Ceylinco Life launches 2019 ‘Pranama’ scholarships program

• 160 students to receive Rs. 11 m at 18th annual presentation

More than Rs. 11 million in new scholarships is to be awarded to 160 young Sri Lankans in February 2019 under the 18th edition of the Ceylinco Life ‘Pranama’ scholarships program. 

The presentation of these scholarships will see the country’s life insurance leader’s commitment to reward academic and extracurricular excellence since the inception of the Pranama scheme. 

The Company has announced that its branches island-wide have begun accepting applications from those eligible to be rewarded under the four-tiered scholarship scheme, which benefits children of Ceylinco Life policyholders.

Applications for these scholarships close on 30 November, the Company said.

Ceylinco Life has, to date, presented Pranama scholarships to the value of Rs. 131 million to 2,408 young Sri Lankans.

Commenting on the program, Ceylinco Life Managing Director R. Renganathan said: “Over the years, the Pranama scholarships have had a significant positive impact on the lives of the recipients. We follow their progress as they continue their education and begin their careers, and many have acknowledged the motivational value of the scheme. The prestige and recognition of the award is as important as the financial support that the Pranama scholarships scheme offers. Being chosen from a large number of applicants encourages young people to push boundaries and reach their full potential.”

Ceylinco Life Pranama scholarships are presented to policyholders’ children who have achieved the best results in their respective districts at the Year 5 scholarship examination, the GCE Ordinary Level, and the GCE Advanced Level, as well as to those who excel at the national level in sports, culture, arts, drama or invention. The Company also pays special cash awards to policyholders’ children who are placed second, third and fourth at the district level at GCE Advanced Level examinations. 

The newest edition of Pranama scholarships will reward 25 students who excelled at the 2018 Year 5 scholarship examination with Rs. 120,000, payable in instalments over five years. Another 25 students who excelled at the 2017 GCE Ordinary Level will receive Rs. 84,000, payable monthly over two years, while 25 students who placed first in their districts at the 2017 GCE Advanced Level examinations will receive scholarships worth Rs. 144,000 each, payable over a three-year period. 

Furthermore, one-time payments of Rs. 30,000 will be presented to 75 students who placed second, third, and fourth in their districts at the 2017 GCE Advanced Level examinations. 

Ten students who have excelled in the sports, drama, invention or creative fields in 2017 and 2018, too, will be presented merit awards each to the value of Rs. 35,000.

The market leader in Sri Lanka’s life insurance sector since 2004, Ceylinco Life has close to a million lives covered by active policies. The Company is acknowledged as the benchmark for innovation in the local insurance industry for its work in product research and development, customer service, professional development and corporate social responsibility.