Cheap term assurance. Life Insurance Plans: Life Insurance for all ages, HNB Assurance

Life Insurance

HNB Assurance PLC offers a wide variety of Life Insurance policies in Sri Lanka. We have life insurance plans such as Mychild (childrens insurance), My Life (youth insurance), MyFund (wealth management) and Mypension (retirement planning) which are tailor made for every season of your life. We provide opportunities for seasonal income earners to maximize their finances. Life insurance packages.

We encourage you to take a look at the various mortgage plans, group insurance plans, retirement plans and Takaful solutions to see which option is best for your needs.

Ranmaga is a unique life policy that increases the sum assured by 5% every year, while the premium payment remain the same. This is an investment plan with added financial benefits for protection.*

Tailor made plan to suit your own needs

Select your insurance policy from 10, 15, 20 and 25 year terms

Additional covers according to your choice, up to 65 years of age and Life cover extending up to 70 years of age

Annual, half yearly, quarterly or monthly premium payment options at your convenience

A 10 year free life cover equal to the initial basic sum assured after maturity, up to 70 years of age

Equal premium amount to be paid throughout the period even though the basic sum assured increases by 5% every year, giving you an advantage over the increasing cost of living.

Dividends declared by the company will be added to your fund account during the period of cover, enhancing your maturity benefit

In case of demise before the end of insured period, your loved ones will be paid the higher of Sum Assured or fund balance

Additional life benefits, to increase life cover up to 7 times the basic sum assured if death is due to an accident or natural

Accidental death cover up to 5 times the basic sum assured if death is due to an accident

In the event of total and permanent disablement due to an accident, the benefit will be paid in 10 installments

If total and permanent disablement is the result of either an accident or illness the premium payments for the remainder of the period will be waived

Financial benefits for permanent partial disablement.

Cover for 29 critical illnesses.

Payment of up to a maximum of Rs.10,000 per day for hospitalization, paid from the date of admission

Surgery benefit up to Rs. 1,000,000

Family income benefit up to Rs.200,000

Covers to protect your spouse with above additional covers as well

Critical illness benefits for 15 illnesses and hospitalization benefit, surgery benefit and medical reimbursement for children

A percentage of sum assured is paid for each listed surgery

Payments are made for unlisted surgeries as well

Natural Death - Fund Value OR Sum Assured + 5% × Term(up to death)+ ALB

Accidental Death - Fund Value OR Sum Assured + 5% × Term (up to death)+ ALB+ ADB

More information can be obtained from the nearest HNB Assurance Branch or from our help line on 0114384384

Apply for life insurance

The unique PRADEEPA plan is more than life insurance as we know it.

Sum Assured, together with accrued bonus at the end of the selected period or at premature death

A bonus at the end of every year

Where a maturity payment is made, life cover equal to the basic sum assured will continue for a period of additional ten(10) years or until the life assured reaches the age of seventy(70)

Accidental death benefit

Total permanent disability due to accident or sickness in the event of which, supplementary income will be provided and premiums waived

Accidental permanent partial disability benefit according to extent of disability

Critical illness cover on 29 ailments. On diagnosis, cash will be made available

Hospitalisation benefits

Medical reimbursement critical illness and hospitalization benefit for children can be added

As importantly, the new and high-benefit “PRADEEPA” policy can be tailored to fit specific needs

Period: 5 to 40 years You can choose)

Life cover up to 70 years · Chosen additional benefits up to 65 years

Premium according to your ability to pay

Maturity - Sum Assured + Bonus

Natural Death - Sum Assured + Additional Life Benefit (ALB)

Accidental Death - Sum Assured + Accidental Death Benefit + Additional Life Benefit

More information can be obtained from the nearest HNB Assurance Branch or from our help line on 0114384384

Endowment policy with participation in profits, with part payments and with extended life cover for ten years or up to age 70 years, whichever is earlier after maturity.

This policy can be issued for terms of 10, 15 and 20 years. The maximum age at expiry, including the extended period of life cover, should not exceed 70 years.

