Newly launched digital life insurance company Viielentra recently partnered up with the nation’s largest college planning and funding organization SAGE Scholars, Inc. which is allowing the insurance company to gift a free guaranteed scholarships to any family who purchases affordable term life insurance through the online digital platform. The partnership has allowed Viielentra to separate itself from its competitors as it becomes the first life insurance company to assist families with making the cost of higher education more affordable. Families looking for life insurance can now receive more than just a quote as Viielentra is redefining what it means to protect and help families with life insurance.
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The no-strings-attached scholarship works as a guaranteed scholarship for all families. The scholarship is like a frequent flyer miles program where families accrue tuition reward points into a rewards account. These points can then be redeemed for a discount on the cost of college tuition where 1 point is equal to that of a $1 tuition discount.
“With inflation having no end in sight, the cost of college tuition started to become unaffordable for families. We noticed a problem and saw an opportunity to provide a solution,” – said Prince Singh, CEO of Viielentra. “The idea was to give families an opportunity to help themselves financially. As long as they keep their life insurance policy active, they will be earning tuition reward points periodically to redeem for a discount on college tuition.”
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Viielentra: Term Life Insurance and Free Guaranteed Scholarships
After purchasing a life insurance policy, families are enrolled into the scholarship program and receive an initial deposit of 500 points. Thereafter, another 4500 points are credited after the second monthly payment. Immediately within the first 40 days families have locked in 5000 points which can be redeemed as a $5,000 discount on college tuition to be used at over 440+ member colleges.
Policy holders can then receive an additional 2000 points per year on an annual basis as long as the policy is still active- as a customer loyalty feature.
If that wasn’t enough, Viielentra also offers other points earning incentives such as the referral bonus. When a policy holder refers a friend or family to purchase a life insurance policy through Viielentra, families can earn an additional 500 points for each referral.
Gone are the days where families and students are writing thousands of essays competing with thousands of other students chasing after the same scholarship that only one person can win.
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