Softlogic launches SL’s first foreign currency insurance solution

Softlogic Life has introduced a new USD savings life insurance solution, 'Dollar Saver' that will be offered to Sri Lankans working and living overseas.

The company said in a media release that the 2-year savings plan enables Sri Lankans residing overseas to enjoy a 6.5 percent guaranteed annual return on their savings in dollars, while also benefiting from a life insurance cover equal to the maturity benefit.

“Softlogic Life's Dollar Saver makes its mark in Sri Lanka as a first of its kind solution offered by a life insurance company within the nation. The product will be offered in full accordance with Sri Lanka’s forex regulations,” the release said. Dollar Saver was launched in a virtual setting signifying the tech-based approach that has been adopted to ensure anytime anywhere take-up of this policy. Customers can start with a minimum of US$5,000 and go up to a maximum of $100,000 with just a one-time premium payment.

“We are ready to move forward and extend our insurance services to over 2 million Sri Lankans living beyond borders while giving an opportunity to bring in more dollars to Sri Lanka,” said Ashok Pathirage, Chairman of Softlogic Holdings PLC.