriage:

In case you’ve lost a birth certificate or a death certificate during the recent flood/landslide season, make sure you provide details as much as possible, as most of the details related to these are stored in a database and could be recovered in a shorter time. The fee to obtain this would be Rs. 100.

In case you’ve lost your marriage certificate, you’ll be able to obtain it from the place which you initially obtained it from, as an example; if you initially obtained it from Colombo or Galle, you’ll be able to recover this document from the Colombo DS or the Galle DS.

• Deeds:

In case you’ve lost your title deeds or other property related documents, you’ll be able to recover them from the Land Registrar. There are 45 Land Registries for this specific purpose.

The HNB Assurance Blog Celebrates its 1st year, Happy Blogging Anniversary!

1 year ago

We began this particular blog without too much fuss. It was all a bit new, writing about Insurance. We didn’t know it at the time, but we made history; we became the first ever life insurance blog in Sri Lanka. That being said, it was a very simple template which we had, as reflected in the screenshot below.

 

Yes, the layout was very simple and getting traffic to the blog was certainly a challenge. However, with a fair deal of experimentation the site grew its reach to over 50 countries and now looks like this;

Check out our new look!

Viola, a much more engaging theme which aligns with the corporate colours of HNB Assurance. We have spent a significant focus on writing about how you can improve your health, informed our customers about the basics of insurance and kept you abreast of our companies activities such as winning awards at NASCO, new products launches. The fact that the blog has gained a cult following has ensured that they’ve flooded us with questions, and in turn we have made it a point to answer them.

Many more years to come

We’ve been delighted with the level of success the blogs have achieved-yes, blogs! We launched a second blog, http://www.hnbgeneralblog.com which places emphasis on transportation, drunk driving and motor insurance. We’ve been well received on both platforms are pleased with the overall result. However, we feel that there is much left for us to contribute. So thank you, to all our well wishers and to all those who have subscribed all around the world and keep coming back to read our posts. Until next time!

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

What Paul Walker’s Death in ‘Fast & the Furious 7’ teaches you about Insurance

The Fast and the Furious 7 has come to cinemas in Sri Lanka. Although the trailer focused on its usual buildup, nearly all of the attention is focused around the demise of Paul Walker, one of the lead actors of the Fast and the Furious franchise.

Paul Walker, who played Brian O’Connor in the movie franchise

It was a tragedy when Paul Walker and Roger Rodas were involved in a car crash. It’s a harsh lesson about the importance of having insurance. Universal pictures claimed for a $50million Key Person Insurance payout. This is to cover various elements such as the loss of a high profile star, cost for getting replacements, production delays, time off taken for cast and crew to recover from the tragic incident etc.

Even in Sri Lanka, there are individuals who work in large companies who apply for key person insurance or life insurance in order to protect those who are most important to them.

At this point, we just want to say thank you: Thank you to Paul Walker for his amazing work in the Fast & the Furious franchise, for he has inspired millions around the world to take a look at the glitz & glamour of cars. In a cruel twist of fate, his life was tragically cut short. However, he has lived a life worth living.

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

HOW TO Get Rich: A Young Person’s Guide

In this week’s Youth themed topic, we take you on a beginners guide towards on building your wealth.

1. Make a plan: For some people, it’s an early retirement, for others it’s building an emergency fund. Take small steps & achieve it. For example, put at least 10% of your monthly income into a savings account if you want to create an emergency fund, just in case something comes up.

2. Self-control: Use a balance sheet. It’s quite simple: you balance the money which goes into your bank account vs your monthly expenses. Make a budget for transport, food and drink, rent & utilities, mobiles & internet. If you have extra funds, allocate a small portion of your earnings to a ‘spending fund’ which lets you go out and enjoy life… in moderation.

Start saving as soon as possible

3. Invest wisely: Overall, the country is doing well. The Colombo Stock Exchange (CSE) has been improving gradually, so you should consider investing a small amount into stocks which are ‘strong’, and over time reinvest, or take the safer route and look at preference shares or other investment options. However a word of caution: wealth takes time to build. If you lose money beyond a certain amount, walk away.

