Life insurance is an integral part of a person’s financial planning, especially since it has longstanding and far-reaching benefits. At a time when people are focusing on various areas for investment, it is important to remember that the best investment is in one’s health and well-being, and everything else revolves around it. This is why having Life insurance as part of one’s investment portfolio is vital.
Life insurance acts as a protective shield. Given that life is full of vicissitudes, it is only prudent that we make it a top priority in our lives, for ourselves and our loved ones. It is an investment that yields the best returns – on health, security, stability, and overall protection.
In the present context, given the unprecedented economic conditions, the relevance and importance of Life insurance cannot be overstated. Our sense of security is being challenged by the unfolding events. The soaring inflation will affect everyone, causing widespread economic hardship across the country.
In such challenging times, it’s important that people prioritize their health and well-being than ever before. They should prepare by taking all possible measures to protect their loved ones, which is where Life insurance becomes pivotal. It is an investment unlike any other, unique in its ability to ensure that the vicissitudes of life don’t derail their future.
However, when people have less disposable income due to rising inflation, they may be hesitant to buy insurance or pay premiums for the existing policies. They may not prioritise it until their finances improve as it is not considered a necessity. Nevertheless, this is imprudent in the current context. Given the economic situation in the country, it pays to focus on the things that are truly essential. Life insurance ensures that policyholders and their families are protected throughout the tough times.
As disposable incomes decline, it is critical to be protected against unforeseen expenses like medical emergencies, because if such a situation arose, one would have to borrow or use his/her savings. Furthermore, the cost of medical treatment has soared in recent times. However, a life insurance policy provides peace of mind by assuring that such expenses will be covered.
It is imprudent to use one’s savings in emergency situations. This is because interest rates are presently high and offer financial security to face challenges. However, having a Life insurance policy means one’s savings will be unaffected.
Union Assurance – Sri Lanka’s trailblazing Life insurer – offers a range of innovative Life insurance solutions. These are designed to protect policyholders and their loved ones, thereby empowering the Sri Lankan dream. The solutions cover their health, education, protection, investment, and retirement needs.
Union Assurance has earned a reputation for service excellence and customer-centricity, with 93% of Health claims settled in one day in 2021. As a forward-thinking insurer, the Company has taken accessibility and convenience to new heights through digital innovation. Among other digital initiatives, the Company introduced the Clicklife App – industry’s most comprehensive lifestyle app. It allows customers to easily manage their insurance and lifestyle via mobile phones, anytime and anywhere. In these challenging times, when physical interactions are constrained due to limitations in transportation and other factors, it has proved immensely practical and useful.
A facet of the Clicklife App is the ‘Calorie Counter’ feature that was introduced to help our customers in living a healthy lifestyle. This is a state-of-the-art feature that includes a dashboard for tracking physical activity as well as a calorie log for tracking daily food intake.
With this feature, Union Assurance becomes the first in the industry to introduce an innovative fitness solution that combines calorie counting and physical activity tracking to reward healthy living.
