Minimuthu – Children’s Policy

Insurance for all from the largest & strongest National Insurer

Minimuthu offers a policy to cover both child’s and parents’ future reiterating the belief Sri Lanka Insurance pays homage to parents as being the cornerstone of a child’s life. Minimuthu gives parents the assurance they can provide their child with a bright and stable future.

Key Benefits

  • At the end of the maturity term the child will receive 140% of the initial investment which he/she can use to fund higher education.
  • Part payments will start at maturity. Four equal installments of 35% of Sum Assured will be paid for four years from maturity.
  • If a parent dies within the premium paying term the child will receive double the sum assured immediately and all further premiums will be waived off. The child will also receive the guaranteed 140% of the Sum Assured paid on maturity in installments.
  • If a parent dies within the benefit paying term the child will receive double the balance benefit.
  • If the child dies within the premium paying time, the greatest of 125% of the premium value or surrender value will be paid. The balance part payments will be made to the parents

Who is eligible under this plan?

  • This policy is for children between the ages of 1 month and 15 years
  • The parents should be between the ages of 18-60 years
  • The child should not exceed 21 years of age before the policy matures.
  • The parents should obtain the policy on behalf of the child.

Plan: Minimuthu – Children’s Plan

Term Available: 5 to 20 years (but the term depends on the child’s age)

Age Limit

  • Child’s age should be between 1 month – 15 years
  • Parent’s age should be between 18 – 60 years
  • Child’s age should not exceed 21 years at maturity

Who Would Take: Parents can take the policy for the benefit of the child

Maturity Benefits

Part payments will start at the maturity. Four equal installments of 35% of Sum Assured will be paid for four years from maturity.

Death Benefits

  • Death of one of the parents, within premium paying term

– Double the sum assured and paid immediately

– Waiver of premium

– Part payments at maturity

  • Death of one of the parents, within benefit paying term

– Double the balance benefit

  • Death of child within premium paying term

– Refund of 125% of premium or surrender value whichever is higher.

  • Death of child within benefit paying term

– Balance of part payments to parents

Other Benefits

  • Both parents covered under the same policy
  • Eligible for annually declared bonuses

First Life (Parent)

  • SLI Surgical plan
  • SLI Comprehensive plan
  • SLI Overseas comprehensive plan
  • SLI Hospital cash plan
  • Family protection unit (Additional life cover)
  • Critical illnesses cover (Jeewaka)
  • Accidental death cover
  • Extended permanent disability benefit (Due to accident)
  • Extended permanent disability benefit (Due to sickness)
  • Permanent partial disability cover
  • Hospitalizations cover (Arogya)
  • Funeral expenses cover

Second Life (Parent)

  • SLI Surgical plan
  • SLI Comprehensive plan
  • SLI Overseas comprehensive plan
  • SLI Hospital cash plan
  • Family protection unit (Additional Life Cover)
  • Critical illness cover
  • Accidental death cover
  • Extended permanent disability benefit (Due to accident)
  • Extended permanent disability benefit (Due to sickness)
  • Permanent partial disability cover
  • Hospitalizations cover (Arogya)
  • Funeral expenses cover
  • Hospitalization cover (Arogya)

Child

  • SLI Surgical plan
  • SLI Comprehensive plan
  • SLI Overseas comprehensive plan
  • SLI Hospital cash plan
  • Critical illness cover
  • Hospitalization cover (Arogya)

Why should I select Sri Lanka Insurance as my insurance partner?

Sri Lanka Insurance is the pioneer insurance company in the island with a history spanning 55 years. Being backed by the state has added to its strength and credibility while it has the most experienced technical knowledge base. Its Life Fund of Rs. 90.3 billion and asset base of Rs. 171.8 billion are unmatched in the industry.

      Quick inquiry