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Policy package secures migrant workers

MBSL Insurance, a subsidiary of the Merchant Bank of Sri Lanka introduced a comprehensive insurance policy package that offers a wide range of benefits for the Sri Lankan migrant workforce.


Dr Ranjith Bandara

The signing of the Memorandum of Understanding (MoU) between the Association of Foreign Employment Agencies of Sri Lanka (ALFEA) and the MBSL Insurance in this regard took place at the Intercontinental Hotel yesterday. Addressing the ceremony MBSL Director and Sri Lanka Foundation (SLF)Chairman Dr Ranjith Bandara said this revolutionary insurance scheme will secure the Sri Lankan worker overseas and assure them that there is always something to fall back on, in a time of uncertainty and need.

“The importance of an insurance scheme for the migrant worker was a long term discussion subjected to debate by all insurance companies. But it was halted due to possible issues and difficulties that may come up during the employment period of Sri Lankan citizens. But MBSL came forward to protect the Sri Lankan migrant worker with this insurance policy without considering the profit,” he said.

He said MBSL did not directly target profits through this scheme. This is not a profit making venture but will be a real protection for the workers who migrate for employment through ALFEA agencies. “Migrant workers should be encouraged as they contribute immensely to the country’s economy,” he said.

ALFEA President W.M.P. Aponsu said this unique product will initially be aimed at migrant workers and the benefits will be given only to the workers who obtain their foreign jobs through ALFEA agencies. There are around 600 ALFEA agencies in the country, he added. The important fact of this insurance policy is that no worker will have to pay the premium for the insurance and the respective agent will have to contribute the amount needed for the insurance.

Through this insurance scheme death due to any cause, permanent and partial disability due to accidents, medical expenses during the first three months and repatriation due to medical unfitness and permanent disability will be covered, he said.

Refusal to work due to valid reasons and running away by the workers within three months of employment will also be covered. Nearly Rs. 200,000 will be given to the policyholder and those who are employed in any country will be eligible. The age limit will be from 18 to 55 for the migrant workers to be eligible for insurance, he said.

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