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 17thround of the life insurance leader’s ‘Pranama’ Scholarships programme.
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 30th November 2017, Applications are available at more than 250 Ceylinco Life branches island-wide.
Ceylinco Life’s Pranama scholarships programme 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 policyholder’s 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 programme began, and many past recipients are now excelling as doctors, engineers, lawyers and in academia,” Ceylinco Life Managing Director/CEO Mr 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 programme.
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.