Like a Father – Like a Mother

Insurance Proposal

Prepared

For

XXXXXXXXX

By

Sri Lanlka Insurance Corporation Ltd

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Business Insurance Proposal

For

LEADER GROUP

Presented

By

Financial Services Advisor

Of

R. D. Chaminda de Silva

Contact No: +94 77 4170800

From

Sri Lanla Insurance Corporation Ltd .

No. 21, Vauxhall Street, Colombo 02.

Web: www.srilankainsurance.com

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Cover Letter

What is Insurance.?

It is a contract between the Insurance Comany & the Person/ Legal body to reimburse

or to minimize the financial losses in the event of unforeseen-unavoidable

event/events.., in this case SLIC Corporate Group Term Insurance scheme covers

the Hospitalization cover coupled with Life cover for a minimum of small Rs.1,000/-

per month for a sum assured for Rs.100,000/- (and this monthly premium can be

escalated from Bottom to Top position level in the Company) per month which will

be greatly benefited by both parties.

What is SLIC Corporate Employee Insurance Scheme...???

SLIC Corporate Employee sheme is a unique Hospitalisation Insurance solution, coupled

with Life Insurance Cover where the sum insured minimum of Rs.100,000/- and so on,

that gives complete protection for Company’s employees aged between 18 to 65 years

in the permanent carder which ranging from 5 – 30 years. This is a tailor-maid solution,

which provides a Trouble Free Mind for the workers that covers them and their

lovedones (i.e. legal Dependents). Beauty is that the HR Department/ Company Owners

don’t have to worry about their Employee’s well-being/ safety OR about the

compansations in the event of tragic envents of their subodinates and their dependents.

Not only they can get all the hospitilization benifits (i.e. Room charges, Nursing/ ICU/

Surgery Expenses, Surgeon/ Anaesthetist/ Medical pactitioner/ Consultant/ Specialist

fees etc.), they also get the life cover as follows;

SLIC Corporate Group Term

Insurance = Hospitalization Cover + Life Cover

OR

The company can obtain either of the “Group Term Hospitalisation Cover” OR the

“Group Term Life Cover”, if they already have for their employees.

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GROUP TERM HOSPITALISATION COVER

This is a special Insurance solution designed to provide Life Insurance Coverage to

a group of person under one single contract..

This provides a choice of health covers to match the Medical requirements to its

members.

The benefits proveded under this scheme are as follows;

01. Inpatient Benefits (Private Hospitals) Hospital & Nursing Home Maitainance Charges including Room Charges.

Consultant’s and Specialist’s Fees, Surgeeon’s and Anesthetist’s Fees

Medical and Operational Expenses, Nursing Charges including use of operational theatre

Investigations & Special Treatment on the Reccomendation of Consultant Specialist on Hospitalization.

Other Additional Benefits Benefits (Private Hospitals) o Normal Child Birth cover (liability effects after 10 months), applicable to

family unit/ married employees.

o Cesarian Child Birth Cover), applicable to family unit/ married employees.

o Amount payable for Forceps and Vacuum delivery), applicable to family unit/ married employees.

02. Inpatient Benefits (Government Hospitals) A daily cash benefit can be given while they stay in in the Government

Hospitals, if they hospitalised for One day or more for maximum of 15 days (One night considered a Day).

Expenses incurredon Drugs purchased & Test, Scans, X-rays undergone whilst being an inpatient in a non paying ward of a Government Hospitals, subjected to bills being produced.

03. Outpatient Benefits i.e. Cost of drugs (excluding Vitamins) from a Specialist or MBBS Doctor or Special consultation fees, tests & investigations, subject to bills being produced.

Other Optional Benefits under this scheme

a) Birth of Twin within indoor limit), applicable to family unit/ married employees.

b) Cost of Lens Kit for Cattract surgery.

c) Emergency Traveling Allowance within Sri Lanka to obtain emergency treatment charges payable within indoor limit, subject to bills being produced.

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GROUP TERM LIFE COVER

This is a special Insurance Scheme designed to provide Life Insurance Coverage to

a group of person under one single contract.

This cover provides economical life insurance protection to its members.

The benefits proveded under this scheme is the Capital Sum payable in the event of

death of a member before retirement and no benefits are payable on survival or

retirement.

The maximum sum insured will be limited to Rs.10 million, per individual.

Other Optional Benefits under this scheme d) Accidental Death Benefit.

e) Total & Permanent Disability Benefit (due to Accident or Sickness).

f) Partial & Permanent Disability Benefit.

g) Critical Illness Cover.

h) Hospital Cash (family members/ dependents can be included).

i) Funeral Expenses Cover (family members/ dependents can be included).

Premium & Rates

A completed confirmed proposl which includes premium monthly rates can be provided

in due course/ after we agreed and given Employees’s actual information we need as

follows;

i. Number of employees to be insured.

ii. List of Employees with date of birth.

iii. Flat sum assured per each member or different Sum Assured according to the designation or the category.

iv. If the desired Sum Assured is a multiple of the Gross/ Net Salary, the monthly Gross/ Net Salary.

SPECIAL NOTE: Please note that higher the number of Employees lower the monthly

premium will be.

