LIC Lanka introduces low cost life insurance product

Life Insurance Corporation (Lanka) Ltd is the local arm of India’s largest life insurance company,  LIC of India. Focusing on providing only Life Insurance benefits to the people.  LIC Lanka recently announced launching of its new life insurance product to the market.

This product known as “Pure Life Insurance” provides abundance of life insurance benefits at a very low cost,where the customers are free to choose the period of life insurance coverage for them.

Generally all persons, male or female, are in need of life insurance coverage, but unfortunately only a few can really afford it because of the high cost of premium.

Therefore ,The Pure Life Insurance Scheme introduced by LIC Lanka ,makes life insurance coverage affordable to many people by pricing the premium very low.

So much so, a person earning an average income can now buy LIC (Lanka) Pure Life insurance policy for a higher benefit than he/she could otherwise afford under any other life insurance policy. Thus LIC (Lanka) Pure Life Insurance policy offers an excellent opportunity to persons with low income but having a large family of dependants to care for.

LIC (Lanka) has taken great care in ensuring that the customer gets the maximum life insurance benefit at low cost by ensuring that peripheral minor risks are excluded from the policy.  LIC Lanka’s Pure Life Insurance gives the customer the option to decide on the period of life insurance coverage he/she wants.

Explaining the key features of the Pure Life Insurance product, Mr. Jagannath CEO/Managing Director of LIC Lanka pointed out that this Pure Life Insurance Policy provides financial benefits in the event of death.  The primary value of Pure Life Insurance is to fulfill financial responsibilities of a person to his family members in the event of his unfortunate death. LIC Lanka Pure Life Insurance policy if taken for long period the premium is very much less.

Generally, financial advisors and other experts readily recommend Pure Life Insurance policy as a means to cover potential expenses, until such time that there are sufficient funds available from savings, to financially protect those persons whom the life insurance coverage was intended to protect.  For example, an individual might choose to buy a life insurance policy which would expire close to his/her retirement age, based on the premise that, by the time the individual retires, he or she would have amassed sufficient funds in retirement savings to provide financial security for their dependents”

Mr Jagannath went on say that through the Pure Life Insurance Policy, LIC Lanka is able to offer affordable options without sacrificing quality.

He added “ that the Pure Life Insurance Scheme offered by LIC Lanka is uncomplicated with benefits and services that are easy to understand.  In India this product has been hugely successful. Since the premium is very affordable, we have seen people with low income and high insurance requirements going for this product.  Also high net worth clients who use their funds in risky investment like equities, real estate etc has also opted for the Pure Life Insurance policy to fulfill their financial protection needs.  Corporate can also insure their ‘key persons’ under this scheme.

Mr. Jagannath further said “In today’s uncertain world there could be calamity at every step of life and it is up to the breadwinners of the family to ensure that his family stays protected always.  Therefore, in the eventuality that your family is forced to adapt to the world without you they should be free of any additional burden or financial worries. LIC Lanka’s Pure Life Insurance protection plan helps you to do exactly that. Whilst we understand that nothing can compensate for the loss of life, we intend to provide you peace of mind that even in your absence your family’s financial security should be assured under all circumstances.  We are confident that we will be able to give our clients in Sri Lanka the Pure Life Insurance protection plan that offers comprehensive coverage where they can enjoy our higher life insurance protection at economical rates that will suit their needs.