Softlogic Life Wealth Plan
You will have certain financial goals as you progress from one life stage to another. The Softlogic Life Wealth Plan is designed as a unit linked life insurance plan, where by you not only can obtain a Life Cover but also you can opt in for benefits as per your long term/short term goals and requirements. With an unmatched combination of 3 fund choices plus flexibilities, this plan gives you complete control over your savings/investment.
- Offering a Life Insurance Cover whilst Maximizing/boosting your wealth.
- Choice of Funds that gives you a range of investment opportunities.
- Depending on your investment needs opt for a convenient premium paying terms and policy tenure.
- Flexibility to partially withdraw fund at any time after acquiring a surrender value.
- Ability to ‘Top-up’ your existing investment fund.
- Choice of optional benefits to enhance your protection.
- Flexibility to switch your fund after 30 days.
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Net Asset Value as at 16th of April 2024
Passive Fund
16th of April 2024
16th of April 2024
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Frequently Asked Questions
All Sri Lankans who are eager to stat saving while having an insurance cover for themselves
Age at Entry: Minimum and Maximum ages at entry are 18 and 75 years. The insurance plan end at the age of 80 years.
For Regular premium policies: Annual Premium – Rs. 60,000
For Single premium policies: Rs. 500,000
Based on your goal and requirement funds will be invest in 3 unmatched fund choices; Passive fund, Hybrid fund or Active fund. You can opt-only one fund at a time.
| Passive Fund | Hybrid Fund | Active Fund |
|---|---|---|
| Provides the Life Assured an attractive return while assuming a lower risk. | Provide Life Assured a high return while assuming a moderate risk. | Provide Life Assured a higher return to compensate the higher risk they assume. |
| All investments will be invested in Fixed Income Securities. | The Fund will have the option to maintain 0 – 50% in Listed Equities and 50-100% in Fixed Income Securities. | The Fund will have the option to maintain 20%-80% in both Fixed Income Securities and Listed Equities. |
| Fund will be managed based on interest rate trends using dynamic asset allocation strategies to maximize the return to the investor | In order to maximize the return, Funds will be realigned between Fixed Income Securities and Listed Equities (depends on market dynamics). | The Fund will give more exposure to equity investments. However, based on equity market dynamics and interest rate movements the exposure will be realigned to maximize returns. |
Policy Fee
Premium Allocation Charges
Risk Charges
Fund Management Charges
Switching Charges (if opted)
Payments should be made to Softlogic Life PLC Branches via depositing cash, cheques or Bank transfers
Check your fund balance & performance via https://www.lifeup.lk/#/
Yes, you can have several individual plans based on your requirement and investment horizon. You can opt-only one fund for each plan at a time
Depending on the market conditions/performance, you can switch from current fund to another fund (100% fund switch) after 30 days from the commencement of the policy. 2 free switches allowed within a policy year and for subsequent switches, a fee will be applicable
Due to an emergency, Life Assured can request for partial withdrawals after acquiring a surrender value. This is subject to a maximum of 25% of the surrender value . This is allowed only 1 time during a policy year (subject to 2 times within the policy term)
After completing three policy years and one year prior to the last premium payment date you can increase your fund via top-up premiums. Minimum Top-up premium shall be Rs.25,000/-.
In order to get the maximum benefit under this policy you have to continue the policy for the full policy term.
IF IT IS A SINGLE PREMIUM POLICY;
If you want to discontinue before the term ends, you can do so only after completion of 1 year (from policy commencement). You can get the money in your unit A/C which will be subject to a surrender charge.
IF IT IS A 3-pay-5;
If you want to discontinue before the term ends, you can do so only after completion of 2 years (from policy commencement). You can get the money in your unit A/C which will be subject to a surrender charge.
IF IT IS A 5-pay-10/ 10+ pay/ 15+ pay;
If you want to discontinue before the term ends, you can do so only after completion of 3 years (from policy commencement). You can get the money in your unit A/C which will be subject to a surrender charge.
The Company shall pay the Value of the Unit Fund based on the Unit Price of the day following the Date of Maturity (on a market working day)
Regular premium option:
| If death occurs during premium paying term your family would receive; | Basic Sum Assured along with the value of the accumulated Unit Fund at the day following the date of death intimation (on a market working day) received by the Company. |
|---|---|
| If death occurs after the completion of premium paying term your family would receive; | value of the accumulated Unit Fund at the day following the date of death intimation (on a market working day) received by the Company. |
Single premium option:
| If death occurs during policy term your family would receive; | Basic sum assured and the value of the accumulated unit fund. |
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