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Other Terms & Conditions

The cost of the insurance is usually met by the Company/ Employer, but in this case we suggest that half of it should be contributed by members/ employees. However, the mode of payment of premium is monthly in advance.

The policy is intended for groups of individuals who are in permanent carder and the minimum Number of employees required is 25 and please note that higher number of employees leeds low monthly premium.

Cover will usually not be available under this policy beyond age 65 years in the permanent carder which ranging from 5 – 30 years..

The employees can add their spouse until the age of 70 years, and up to 5 dependent children under the age of 20 years and they will be covered until the age of 25 years

Medical Reports will not normally be required by the Sri Lanka Insurance Corporation, but reserves the right to call for Medical Reports specially for high Sum Assured.

Why we can be trusted/ fit to do the job....????

Over 50 years of Experience in serving the nation Sri Lanka Insurance Corporation is having over 50 years of experience & expertise offers a wide array of Insurance solutions tha meet diverse consumer needs.

An Asset base of over Rs.90 Billion The strenth & stability of Sri Lanka Insurance Corporation is further affirmed by an unsurpassed Asset base of over Rs.90 Billion under management.

A Life Fund of over Rs.50 Billion The Sri Lanka Insurance Corporation has the largest Life Insurance fund in the industry which is professionally managed and currently stands of over Rs.50 Billion. As a result when you get a (participatory) life insurance policy from Sri Lanka Insurance Corporation, you will become a member of this life fund and will receive a bonus from the very first year.

Superior Benefits With a SLIC Corporate Emplyee Insurance plan from Sri Lanka Insurance Corporation.you gain/ eligible all hospitilisation covers with a Life cover that no insurance policy can substitute that you earn bonus on total sum assured and not on the premium paid by the employees.

150+ Branches Sri Lanka Insurance Corporation has a large distribution network that offers customer convenience when purchasing a policy, paying premiums or intimating a claim.

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AAA RAM Ratings Sri Lanka Insurance Corporation is the only insurance company in Sri Lanka as of to achieve AAA, which is the highest ‘long term claim paying ability’ rating by RAM. This confirms Sri Lanka Insurance’s superior capacity to meet financial obligations to policy holders.

AA (lka) Fitch Ratings Sri Lanka Insurance Corporation is the first insurance company in Sri Lanka to be assigned a global rating for financial strength & stability by an international rating agency – FitchRating (London). This is an independent assurance on the company’s long term financial sustainability.

IMPORTANT: This proposal is a general outline of the terms and conditions of the

insurance proposed by the insurers, based on the information provided by your company.

It does not include all of the terms, coverages, exclusions, limitations, and conditions of the

actual policy contract language. The insurance policies themselves must be read for those

details. Policy forms for your reference will be made available upon request.

Disclaimer

We are willing to discuss any of the items relating to the processing of your business at

any time. We encourage full disclosure of our practices to assure you that we always act

in your best interest.

A. Completing the Proposal Form; Life Insurance is a legal contract Insurance Company and the Person/ Party who makes the proposal for life assurance. This contract is based on the utmost good faith between the Life Assured and the Insurance Company. This basis of the contract is the completed proposal form. Therefore it is important that the proposer should answer all questions to the best of his or her knowledge and belief and disclose all material facts. Whenever possible the application should be completed by the proposer. If the proposer does not understand the language in which the proposal has been completed, or in the event of the proposal been filled by the Insurance adviser, and a declaration must be signed by the proposer stating that the questions have been explained to him/ her or a party and that he/ she or a party fully understands that the answers he/ she or a party given will form the basis of the contract.

B. Consultant’s Report It is the Insurance advisor who introduces the correct insurance solution to an individual/ a party, after assessing his/ her party’s insurance needs. Therefore it is very important that the advisor completing this report with accurate information unbiasly.

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C. Accessing the Life Risk & Accepting a Proposal The proposal should be submitted with the first premium regardless its being a monthly, annual, biannual or quarterly mode proposal.

Proposal form, Medical reports, Income details (if required) and Agent’s Report are considered when assessing the life risk.

If the proposal meets with the Terms and Conditions of a life insurance and the premiums being paid the proposal will be accepted and a policy will be issued and that document (Policy) will have all the details of the contract as well as Terms and Conditions.

D. Proof of Age Calculating of premium will depend on the number of employees, age of employees and the additional/ optional benefits provided. Settlement of claims is subject to production of necessary evidence confirming the age of the Life Assured. Therefore it is advised to submit evidence of age along with the proposal and the following documents will generally be accepted;

Birth Certificate.

Passport.

Baptismal Certificate.

School Leaving Certificate (if it contains the Birthdates’).

Service Record (if it contains the Birthdates’) National Identity Card (New)

E. Communication Any requests that you make to confirm, bind, or alter your insurance program through e-mail, voice mail, or other automated systems will not take effect until you receive confirming communication from your [COMPANY Company] representative.

F. Claim Reporting Requirements Changing market conditions have had an adverse effect on many carriers' claim reporting terms and conditions. Many policy forms now include verbiage that severely restricts or negates coverage should a carrier not be immediately notified of a claim or potential claim. Refer to your policies for a more complete explanation of your carrier's reporting requirements.