Part payment of 15% and 20% of the basic sum assured at the expiry of 4 and 7 years respectively and the balance 65.00% of the basic sum assured at the maturity date for policies with term 10 years.

Part payment of 15% and 20% of the basic sum assured at the expiry of 5 and 10 years respectively and the balance 65% of the basic sum assured at the maturity date for policies with term 15 years.

Part payment of 10%, 15% and 20% of the basic sum assured at the expiry of 5, 10 and 15 years respectively and the balance 55% of the basic sum assured at the maturity date for policies with term 20 years.

At maturity, the basic sum assured with accrued bonus will be paid.

On death, the full basic sum assured plus accrued bonus up to the date death will be paid. Full Sum assured will be paid without considering paid early life benefits.

Where a maturity payment is made, life cover equal to the basic sum assured will continue for a period of additional ten(10) years or until the life assured reaches the age of seventy(70).

Who life insurance

The following riders can be added to this policy.

Additional life benefit

Accidental Death Benefit

Total Permanent Disability Due to accident or sickness

Total Permanent Disability Due to accident only

Partial Permanent Disability Due to accident only

Critical illness benefit covering 28 illnesses

Hospitalization Benefit

Above 1 – 6 benefits for spouse

Maturity - Sum Assured + Bonus

Example: If the number of terms = 10 years

After 4 years: Sum Assured × 15%

After 7 years: Sum Assured × 20%

Another 65% will be provided on maturity with the BONUS amount

Death - Full Sum assured will be paid without considering paid early life benefits

More information can be obtained from the nearest HNB Assurance Branch or from our help line on 0114384384

Innovative insurance solutions provider, HNB Assurance has added further value to its product range, with the introduction of Ran Aswanu. An insurance policy designed to cover seasonal income earners. Ran Aswanu never burdens the customer as the premium payments can be done at one's leisure. Even if the premium payments get delayed the policy will never lapse.

Maturity - Double the sum assured together with accrued bonus on death prior to maturity

Specified for - Seasonal income earners

No specific day for premium payment during the year

Additional Benefits - HB, CIB, TPD & PPD accidents only

More information can be obtained from the nearest HNB Assurance Branch or from our help line on 0114384384

Youth is the summer of life. It is also a time of dreams, aspirations and many far-reaching decisions. The decisions we make during our youth have a momentous impact on our lives.

mylife by HNB Assurance is a very special kind of youth insurance policy that helps young people transform their dreams to reality. It is an exceptional product that adds new meaning to the lives of youth by giving them the gift of a promising and hassle-free life.

Out of the events mentioned below for a selected 3 situations, Mylife allows withdrawals of 15% of the sum assured for each of the following life situations whether planned or unplanned, before maturity a total of 45% of the sum assured can be withdrawn.

Your child’s school admission

Whole life insurance calculator

The purchase of your Vehicle

Emergency hospitalization

Accident (Own/spouse/child)

My Life further secures both you and your loved ones with following benefits

Sum assured is payable in case of loss of life

Loss of life due to an accident will result in the payment of double the sum assured.

In the event of your demise, even after enjoying the early life benefits we will pay the sum assured in full, to protect your loved ones.

Profits of the life fund will be shared with you as bonuses.

Free Life cover will continue for an additional 5 years after maturity equal to sum assured.

You do not have to go through the hassle of medical tests if the sum assured is below Rs.7,500,000/-

All My life policy holders receive a my life membership card.

Monthly, Quarterly half yearly or annually.

Maturity - Sum Assured + Bonus

Natural Death - Two times of sum assured + Bonus + ALB

Accidental Death - Two times of sum assured + Bonus + ADB + ALB

Fixed policy term - 15 years

Free life cover will be given for further 5 years equivalent to sum assured.

Family income benefit and MR (Medical Reimbursement) benefit has not included for this policy

More information can be obtained from the nearest HNB Assurance Branch or from our Customer Relation Centre on 0114384384

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