RELIEF MEASURES FOR AIA INSURANCE POLICYHOLDERS AFFECTED BY COVID-19

In compliance with the directions issued by the Insurance Regulatory Commission of Sri Lanka (IRCSL) to grant relief measures for policyholders who are adversely affected by the current COVID – 19 outbreak, an extension period is granted for life insurance policyholders to pay premiums falling due from 01st March to 30th June 2020.

For administrative facilitation, AIA Insurance Lanka provides the following guidelines to be followed by the Company’s life insurance customers to obtain relief measures due to adverse impact suffered consequent to being affected by COVID -19.(COVID-19 Relief Scheme).

How to inform:

AIA Insurance customers can submit a written communication to the Company and e-mail same to the e-mail address covidsupportlk@aia.com. For ease of adminstration, the written communication is to contain the following information. For further clarification please contact our Call Centre on 011 2 310 310. 

• Full name of the customer
• National identity card (NIC) number
• Contact details (E-mail address, mobile number, home address)
• Insurance policy number (For multiple policyholders, a separate communication must be submitted for each policy)
  
• Due date/s of the insurance premium/s for which COVID – 19 Relief Scheme is applicable. 
  
• Customer category [category 1. Customers with an insurance policy that commenced prior to 28th February 2017/ category 2. Customers with an insurance policy that commenced after 28th February 2017 and prior to 28th February 2019. category 3. Customer with an insurance policy that commenced after 28th February 2019. 
  
• Details of circumstances (For our ease of reference and verification, describe briefly, how COVID-19 resulted in an adverse effect, compelling you to make this request for relief. Please submit proof where available) 
• What is the extension you are requesting for? (1 month, 2 months, 3 months)
  
• What is your proposed re-payment plan? (Will pay the due premium in full by the 4th month/ Will pay 50% of the due premium in full by the 4^th month after the expiry of the COVID-19 Relief Scheme applicable to me and the remaining 50% by the 5th month.

Note: AIA Insurance customers are granted a maximum period of 02 months from the expiry of the respective COVID-19 Relief Scheme to settle their due premium in full, while continuing to pay regular premuims. Kindly adhere to this timeline so that your valuable insurance policy will not lapse at the end of the said 02 months. 

WHEN TO INFORM:

For ease of processing written communication should reach AIA Insurance by or before 15^th May 2020, and in any event before the due date of the premium falling due during the COVID-19 Relief Scheme period. 

WHAT HAPPENS AFTER THE WRITTEN COMMUNICATION IS SUBMITTED:

AIA Insurance will seek further information/clarifications where required.  We will respond to you within 05 working days of receiving your completed written communication. 

CONDITIONS APPLICABLE WITHIN THE COVID-19 RELIEF SCHEME: 

• Any claims or benefit payments due to you, during the period in which the COVID-19 Relief Scheme is applicable to you, such claim or benefit payment will be made after deducting the premiums due to date.
• Any maturity value that will get affected during the period in which the COVID-19 Relief Scheme is applicable, can get regularized upon re-payment of the full premiums due after the said period, except in instances beyond the Company’s control such as timing of any premium investments negatively impacting the investment return.
  
• Non-payment of premiums as per the agreed Relief Scheme re-payment plan(in addition to your regular premiums) will result in lapsing of your valuable insurance policy.      

AIA Insurance Lanka Limited.