Life Insurance

Retirement Planning

Ceylinco Life to award another 160 ‘Pranama’ scholarships

Will present up to Rs 10 million more in early 2017 to high achieving students 

For the 16th successive year, Ceylinco Life has begun the search for bright young Sri Lankans eligible to win ‘Pranama’ scholarships under the life insurance leader’s flagship rewards programme.

To be presented in arly 2017, these scholarships to four recipient categories will benefit another 160 students and youthful Sri Lankans with disbursements totalling Rs 10 million, the company announced.

The collection of applications from eligible students has commenced, and will close on 30th November 2016, the company said. 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.

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 receive a one-time cash payment of Rs. 15,000 each. The national merit awards presented by the Company are each worth Rs. 35,000.

“Many past Pranama scholarship recipients who are now doctors, engineers, lawyers and in academia have told us that being recognised in this manner was life-changing and extremely motivational,” Ceylinco Life Managing Director/CEO Mr R. Renganathan said. “We have spent more than Rs 110 million on this programme to date, and are completely convinced that it is a worthy investment in the future leaders of our country.”

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.