Will present more than Rs. 11 million in rewards in early 2018 to high achieving students
The search for the next batch of 160 bright young Sri Lankans to be rewarded with scholarships by Ceylinco Life has commenced with the launch of the 17th round of the life insurance leader’s ‘Pranama’ Scholarships program. To be presented in early 2018, these scholarships to four recipient categories will amount to more than Rs. 11 million in cumulative value, the company said.
The collection of applications from eligible students is now on and will close on 30 November. Applications are available at more than 250 Ceylinco Life branches island-wide. Ceylinco Life’s Pranama scholarships program rewards academic as well as extra-curricular achievements of children of policyholders with cash prizes for those who achieve 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 for children who excel at the national level in sports, drama, invention or creativity. 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. Effective this year, Ceylinco Life has announced it is doubling the value of the cash reward to this category.
Scholarship recipients in the Year 5 category receive 25 scholarships worth Rs. 120,000 each over five years. High achievers at the GCE (Ordinary Level) examination receive Rs. 84,000 each over two years, while students who excel at the GCE (Advanced Level) receive Rs. 144,000 each over three years. Students placed 2nd, 3rd, and 4th in their districts at the GCE Advanced Level examination will receive a one-time cash payment of Rs. 30,000 each. The national merit awards presented by the company are each worth Rs. 35,000. “More than 2,200 high achievers have been conferred Pranama scholarships since the program began, and many past recipients are now excelling as doctors, engineers, lawyers and in academia,” Ceylinco Life Managing Director/CEO R. Renganathan said. “They have told us that being recognised in this manner was life-changing and extremely motivational, and we are convinced that the Rs. 120 million already invested in the future leaders of our country is paying dividends to the individual beneficiaries as well as the community.”
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 of the key areas of intervention in the Ceylinco Life Rewards program.
Adjudged Sri Lanka’s Best Life Insurer in 2016 for the third consecutive year by World Finance, Ceylinco Life commenced operations in January 1988 and 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.