Sri Lanka Insurance launches the Formula Plus-Vehicle Owners Club

The Formula Plus-Vehicle Owners Club, another first from Sri Lanka Insurance is an initiative that was launched to further enhance the services provided to all SLI motor policyholders and came into effect on October 5.

The club has three categories of membership - Platinum, Gold and Silver, with its own distinctive card.

Owners of motor cars and dual-purpose vehicles who are policyholders of SLI will be eligible to join the club on application after a selection committee determines whether they have met the above mentioned 'selection criteria'.

According to Consultant (Motor) at SLI, Suren Galagoda application forms have already been sent to owners of motorcar and dual-purpose vehicles who are eligible under the selection criteria. Governed by the 'Formula Plus vehicle owners club constitution', membership of the club is renewable each year and upon renewal of their insurance policy the club membership too is automatically renewed.

The membership of the club is not transferable and if the vehicle owner intends selling his motorcar or dual-purpose vehicle the membership card should be handed over to the motor department at SLI Head Office or the nearest SLI branch. The card will be reissued if the policyholder purchases another motor car or dual-purpose vehicle and insures it with SLI. Members can obtain the benefits the club offers by producing their membership card.

Current Formula Plus motor policyholders who are 'Privilege Card' holders will automatically be upgraded to the status of a Gold card member with immediate effect.

As 'Value Added Services' Platinum Card holders will be entitled to 24-hour islandwide on site assessment and repair approval, full payment of the claim within three days, 24-hour roadside assistance service, 24 hr call centre support, 24 hr counter for any insurance need (Colombo and Kandy), a no claim bonus (NCB) earning up to 70% and policy renewals at any of the 80 SLI branches islandwide.

Benefits received by Gold Card holders and Silver Card holders are same as a Platinum Card Holder, except for a lower Personal Accident cover free.

Sri Lanka Insurance hopes to further enhance the benefits offered by the club thus building a closer relationship with its policyholders in the future.