160 students to receive Rs 11 million 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 programme.
The presentation of these scholarships will see the country’s life insurance leader’s commitment to reward academic and extra-curricular excellence since the inception of the Pranama scheme, growing to Rs 142 million.
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 Friday, 30th November 2018, 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 programme, Ceylinco Life Managing Director Mr 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 policyholder’s children 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 to those who excel at the national level in sports, culture, arts, drama or invention. 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.
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 installments over five years. Another 25 students who excelled at the 2017 G.C.E. (O/L) will receive Rs 84,000, payable monthly over two years, while 25 students placed 1st in their districts at the 2017 G.C.E. 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 placed 2nd, 3rd, and 4th in their districts at the 2017 GCE Advanced Level examination.
Ten students who have excelled in 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.