HNB Assurance Introduces StudyGuard

CEYLON TODAY | Published: 2:00 AM Jun 19 2021

HNB Assurance PLC (HNBA) recently announced the launch of StudyGuard, a comprehensive Life Insurance cover with a host of special benefits designed to take good care of every child’s school education, and ensure they become whomever they aspire to be. StudyGuard gives parents peace of mind in ensuring all obligations towards their children are fulfilled. 

This new cover from HNBA boasts many features that are most suited for today’s diverse education needs of children, and provides greater relief to parents in the event that they are faced with uncertainties in life.

 Sharing his thoughts on StudyGuard, the Chief Executive Officer of HNBA and its fully owned subsidiary, HNB General Insurance Limited (HNBGI), Prasantha Fernando stated, “Future generations have no bounds to their ambitions, and so they aspire to conquer the world, become role models who lead communities, and inspire their peers to never stop chasing their dreams. Being a parent, your responsibilities are endless as your child’s future and safety become the highest priority you aim to fulfil. 

Keeping this in mind, HNBA developed StudyGuard to provide the comfort of uninterrupted school education for your little ones, so that no matter what, the foundation for their tertiary education and future aspirations would be laid.” Speaking about StudyGuard, the Chief Operating Officer of HNBA, Lasitha Wimalaratne stated, “HNB Assurance StudyGuard is a Single Premium Policy with a range of special benefits that helps secure the future of your child. StudyGuard has been designed to take over the payment of your child’s school fees in the event of your unforeseen demise, total and permanent disability, or even a critical illness. Features of the Policy vary based on the selected StudyGuard plan, which are namely, Prime, Plus and Premium. 

The key benefit of StudyGuard is that the payment of the school term fee, that will be made subject to a minimum of LKR 25,000 and a maximum of LKR 200,000 per term. The number of years the school term fee is paid will be determined by the selected plan.

 Wimalaratne added, “The plans Plus and Premium will see that the three 3 school term payments per year are made from the date of demise or total and permanent disability onwards up to the end of the policy term, including the term payment being increased by 5% and 10% respectively with compound interest basis, each year. As such we invite all to contact HNBA and avail yourself the benefits of StudyGuard.”

CEYLON TODAY | Published: 2:00 AM Jun 19 2021

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