Benefits of Life Insurance: What are they?

Life Insurance has many benefits to it. Not only it has a protection element, but it provides a helping hand in uncertain situations in life. Listed below are some key benefits of having a Life Insurance policy.

  • A Full Life Cover

The Life Cover refers to the primary benefit of the Life Insurance policy. The Life Cover will be paid to the nominated party in an unfortunate situation. There are several factors  such as the sum needed to cover daily expenses and the amount needed to overcome during an uncertain situation should be considered.

  • Long-Term Savings

A Life Insurance policy provides a systematic path by creating savings for the future. These saving would help in building a stable retirement fund or a fund for your family and children.

  • Specific Planning

Every individual goes through various stages in life and the needs and challenges of each stage differ. Having a Life Insurance policy for various life stages would help individuals to face uncertain situations and other challenges with confidence and determination.


Deepthi Lokuarachchi Appointed as President of the Insurance Association of Sri Lanka

The Insurance Association of Sri Lanka (IASL) announced the appointment of Mr. Deepthi Lokuarachchi as its President. He assumed office taking over from his predecessor President Mr. Dirk Pereira, Chief Executive Officer of Union Assurance PLC.

Mr. Lokuarachchi holds a Law Degree (LL.B) from the University of Colombo and was enrolled and admitted as an Attorney at Law in 1996. He obtained his Associate Membership of the Chartered Insurance Institute, UK and a professional Chartered Insurer status in 2004 and the status of a Chartered Insurance Risk Manager.

Mr. Lokuarachchi counts over two decades of professional experience in the fields of general management, distribution and risk management and overall operations management. He currently heads HNB Assurance PLC and its fully owned subsidiary HNB General Insurance Limited as the Chief Executive Officer. He has served many leading Insurance companies in Sri Lanka, including Eagle Insurance as the General Manager of Distribution and Risk Management, AIG Insurance Limited Sri Lanka as the Deputy Chief Executive and the Chief Operating Officer in charge of the Sri Lankan and Maldivian Operations, Orient Insurance Limited Sri Lanka, a subsidiary of Arab Orient
Insurance UAE as the Chief Executive Officer and Sri Lanka Insurance Corporation Limited as the Chief Executive Officer. Mr. Lokuarachchi was the President of the Sri Lanka Insurance Institute, the professional body of the Insurance industry in Sri Lanka.

The Insurance Association of Sri Lanka was formed in 1989 as a collective of all Insurance service providers and it remains the premier Body of the Insurance Industry that handle matters of common interest to insurers and also liaises very closely with the Regulator in respect of matters concerning Life and General Insurance industries and work towards enhancing awareness regarding Insurance and promotes uniform and sound practices and high ethical standards within the industry.


Tips for a Successful Career

Here are 07 important tips to boost-up your career!

  • Prioritize Your Goals

Have a list prepared on your daily tasks and ensure to prioritize your goals for the day. The tasks of the day must be outlined with the most important and urgent ones on top. In a similar manner, plan out your short-term and long-term goals and evaluate your progress frequently.

  • Stay Focused

Avoid distractions and stay focused on your daily tasks. Keep track of time in completing each task. Prepare a to-do list each day and compare your completed tasks against the prepared list. This will help you to stay focused on your daily tasks.

  • Broaden Your Skills

Nothing remains the same and so do job requirements. Update your knowledge and skills. Seek improvement of your know-hows. Attend seminars, conferences, read books, be an eternal learner.

  •  Socialize

Be ready to participate in social functions. Be open to new acquaintances. Meet new people and deal with them respectfully and enthusiastically. Be an active listener; you will surely learn something new.

  • Know Your Skills and Competencies

Know your strengths and weaknesses. Capitalize on your strengths and work on your weaknesses. Look out for opportunities and threats within the industry.

  • Communication Skills

Learn to communicate effectively. Listen to what others are saying and focus on how to give and receive constructive feedback, to persuade effectively and to ask for help and collect information.

  • Seek satisfaction

If you are disappointed with what you are doing, try to transform it into something you love. Job satisfaction is important in climbing the corporate ladder. Participate in Continuous Professional Development programs related to your career.


Glitz and Glamour at HNB Assurance Banca Night

HNB Assurance PLC (HNBA), held its annual Banca Night to felicitate the finest achievers of the Bancassurance Channel over the gone year.  This day of celebration was graced by the presence of the Chief Executive Office of HNBA and its fully owned subsidiary HNB General Insurance Limited (HNBGI), Deepthi Lokuarachchi and many other distinguished guests.

Deepthi Lokuarachchi, Chief Executive Officer of HNBA and HNBGI thanked the Bancassurance Team led by Madawa Gunaratna, Senior Manager, Partnerships of HNBA for the immense contribution towards the growth and development of the business. Sharing views on this special occasion, Lokuarachchi stated “the Bancassurance spectrum is a vital business channel with an impact on the growth of the business. The dedication and commitment of our Banccassurance Force has played a significant role in achieving the business targets and has helped the business to grow in a highly competitive landscape by capitalizing on their core competencies and expertise.

Sharing views on this occasion, Assistant General Manager Deposits and Remittances & Chief Employee Experience Officer of Hatton National Bank PLC (HNB), Kalum Wijesooriya stated, “HNB is extremely pleased on the outcome of the Bancassurance Channel and how synergies within the Group helps in seizing opportunities in fast-growing financial markets”. Accordingly, M. M. Sanjeewani attached to the Mahiyanganaya Branch was awarded with the Best Junior Executive Award and J. M. L. S. Jayasundara of the Thambuttegama Branch won the accolade for the Best Bancassurance Officer.