Ceylinco Life presents 156 new ‘Pranama’ Scholarships worth over Rs. 8 m

Thursday, 20 February 2014 00:02 - - {{hitsCtrl.values.hits}}

Life Insurance Leader Ceylinco Life recently presented another 156 ‘Pranama’ scholarships worth over Rs. 8 million to young achievers in Sri Lanka at a ceremony held at the BMICH. With these scholarships, awarded at the 13th annual ‘Pranama’ scholarships awards ceremony, Ceylinco Life has presented 1770 scholarships worth more than Rs. 91 million since the inception of the program in 2002. Addressing the ceremony, Ceylinco Life Managing Director and CEO R. Renganathan said that the company is aware of the fact that the prime objective of any parent is to invest in the education of children and that increasing incomes do not keep pace with the increases in the costs of education.

“We at Ceylinco Life have recognised this and decided that we should make a contribution towards the education of the children of our valued policyholders. We are proud to say that many Pranama scholarship winners are today professionals and are making valuable contributions towards the economy of our country,” he added. The guest of honour at this event was Prof D.D. Kulathunga, the outgoing Dean of the faculty of Science of the University of Kelaniya. He was accompanied by Prof. N.A.K.P.J. Senaviratne, the incoming Dean of the Faculty. Doctor Madhavi Wijeyapala, a two-time Pranama scholarship award winner, delivered a speech on how this scheme had helped her to overcome financial difficulties during her studies.

CeylincoLife Pranama scholarships are presented to policyholders’ children who achieve the best results in their respective districts at the Year 5 scholarship examination, the GCE Ordinary Level, the GCE Advanced Level or 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 district level at the GCE Advanced Level examinations. Students who excel at the Year 5 scholarship examination receive Rs. 90,000, payable in instalments over five years under the Pranama scheme. Students who excel at the G.C.E. (O/L) receive Rs. 72,000, payable monthly over two years, while students placed 1st in their districts at the G.C.E. Advanced Level examinations receive scholarships worth Rs. 126,000 each, payable over a three year period. Students placed 2nd, 3rd and 4th in their districts at this examination are awarded Rs. 10,000 each. Ten national merit awards of Rs. 35,000 each are presented to recipients in the final category. One of many benefits available to Ceylinco Life policyholders, the Pranama scholarship scheme underscores the importance accorded by the company to education, which is one the key areas of intervention in the Ceylinco Life Rewards program.