Here are some of the best and most widely recommended life-insurance companies operating in Sri Lanka (based on market position, recent awards, growth and financial strength). I’ve included a short note on why each is commonly recommended and sources you can check.

Top life insurers in Sri Lanka

• Ceylinco Life — long-time market leader, largest gross written premium and very large life fund; frequent “best insurer” and brand awards. (ceylincolife.com)
• Union Assurance — recognized for digital innovation, transparency and multiple “best life insurer / digital insurer” awards. (unionassurance.com)
• AIA Sri Lanka — part of the AIA Group, strong capital/solvency profile and repeatedly awarded “Best Life Insurer” by international industry publications. (aialife.com.lk)
• HNB Assurance (HNBA) — rapid premium growth, international recognitions and a strong credit/Fitch profile among Sri Lankan life insurers. (ceylontoday.lk)
• Janashakthi Life — one of the fastest‑growing life insurers in recent years with strong profitability and digital product launches. (ceylontoday.lk)
• Softlogic Life and Sri Lanka Insurance PLC (SLIC) — large players with wide distribution and long operating records; often recommended for scale and branch/network reach. (en.wikipedia.org)

How to choose the right company and policy

• Check financial strength and solvency (risk-based capital / CAR and credit ratings). Prefer insurers with strong solvency and audited financials. (ceylincolife.com)
• Look at claims-paying history and customer service (speed of claim settlement, complaint records).
• Match product to need: term life for protection, endowment/unit-linked for savings/investment, whole life/retirement plans for long-term goals.
• Compare premiums for the same cover, riders/benefits, exclusions and policy terms (suicide clause, waiting periods, premiums guaranteed or reviewable).
• Distribution channel matters: bancassurance, direct online, or agent—pick the one you trust and that gives clear disclosures.
• Ask for the Product Brochure, Policy Wordings and Illustration showing projected returns (for savings/unit-linked) before you buy.

Regulator and licence checks

• Confirm the company is licensed by the Insurance Regulatory Commission of Sri Lanka (IRCSL) and view its public notices or complaints guidance on ircsl.gov.lk or IRCSL listings. This helps avoid unlicensed sellers. (insuranceombudsman.lk)

Practical next steps

1. Decide the type and amount of cover you need (term vs savings vs unit-linked).
2. Get quotes from 2–4 of the companies above for identical cover and compare total cost, exclusions and benefit timelines.
3. Review sample policy wordings and request a written illustration for projected returns (if applicable).
4. Check recent customer reviews, regulator notices and company financials (annual report).

If you want, I can:

• pull and compare two or three sample policy quotes (e.g., a 20‑year term policy for a specified sum) from select insurers, or
• summarize the latest solvency / CAR or recent annual results for any specific company on the list. Which option would help you most?