SANASA Life Insurance Company, a leading Life Insurance provider in Sri Lanka, has created history by becoming Sri Lanka’s first-ever company to reinstate the life insurance policies of over 21,000 policyholders, with the support of German NGO GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH).
These life insurance policies had lapsed as the policyholders were unable to pay their premiums due to their financial struggles caused by the COVID-19 pandemic. As a responsible corporate citizen that has the wellbeing of the people at heart, SANASA Life Insurance stepped forward to help these policyholders by allocating several million Rupees to settle all pending premiums. As a result, these customers’ life insurance policies are now reactivated and they have the necessary protection to move forward with their lives and businesses as the country gradually emerges from the pandemic situation. Additionally, SANASA Life Insurance has gone a step further in helping the people of the country by introducing a Rs.1 million free COVID-19 cover for any new life insurance policy.
SANASA Life Chief Executive Officer Indika Kiriwandeniya stated, “We all know that the COVID-19 pandemic has caused great hardship to millions of Sri Lankans. Our customers who depend on small businesses for their monthly income were suddenly left with no funds to even buy food, let alone their insurance premiums. As a company that believes in helping people in their hour of need, we entered into a partnership with leading German NGO GIZ to help these 21,000+ policyholders to face the future with confidence now that their pending premiums have been settled and their life insurance policies have been reinstated. Moreover, the Rs.1 million free COVID-19 cover for any new life insurance policy will provide new customers with added protection at no extra cost.”’
SANASA Life Insurance has been a giant in the field of insurance in Sri Lanka for nearly 30 years. It was established for the purpose of giving relief to the people of rural areas who met with accidents. In October, 1991 All Lanka Mutual Assurance Organization (ALMAO) was established and the monthly fee was set to a small sum of Rs. 5 to 20 and thereby the foundation for an immense insurance company was laid. In 2003, SANASA obtained the license to operate as a Life Insurance company and two years later acquired the license to operate as a General Insurance company. Today, SANASA is one of the leading insurance service providers in Sri Lanka providing thousands of job opportunities to the younger generation.