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Life insurance leader Ceylinco Life has begun the search for another 160 bright young Sri Lankans who will receive Rs. 8.3 million in scholarships at the 14th edition of the ‘Pranama’ scholarships presentation in February next year.
The presentation of these scholarships will see Ceylinco Life’s commitment to this scheme reach Rs. 100 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 recognises academic as well as extra-curricular achievements of children of Ceylinco Life policyholders.
Applications for scholarships close on 30 November, the company said.
“We have seen the value of the Pranama scholarships increase over the years as the costs of educating children impose a progressively heavier burden on parents,” Ceylinco Life’s Managing Director/CEO R. Renganathan said.
“The scholarship program has also helped motivate thousands of bright young Sri Lankans to strive for excellence throughout their academic careers.”
Ceylinco Life has to date presented Pranama scholarships to the value of Rs. 91 million to 1,770 young Sri Lankans.
Ceylinco Life Pranama scholarships are presented to policyholder’s children who achieve the best results in their respective districts at the year five 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.
Students who excel at the year five scholarship examinations receive Rs. 90,000, payable in instalments over five years under the Pranama scheme. Students who excel at the GCE O/L receive Rs. 72,000, payable monthly over two years, while students placed first in their districts at the GCE Advanced Level examinations receive scholarships worth Rs. 126,000 each, payable over a three year period.
With this latest round of scholarships, Ceylinco Life has increased the one-time payment presented to students placed second, third, and fourth in their districts at the GCE Advanced Level examination to Rs. 15,000 each, an increase of Rs. 5,000. The national merit awards presented are each to the value of Rs. 35,000.
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.
Independently rated one of Sri Lanka’s most valuable brands, Ceylinco Life has maintained its leadership of the country’s long term insurance sector from 2004 onwards. The company operates the largest branch network among local life insurance companies, and has won multiple international and local awards for its commitment to the community and success in brand equity building.
