Sri Lanka Unveils Free Life Insurance for Cooperative Shoppers Spending Over Rs. 10,000
By Lions Roar Aotearoa News Economic Desk
ANURADHAPURA, SRI LANKA — Sunday, February 8, 2026 — In a groundbreaking move to revitalize the national cooperative movement, the Government of Sri Lanka has announced a new free life insurance scheme for loyal cooperative customers.
Speaking at an event in Anuradhapura today, Sri Lanka’s Trade Minister Vasantha Samarasinghe revealed that shoppers who spend more than Rs. 10,000 per month at cooperative outlets will be eligible for a life insurance policy valued at over Rs. 300,000.
1. A Reward for Loyalty at Sri Lanka’s “Co-op Cities”
The initiative is designed to incentivize citizens to return to the cooperative retail system, historically a cornerstone of the island’s local economy.
- The Threshold: Customers must spend a minimum of Rs. 10,000 within a single month at any cooperative store to qualify.
- The Benefit: The resulting life insurance cover is provided entirely free of charge to the consumer, offering a safety net of three lakhs in coverage.
- Comprehensive Coverage: Minister Samarasinghe confirmed that this benefit will eventually extend to all registered cooperative members, not just active shoppers.
2. Welfare Boost for Sri Lanka’s Cooperative Employees
The Minister also addressed the long-standing grievances of those working within the sector.
- Better Wages & Insurance: Cooperative employees are set to receive “satisfactory” salary increments and their own dedicated life insurance policies.
- Economic Integration: The goal is to make the cooperative workforce a central part of the national economy by improving job satisfaction and security.
3. Massive Infrastructure Reforms: The “Co-op City” Expansion
The insurance scheme is part of a broader “Compass” (Malimawa) reform program aimed at modernized retail competition.
- Regional Hubs: The government plans to facilitate the opening of a “Co-op City” outlet in every local administrative division.
- Urban Development: To compete with private supermarkets, large-scale Co-op Cities will be established in urban areas, supported by low-interest loans provided by the state.
“We are transforming the cooperative business through a massive reform program. We want every region to have a Co-op City and every worker to feel valued.” — Vasantha Samarasinghe, Trade Minister.
