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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.

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.

Life Insurance - HNB Assurancewww.hnb.net

Ranmaga

Pradeepa

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.*

Ranmaga Special Features

  • 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

Ranmaga Benefits

  • 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 Benefits

  • 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

Summary of Ranmaga

  • Maturity - Fund Value
  • 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

or

downloadthebrochure

* Conditions apply as per regulations

Pradeepa

Pradeepa

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

The extensive coverage includes: 

  • 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) 

A choice of additional covers

  • Additional life cover. 
  • 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
  • Spouse benefits
  • Medical reimbursement critical illness and hospitalization benefit for children can be added

Covers for your conveniance and needs

  • 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 

Summary of Pradeepa

  • 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

* Conditions apply as per regulations.

Rashmi

rashmi

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.

Benefits Payable On Survival

  • 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).

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

Summary of Rashmi

  • 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

* Conditions apply as per regulations.

Ran Aswanu

ranaswanu

Ran Aswanu.

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.

Summary of Ran Aswanu

  • Maturity - Double the sum assured together with accrued bonus on death prior to maturity
  • Specified for - Seasonal income earners
  • Fixed Terms - 10 years
  • No specific day for premium payment during the year
  • Additional Benefits - HB, CIB, TPD & PPD accidents only
  • No Lapsation

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

* Conditions apply as per regulations.

My Life

mylife-logo-E

Enriching young Lives

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 Marriage
  • The birth of your child
  • Your child’s school admission
  • The purchase of your Vehicle
  • Higher Education
  • Emergency hospitalization
  • Accident (Own/spouse/child)
  • Loss of employment
  • Foreign Travel

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/-

Quick facts about mylife

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

Eligibility Criteria

Age between 18 - 35 years

Duration of the policy

15 Years

Premium Payment options

Monthly, Quarterly half yearly or annually.

Summary of My Life

  • 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

* Conditions apply as per regulations.