4. Improve your financial awareness: If you are not financially sound, now’s the time to start learning. The more you know about finances, the fewer mistakes you will make. Start by tracking where every Rupee goes, and then move on to the next stage. The knowledge learned and your personal experiences will allow you to generate more wealth and help you reach your financial goals faster. Some good books to start with include ‘The Investment Answer,’ ‘Rich Dad Poor Dad’, ‘I Will Teach You to be Rich’, ‘The Money Book for the Young, Fabulous & Broke’ and ‘Think & Grow Rich’

(Two great books to improve your financial awareness. Photo credits: Amazon)

5. Pay bills on time & skip the credit card: This is a favorite of mine, and sounds pretty obvious. However, a lot of people don’t pay their bills on time-sometimes they forget, or just don’t have a lot of funds. Bottom line is that companies will dislike and possibly slap you with a fine if you don’t pay bills on consistently, on time. On top of that, say no to credit cards. It’s a bad way to get yourself into debt by purchasing things which you don’t need with the money you don’t have.

Seriously, dont forget to pay your phone bill

6. Invest in what you need, not what you want: Speaking of needs, invest in the things which are important. As a young person, this may be a bank loan for your education, a car, stocks & bonds, investment plans, life insurance or a house. It makes less sense to overindulge in food and entertainment as they are things which you ‘want’, but are not necessary essential items which you ‘need’.

7. Stay Healthy: Sounds obvious but it makes a lot of sense to stay healthy. If you were to fall ill or get into an accident then it would cost you a fair bit on hospitalization cover and possibly lost wages. Take time to exercise and stay fit, because not only is it a good habit, but guarding your health is one of the smartest things you can ever do.

What do you think of these ideas? Give us your thoughts in the comments!

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

Under 30? Here are 5 Reasons Why You Need Life Insurance

Ahh youth.. Its time of life in which you have so many options and the world is your oyster. For most young people, they feel invincible. Besides, life insurance is only for older folks right?

Nope.  

You like your odds: only a handful of adults will have their lives shattered in an instant. However, are you willing to bet that it wont be you? What could happen to you if are diagnosed with a serious illness or disability? How will you be able to pay for your medical costs, your transport or even your daily expenses? Here are 5 ways to protect yourself via life insurance:

1) Lower Premiums

As mentioned earlier, being young is the ideal time to get health insurance; you are seen as low risk and thus, become more likely to pay a lower premium. Fixing the premium early means it wont change as you get older. As time goes on, your income will rise as you advance in your career, meaning that the premium is a much smaller expense than before. Fixing a lower premium now ensures your payments will be cheaper in the long run-meaning more money for you!

2) Cover debts

If you are like many of the youth in Sri Lanka, chances are you may have some form of debt: this may be in the form of an educational loan, a vehicle loan or credit card debt. Should something happen to you, the debts are not written off. Surely, the last thing you want to do is to leave your family with a large financial burden? Didn’t think so. Life insurance provides you with a lump sum in the event of death/critical illness. This will cover your expenses, and leave a little extra for your family if you are lucky!

Just like a Lannister, you need to pay your debts. Image Credit: Dailymail UK

3) Protection for life

If there is one good reason to buy life insurance when you’re in the peak of your health its this: you may not always be that way.

Although you are healthy today, you can get severely injured/fall dangerously ill tomorrow. If your circumstance change, then your eligibility for life insurance changes accordingly. When you are young, there is a better likelihood of acquiring cover without the need for medical tests (unlike when you are older), which is less of a hassle for you. In addition, it provides you peace of mind knowing that you are protected for life.

4) Income protection

If you’re young, there is a good chance that you’re quite bold. You could be a thrill seeker who wants to try out skydiving or other daring activities. On the other hand, you may prefer to hang out with your friends, but you are still susceptible to get injured or sick. Ask yourself right now, “What would happen to my income if I was too sick/injured to work?” You’d have a ton of medical bills and various other expenses to pay. Life insurance comes to the rescue by providing you with a lump sum, or cover a part of your income while you are injured.

Just ensure that you have life insurance if you wanna try this. Image Credit: Gettyimages

5) Flexibility and Support

A lot of individuals feel that when you are ‘locked in’ a life insurance policy, you will be with the same policy for life. This is simply untrue. When you go through milestones such as marriage, your first child or buying a house, your cover can be increased. In fact, depending on the policy, you may be able to withdraw a percentage of your sum assured in order to support yourself financially.

The main point is: being a little more prepared will allow you to enjoy your youth since you know you are covered if something were to happen. Besides, being an adult means that its time for you to shoulder responsibility; purchasing life insurance shows that you are being responsible about your own life.

If you feel like making a smarter choice for your future: book an appointment on our 24/7 hotline 0114-384-384 and ask about My Life, a flexible life insurance plan made for smart youngsters like yourself.

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