The world’s number one insurance brand Allianz has announced the launch of its new Divitharana Insurance product, which provides comprehensive life and health insurance for policyholders and their loved ones, at an easily accessible and affordable price. The product, which has been designed for the mass market, a segment that is highly price sensitive, comes with a host of benefits and features, making it a truly comprehensive insurance product, that covers all of life’s important bases, protecting life’s most precious things.
Tailored for the mass market, which includes farmers, fisherfolk, technicians, teachers, executives and other members of the general public, Divitharana Insurance provides life insurance at a flexible and economic price point, with the option for policyholders to settle the premium in monthly, quarterly, biannual or annual instalments, while also providing the convenience of increasing the cover provided during the policy period, without having to go for a new policy. These are particularly important features amidst the present economic challenges the nation is facing, as it allows everyone to have access to good and reliable insurance, regardless of their income level and style.
A key differentiator of Divitharana insurance is that each policyholder will be entitled to an individual investment account, on which an annual dividend will be declared and the proceeds credited to the policyholder’s account. On top of this, policyholders will also be entitled to an additional loyalty bonus of 20%, which will be added to the maturity value for continued on-time premium settlements. other than the life cover provided by Divitharana, policyholders can also opt to include additional covers such as Disability Benefit, Critical Illness and Hospitalisation cover, while also enjoying the flexibility of extending the insurance cover to include their spouse & children.
Discussing the new Divitharana insurance product, Jayalal Hewawasam, Chief Executive Officer, Allianz Life Insurance Lanka Ltd. said, “At Allianz, we are committed to helping our customers protect what is most precious to them in life, giving them the confidence they need to chase their dreams. Divitharana is an extension of that commitment. We set out to create a holistic product that could help people cover all their most important bases with ease, convenience, affordability and accessibility. Being driven by a keen understanding of our customers’ needs, we have been able to develop Divitharana as a revolutionary product for Sri Lanka’s insurance space. As a highly tailorable, customizable and flexible product, we believe that Divitharana will help to fill the void for accessible and affordable insurance products in the mass market segment, further strengthening our position in the domestic market.”
The Allianz Group is one of the world’s leading insurers and asset managers with 126 million private and corporate customers across 70+ countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services, credit insurance, and global business insurance. Allianz is one of the world’s largest investors, managing around 809 billion euros on behalf of its insurance customers. Additionally, the Company’s asset managers PIMCO and Allianz Global Investors (Allianz GI) manage more than 1.9 trillion euros worth of third-party assets.
Allianz Insurance Lanka Ltd. and Allianz Life Insurance Lanka Ltd., known together as Allianz Lanka, are fully-owned subsidiaries of Allianz SE, a global financial services provider with services predominantly in the insurance and asset management business, headquartered in Munich, Germany. The global strength and solid capitalization of the Allianz Group, coupled with local expertise and business know-how, have been Allianz Lanka’s powerful formula for success.