1. 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.