MBSL to reward ‘Vinivida’ policyholders with an impressive Actual Dividend

Thursday, 23 August 2012 00:00 - - {{hitsCtrl.values.hits}}

The insurance industry in Sri Lanka is currently experiencing a growth momentum and has posted a General Insurance growth of 20.85% and Life Insurance growth of 13%. MBSL Insurance has recorded General Insurance growth of 36.4% and Life Insurance growth of 60% well and above the industry level. Therefore, MBSL has decided to reward the Vinivida Life Insurance policyholders with an impressive Acutal Annual Dividends.

Vinivida Life Insurance Policy is a unique policy introduced by MBSL, which is a combination of the investment program together with the protection program providing many solutions to burning issues in today’s society; such as, early death of the breadwinner of a family, survival for long without proper old age provisioning or retirement planning, etc. Life Insurance General Manager D.C. Kevitiyagala stated that it covers all corners of the society giving protection to both privileged and the least privileged including a wide range of investment benefits.

Due to the growth gained over the past years, since its inception is in a position to issue a higher dividend than what MBSL has promised to its Vinivida Policyholders. The guaranteed minimum dividend rate used by MBSL Insurance was 5%, and the illustrated dividend rate was 8%. But the Actual Annual Dividend rate declared subsequently increased to 10% in 2010, 11% in 2011 and 12% is expected to be awarded in 2012.

Vinivida Policy being a flexible life policy which has the unique advantage of changing even the maturity date with a designated minimum maturity period followed by a pension option which takes care of Policyholder’s retirement after 55 years of age.

“All Vinivida Life Policies that complete five years; a Transfer Value (TV) is calculated for each and every Policy in force, and an Investment and Protection Account (IPA) will be opened automatically with an opening balance of the above-mentioned Transfer Value. These policy holders who continuously paid the premium for a minimum period of five years are given above annual dividends upon the IPA balance apart from the Special Dividends offered automatically at the time of opening the IPA,” said Kevitiyagala.

MBSL Insurance portraying an increasing trend in Actual Annual Dividend Rates declared from 10% to 12% for the respective years which symbolise a significant growth will continue to reward the policyholders fulfilling the prime responsibilities and grow into greater heights protecting all Sri Lankans in common.