Below are the leading insurers in Sri Lanka that offer corporate / group life (employee benefits) plans, with the typical group products and key features they advertise. I’ve included a short note on how to compare offers and next steps.
Top providers and their group-life offerings
- Sri Lanka Insurance (SLIC Life)
- Offering: large-capacity group life and employee benefits solutions (life, accidental death, disability, critical illness, group savings and pensions) through Sri Lanka Insurance Life Ltd. — one of the largest life insurers in the market. SLIC highlights strong balance sheet and large life fund, which can matter for claim-paying ability. (sliclife.com)
- HNB Assurance
- Offering: “Prime Group Life” and a family of employee-benefit plans covering life, accidental death, total & permanent disability, critical illness, hospital cash and other optional benefits. HNB positions modular plans so employers can select levels of cover. (hnbassurance.com)
- Softlogic Life Insurance
- Offering: group life and employee benefits (group-term life, group savings/pension-linked solutions and related add-ons). Softlogic Life is a major private life insurer with nationwide distribution and employer plan capabilities. (en.wikipedia.org)
- Janashakthi Life / Janashakthi Insurance
- Offering: group life / employee benefits solutions (group life, group retirement/superannuation options, critical illness/additional covers). Janashakthi is a long-established life insurer in Sri Lanka frequently used by corporates. (en.wikipedia.org)
- Amana Takaful (Takaful group-life solutions)
- Offering: Shariah-compliant group life / employee benefit structures (takaful-based life and family protection plans for corporate groups). Useful if your company or employees prefer Islamic-compliant solutions. (en.wikipedia.org)
(Other notable insurers — many corporates also use companies such as Ceylinco Life, Union Assurance, AIA, and others — most major life insurers in Sri Lanka provide bespoke group/employee-benefit solutions. If you want specific names I can fetch the most recent corporate-group product pages for each.)
Common group plan features to expect
- Basic group term life (sum assured multiple of salary or fixed benefit)
- Accidental death & dismemberment (AD&D)
- Total & permanent disability (TPD) benefit
- Critical illness lump-sum (often optional)
- Hospital cash / daily hospital allowance (optional)
- Funeral benefit / repatriation (optional)
- Portability / conversion options on exit
- Flexible premium structures (employer-paid, employee-contributed, hybrid)
- Coverage eligibility rules (waiting periods, probation, minimum service) and exclusions
How to compare plans (practical checklist)
- Financial strength / claim-paying record of insurer (assets, life fund, ratings). Larger funds and strong ratings reduce counterparty risk. (sliclife.com)
- Benefits and optional add-ons (does the plan include TPD, CI, hospital cash you need?)
- Pricing / premium stability and how premiums are reviewed (age banding, claims experience loading)
- Flexibility (easy enrollment/termination, ability to add new employees, salary band definitions)
- Speed and fairness of claims handling (provider references, turnaround times)
- Local presence / servicing (dedicated relationship manager, HR support, digital tools)
- Tax and regulatory compliance (IRCSL rules in Sri Lanka — insurers follow local regulatory framework)
Suggested next steps (fast practical path)
- Prepare an employer brief: number of employees by age band, average salary, desired sum assured formula and optional benefits (CI, TPD, hospital cash).
- Ask 3–4 insurers for formal group quotes/proposals and an employer benefits illustration (SLIC, HNB Assurance, Softlogic, Janashakthi and/or any insurer you prefer).
- Request sample policy wording and claims SLA, plus references from similar-sized clients.
- Compare total cost, benefit scope, claim process and insurer financial strength — pick the best overall package, not just lowest price.
If you want, I can:
- Pull the latest group-life product pages and downloadable brochures from each insurer (SLIC, HNB Assurance, Softlogic, Janashakthi, Amana) and summarize side-by-side; or
- Prepare a request-for-proposal (RFP) template you can send to insurers to collect comparable quotes.
Which follow-up would you prefer?