Ceylinco Life doubles value of ‘Pranama’ scholarships

Life insurance market leader Ceylinco Life has announced it is voluntarily doubling the value of the company’s ‘Pranama’ scholarships for top performers at school examinations, in recognition of the escalating costs of education and the impacts of the economic crisis on the cost of living.

This empathetic and generous gesture will benefit students who will receive their scholarships at the next Pranama scholarships presentation scheduled for 16 September, the company said.

Accordingly, 25 students who excelled at the 2022 Year 5 scholarship examination who were due to Rs. 120,000 each payable in instalments over five years, will now receive Rs. 240,000 each instead. Similarly, 25 students who excelled at the 2021 G.C.E. Ordinary Level Examinations will now each receive Rs. 168,000 payable monthly over two years, instead of the Rs. 84,000 they were promised.

Another 25 students placed 1st in their districts at the 2021 G.C.E. Advanced Level examinations will receive scholarships worth Rs. 288,000 each payable over three years, as opposed to Rs. 144,000, while the one-time payment of Rs. 30,000 each that was to be presented to 75 students placed 2nd, 3rd, and 4th in their districts at this same public exam, will be increased to Rs. 60,000 each.

Ceylinco Life has also announced that the Merit Award of Rs. 35,000 each presented to 10 students who have excelled on a national or international scale in sports, art, drama, invention or the creative fields in 2021 and 2022, will be increased to Rs. 50,000 each.

As a result of these increases, the total value of Pranama scholarships to be presented by Ceylinco Life this year will grow from Rs. 11 million to Rs. 22.4 million. To date, a total of more than Rs. 177 million has been disbursed to 3,034 students under this scheme. With the latest edition of ‘Pranama’ scholarships, Ceylinco Life will take this total to Rs. 200 million.