Sri Lanka Insurance Suba Pathum provides 300 annual schols worth Rs. 18 m to top students

The SLI Life Suba Pathum National Scholarship Scheme has benefited over 300 students each year from the time it was launched by Sri Lanka Insurance (SLIC) in 2013. The programme took place in 2014 and 2015 and will be held this year as well. Applications have already been called for the selection of beneficiaries for this year, which again would number over 300. The recipients would be rewarded at a ceremony scheduled to be held shortly.

The total value of the scholarships presented by SLIC annually is over Rs. 18 million with the beneficiaries being top achievers of the Year 5 Scholarship, Ordinary Level and Advanced Level examinations. This is one of the most beneficial of such schemes in the industry, a spokesman for SLIC said. 

To be eligible for the scholarship, parents/guardians of the applicants need not be SLIC policy holders, however the benefits would be available for an extended period if they hold Life policies with the organisation. This sums up to five times the total value of the scholarship in the case of Year 5 scholarship holders, twice for GCE O/L and thrice for A/L students. Non-policy holders’ children will receive the benefits for an year.

From among the applicants, the top four achievers from each district at the Year 5 Scholarship exam will be selected as recipients of the scholarship and would receive a sum of Rs. 20,000 for a year. The top four from each district at the O/Level exam, who have applied for the scholarship, will receive Rs. 40,000. With regard to A/Level applicants, scholarship winners will be selected based on national rankings from the Arts, Science, Mathematics and Commerce streams. 

Children of SLI Life policy holders will receive the benefits for five, two and three years respectively as opposed to non-policy holders’ children who will benefit for one year. To receive the long-term benefits, the Life policy should have been obtained at least a week before the release of the exam results by the Examinations Department and maintained continuously without lapsing. All Life policies except for Mortgage Protection and Group Life policies are eligible for the scheme, the spokesman said. 

The scholarship has been introduced to applaud the achievements of the children of the country and to encourage others also to perform well and reach their best potential.