HNB Assurance launches FamilyGuard for Sri Lankans working overseas

Chief Technical Officer/General Manager Dinesh Udawatta	Chief Actuarial Officer/General Manager Nalin Subasinghe

HNB Assurance PLC launched HNB Assurance FamilyGuard, a comprehensive insurance product specifically designed for Sri Lankans employed overseas. 

The product aims to support migrant Sri Lankans by enabling them to build a reliable retirement fund while ensuring their loved ones back home are financially protected.

FamilyGuard offers a well-rounded solution that blends long-term financial planning with robust life insurance protection. It provides a range of built-in benefits, including death benefit, accidental death benefit, partial and total permanent disability and waiver of premium due to either death or total permanent disability. These benefits are further complemented by flexible maturity options and a secure investment component designed to generate strong long-term returns, making FamilyGuard a practical and future-ready choice for overseas workers.

“At HNB Assurance, we are continuously evolving to cater to the diverse and changing needs of our customers,” stated HNB Assurance CEO Lasitha Wimalarathne.

“The launch of FamilyGuard reflects our efforts to supporting the aspirations of Sri Lankans working overseas, who often sacrifice so much for the well-being of their families. This product is not only about protection; it is about planning for a dignified, financially secure future.”

HNB Assurance Chief Technical Officer Dinesh Udawatta noted, “FamilyGuard has been thoughtfully crafted with features that address the real-world risks faced by overseas workers. From comprehensive life coverage and disability protection to the Waiver of Premium option that ensures policy continuity during times of hardship, we have designed a solution that is both protective and empowering. Its investment element ensures that policyholders can systematically build a secure retirement fund while they are employed abroad.” HNB Assurance Chief Actuarial Officer Nalin Subasinghe stated, “FamilyGuard has been priced to deliver great value to our policyholders. We have balanced affordability with long-term financial growth by optimising premium allocation and minimising frictional costs, allowing a greater portion of the customer’s contribution to be invested for high returns.”