Sri Lanka Insurance launches ‘School Fee Protector’

• The policy will cover the duration of your child’s education in a private or an international school in Sri Lanka

The national insurer Sri Lanka Insurance launched ‘School Fee Protector’ Life Insurance plan, to ensure an uninterrupted education for children studying in private and international schools. 

SLIC ‘School Fee Protector’ is introduced after recognising competitive lifestyles and the significant financial responsibilities of the communities in Sri Lanka. 

By paying all pending school fees in the event of a parent’s unforeseen demise or total permanent disability, ‘School Fee Protector’ plan assists in ensuring an uninterrupted education to the children of private and international schools. 

With school fee continuing to rise more faster than wages, ‘School Fee Protector’ can safeguard your child an uninterrupted education in the event that the worst occurs. With School Fee Protector, the child will not experience the misery of having his or her education disrupted or completely discontinued in such circumstances where the ability to pay remaining fees would otherwise no longer exist. 

The parents aged between 18 to 65 years at the time the policy is taken can purchase ‘School Fee Protector’. Parents can choose the policy term and cover value according to the remaining number of school years and fees for the child and commence the policy with a single premium for the entire policy term. Cover can be taken at any time, not just at the beginning of the school year.

SLIC consistently evolves and aligns its services and products to accommodate Sri Lankans’ ever-changing consumer dynamics and continuously strives to safeguard communities, through product and market development activities that offer innovative and accessible insurance solutions. 

We have always taken a keen interest in protecting and nurturing the children of this country to accomplish their dreams and become better citizens. School Fee Protector is yet another endeavour in this aspect.  As a State-owned insurer and the pioneer of the insurance industry, Sri Lanka Insurance has been serving to the nation for over 6 decades, with a managed asset base of over Rs. 268 billion and a Life fund of Rs. 152 billion, the largest in the local insurance industry. 

The company is also the first and only local insurer to secure Fitch Ratings AA (lka) rating for its long-term financial stability and is now serving customers through an extensive network of over 190 branches and customer service locations.