30 Days

Dear Policyholder

This is to inform you that the premium in respect of your policy will exceed the 60 days grace period allowed under the premium payment warranty clause of the insurance policy.

Whilst requesting you to pay the premium in order to ensure that the cover under the policy continues, in the event of the premium not being settled within 60 days from the date of inception, the policy and the insurance cover therein will become automatically null and void from the inception and we shall not be liable for any claim devolving on the policy.

The above consequential action is in terms of the premium warranty Clause which all Insurers have been directed to impose, by the Insurance Regulatory Commission of Sri Lanka.

The salient features of the premium warranty clause are detailed below:

• Full premium due in respect of any insurance should be settled to the Company within sixty (60) days from the date of inception of the Policy, renewal certificate, Endorsement or cover Note.
• The settlement of full premium on or before the due date is a condition precedent to the Company’s liability or an obligation to settle any claim arising from the policy.
• If the full premium payable under the policy remains outstanding after the expiry of 60 days, the policy and the insurance cover become automatically null and void from the inception.
• However, the Company reserves the right to demand full or any part of the defaulted premium attributable to the expired period of insurance.

In the event you have already paid the full premium, please advise us the date of payment and the receipt or cheque number including the name of the bank and the branch.