Frequently Asked Questions (FAQ)

Life
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Q: What is the Maximum life cover I can purchase from this Life Policy?
A: Life policies can be purchased up to the maximum sum of Rs. 2,000,000. However, it differs with the age
  • 46 and above - Rs. 400,000
  • 41- 45 – Rs. 600,000
  • 36-40 – Rs. 800,000
  • Less than 35 – Rs. 1,000,000
Q: When will I get the life protection for the life policy?
A: Once the single premium is paid and the policy is issued.
Q: For how long will I get protected under the life policy?
A: For a period of 5 years from the commencement date of the policy.
Q: How do I pay for my premiums?
A: Premiums can be paid by using Credit cards and Debit cards.
Q: Who will get the claim if something happens to me, under the life policy?
A: The beneficiaries will receive the claim.
Q: How can I change my Nominee?
A: Nominee changes can be made by filling the nominee form. The form can be downloaded by using https://www.ceylincolife.com/customer-downloads/ . The completed form can be handed over to your nearest branch along with your NIC No.
Q: How to submit a claim?
A: Follow our easy claim process to make the claim The relevant documents can be downloaded from the link below. https://www.ceylincolife.com/customer-downloads/
Q: Is there any situation where the benefit is not payable.
A: If the death of the Assured should occur as a result of engaging in or participating in any way or any manner in any war or war like operation (whether war be declared or not). civil war, rebellion, insurrection, any terrorist activity, civil commotion, military or usurped power, riot, mutiny, invasion, acc of foreign enemies or any act against any lawfully constituted authority, the Company shall not be liable co make any payment what so ever under the Policy. Whenever the Company disclaims liability under this clause, the burden of proving that the death complained of was not occasioned or did not result from any of the causes referred to above. Shall be on the person claiming any benefit under the Policy.
Q: Under which circumstance will my Insurance policy get terminated?
A: The Insurance policy will be terminated under following circumstances
  • Upon the death of the policy holder
  • Upon the policy expiry after five years
Q: How can I cancel my Policy?
A: The life assurance policy may be cancelled by returning the policy document and providing a written notice to the company within 21 days from the date of commencement of the policy as indicated in the schedule. In the event of cancellation, the company will refund all premiums paid during the period. (If the company has incurred any medical expenses, that can be deducted when doing the refund in the event of a policy cancellation.)
Q: I would like to find more about Ceylinco Life’s Insurance products. Whom should I contact?
A: We can connect you to our Sales Advisors. Please visit our website by clicking on the link www.ceylincolife.com or call us at +94 11 2461461 to know more about Ceylinco Life products. If you want to be contacted by one of our Sales Agents please leave us your contact details via the following link. https://pay.ceylincolife.com/leads/
Retirement
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Q: What is the Maximum life cover I can purchase from this Life Policy?
A: There is no restriction to the amount of retirement policies you can purchase. Any amount can be purchased.
Q: Do I get entitled for a life protection under the Retirement policy?
A: Yes you are entitled, the policy covers both death & TPD and the payout depends on the premiums paid and the Account balance.
Q: How do I pay for my premiums?
A: Premiums can be paid by using Credit cards and Debit cards.
Q: How can I change my Nominee?
A: Nominee changes can be made by filling the nominee form. The form can be downloaded by using https://www.ceylincolife.com/customer-downloads/ The completed form can be handed over to your nearest branch along with your NIC No.
Q: If there’s a death or total permanent and disability, how can my beneficiaries settle my retirement fund balance?
A: In the event of the death or total and permanent disability of the assured prior to the date of maturity, the Company shall, upon due proof of such death / disability, make payments to the beneficiary/s or assured subject to the following conditions:
  • (a)If death/total and permanent disability occurs within 12 months of the commencement date, the company shall refund the premia paid. If the death/disability is due to an Accident, the Company will pay the higher of the following:
    • (i) The accumulated balance in the Individual Fund, or
    • (ii) 125% of the total premia due and paid including top up premia.
  • (b)If the death/total and permanent disability occurs after 12months from the date of commencement of the policy the Company will pay the balance in the Individual Fund or 125% of total premium due and paid by the assured at the time of death/disability whichever is higher.However,the additional 25% of the total premium referred to herein will not,in any event,exceed Rs.1 million per life.
Q: Under which circumstance will my Insurance policy get terminated?
A: The Insurance policy will be terminated under following circumstances
  • Upon the death of the policy holder
  • Upon the policy maturity
Q: How can I cancel my Policy?
A: The contract may be cancelled by returning the policy document and providing a written notice to the company within 21 days from the date of acknowledgment of the policy. In the event of such cancellation The Company will refund all the premiums paid during the period. If the policy is cancelled after 21 days, account balance will be paid
Q: I would like to find more about Ceylinco Life’s Insurance products. Whom should I contact?
A: We can connect you to our Sales Advisors. Please visit our website by clicking on the link www.ceylincolife.com or call us at +94 011 2461461 to know more about Ceylinco Life products. If you want to be contacted by one of our Sales Agents please leave us your contact details via the following link. https://pay.ceylincolife.com/leads
Investment Oriented Life Plan
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Q: What is the maximum amount of Investment Oriented Life Plans that I can purchase?
A: There is no restriction to the amount of Limited Term Endowment policies you can purchase. Any amount can be purchased.
Q: Do I get entitled for a life protection under the Investment oriented life policy?
A: Yes you are entitled.
Q: How do I pay for my premiums?
A: Premiums can be paid by using Credit cards and Debit cards.
Q: How can I change my Nominee?
A: Nominee changes can be made by filling the nominee form. The form can be downloaded by using https://www.ceylincolife.com/customer-downloads/ The completed form can be handed over to your nearest branch along with your NIC No.
Q: How to submit a claim?
A: Follow our easy claim process to make the claim The relevant documents can be downloaded from the link below. https://www.ceylincolife.com/customer-downloads/
Q: Is there any situation where the benefit is not payable or subject to restrictions.
A: If the death of the Assured should occur as a result of engaging in or participating in any way or any manner in any war or war like operation (whether war be declared or not). civil war, rebellion, insurrection, any terrorist activity, civil commotion, military or usurped power, riot, mutiny, invasion, acc of foreign enemies or any act against any lawfully constituted authority, the Company shall not be liable co make any payment what so ever under the Policy. Whenever the Company disclaims liability under this clause, the burden of proving that the death complained of was not occasioned or did not result from any of the causes referred to above. Shall be on the person claiming any benefit under the Policy.
Q: Under which circumstance will my Insurance policy get terminated?
A: The Insurance policy will be terminated under following circumstances
  • Upon the death of the policy holder
  • Upon the policy maturity
Q: How can I cancel my Policy?
A: The policy may be cancelled by returning the policy document and providing a written notice to the company within 21 days from the date of commencement of the policy. In the event of such cancellation, The Company will refund all the premiums paid during the period. If the policy is cancelled after 21 days, surrender value will be paid.
Q: I would like to find more about Ceylinco Life’s Insurance products. Whom should I contact?
A: We can connect you to our Sales Advisors. Please visit our website by clicking on the link www.ceylincolife.com or call us at +94 011 2461461 to know more about Ceylinco Life products. If you want to be contacted by one of our Sales Agents please leave us your contact details via the following link. https://pay.ceylincolife.com/leads