Cabinet approval has been granted to award the contract of implementing the Suraksha Student Insurance Coverage programme to Sri Lanka Insurance Corporation General Limited for three (03) years.
According to the government, approval was granted at a Cabinet meeting held in May 2024 to recommence the Suraksha Student Insurance Coverage programme and call quotations from Sri Lanka Insurance Corporation in par with that.
Having evaluated the bidding proposal presented by the Sri Lanka Insurance Corporation by the negotiation committee appointed by the Cabinet of Ministers, it was recommended to execute the Suraksha Student Insurance Coverage for the years 2024/2025, 2025/2026 and 2026/2027 for an amount of Rs. 6.027 billion (excluding VAT).
Accordingly, the Cabinet approved the joint proposal by the President, in his capacity as the Minister of Finance, and the Minister of Education to award the contract of Suraksha Student Insurance Coverage to Sri Lanka Insurance Corporation General Limited for the said three (03) years.
It has also been proposed to award the death benefit of parents under life insurance which is entitled to the students of families whose annual income is less than Rs. 180,000 to students of families covered under the ‘Aswasuma’ programme. (Newswire)