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Life Insurance Cover offered by SampathCards in partnership with Sri Lanka Insurance Corporation(SLIC) is a significant value addition available for Sampath Classic, Gold and Platinum Credit Cardholders at a nominal premium, which covers the Credit Card outstanding and offer the balance remaining (if any) from the sum assured, to the beneficiaries at the demise of the cardholder. 

Life Insurance Scheme

Card Category Maximum Age Sum Assured Annual Premium
Platinum* 60 Years Rs.1,500,000 Rs.1,400
Gold 65 Years  Rs.500,000 Rs.500
Classic 65 Years Rs.250,000 Rs.200


How to apply

If you wish to enroll for the applicable insurance scheme according to your credit card category, please submit the attached " Registration form” duly completed and sent to;

Sampath Bank PLC.
Manager – Card Centre
110, Sir James Peiris Mawatha
Colombo 02

  Application Form      

*Platinum Credit Cardholder are required to submit the “Declaration of Good Health Form” along with your Registration form and depending on your declaration, Sri Lanka Insurance Corporation will review and request medical reports if necessary and select eligible members for the scheme.  

   Declaration of Good Health     

For more information, please call 011 2 30 30 50.


Terms and Conditions

  1. This is a Group Life Insurance scheme provided by the Sri Lanka Insurance Corporation Ltd (herein after referred to as the “Insurer”) to Sampath Bank Ltd (herein after referred to as the Bank).
  2. A Life Insurance cover of Rs.1,500,000/- is available for Visa Platinum Credit Cardholders, cover of Rs.500,000/- is available for Gold Credit Cardholders and cover of Rs.250,000/- is available for the other Credit Cardholders.
  3. The sum assured becomes payable only in the event of death of the life assured during the policy period.
  4. The insurance cover on an individual life becomes cancelled if one or more of the following events occur,

a. Expiry of the Credit Card
b. Cancellation of the Credit Card by either party
c. Termination of the man policy between the Insurer and the Bank
d. Cardholder attaining the age of 64 years

  1. Premium in respect of the Life Insurance is payable annually, by the Credit Cardholder.
  2. During the first year the insurer has agreed to provide the Insurance cover at an annual premium of Rs.1,400/- to Platinum Credit Cardholders, Rs.500/- to Gold Credit Cardholder and at an annual premium of Rs.200/- to other Credit Cardholders.
  3. The payment date of the Insurance premium is linked to the renewal date of the Card. The initial premium shall be debited to the Credit card account according to a pro – rata basis and thereafter the annual premium is debited at renewal of the Card.
  4. Premium in respect of a life to be assured has to be paid annually in advance of the relevant entry date.
  5. Only those who are above 18 years of age and below 64 years of age are eligible to be insured under this scheme.
  6. Cardholders who wish to enroll to this Life Insurance cover on who are above 60 years of age shall submit a “Declaration of Good Health” Depending on the Declaration of Good Health, medical reports will be obtained & thereafter Sri Lanka Insurance Corporation will decide the eligibility to enroll the member to the scheme subject to the receipts of premium.
  7. The Insurance cover under a particular credit card shall terminate on expiry of the card or on cancellations of the card as per the Terms and Conditions under which the Credit Card has been issued.
  8. The insurer reserves the right to vary from time to time the rates, premium, terms and provisions of the Policy including the General Conditions by giving three months advance notice in writing of its intensions to do so to the Bank and such variations shall apply to all assurances thereafter.
  9. Under this policy the Sum Assured shall not be paid if:

    a. The life assured commits suicide, or
    b. Death of the life assured occurs as a result of war, whether war be declared or not, act of foreign enemy, hostilities, civil war, revolution, military or usurped power, or
    c. Death of the life assured occurs as a result of participation in rebellion, insurrection, mutiny, strike, not or civil commotion, or engaging in any form of terrorism or any act  of sabotage.

  10. Any payment whatsoever shall not be payable under this policy in the event of death of Life Assured whilst being engaged in anti-terrorist operations directly or indirectly. This exclusion is applicable for Military, Naval, Air force and Police services.
  11. The cardholder should be in Good Health, not suffering from any Terminal illness or Permanent disability at the time of entering the Insurance scheme.
  12. Since this is a Group Policy, individual policy certificates would not be issued and there would not be surrender value.


In the event of Claim

  1. Any claim under this policy should be intimated to Bank within 3 months of the date of death. The insurer and/ or Bank will have to liability for any claims reported after the 3 months period.
  2. When making such a claim the – Claimant should provide documentary evidence such as,

    a. The originals of the death certificate and birth certificate of the decreased
    b. Any proof of Identity of the Claimant, and
    c. Any other documents the may be required

  3. All claims settlements under this scheme are paid subject to the Rules and Conditions of Group Team Life Assurance Policy GTLA/0138 issued by the Insurer.
  • If the Cardholder had furnished incorrect or untrue details, the Insurer reserves the right to cancel the benefits under this policy and in such case any payments shall be determined at the discretion of the Insurer.