EIS, a core and digital platform provider for insurers, today announced the winner of the 2021 EIS Life Lessons Scholarship, organized by Life Happens, which provides educational resources to a student who is struggling financially. This year, the $5,000 scholarship has been awarded to Jaden, a 17-year old student from California, who intends to use the funds to pursue his studies in theater and acting.
Jaden lost his father at the age of five due to complications from a hemorrhagic stroke. Since his father had no life insurance, Jaden’s family had to rely on friends to pay for funeral services and meet other expenses. 12 years later, the family continues to face the financial and emotional repercussions of their loss.
“A college education is a major financial challenge for most American families, but it becomes much more difficult after the loss of a parent or guardian, especially if they haven’t purchased sufficient life insurance. We are delighted to be able to support Jaden,” said Alexandra Schwartze, EIS’ vice president of global human resources. “As we celebrate Life Insurance Awareness Month, it’s important to note that 100 million Americans don’t have any life insurance, and most have far less coverage than recommended.”
“As part of EIS’ participation, and to raise awareness of the need for protection,” added Schwartz, “EIS employees have also shared their own compelling stories of how life insurance has had a positive impact on them and their families.”
The loss of a parent or guardian is one of life’s most difficult ordeals. The emotional strain can be devastating to children and young adults. For too many families, an untimely death also brings financial stress, making recovery all the more difficult.
Students can apply for the program during the month of February by submitting either a 500-word essay or a three-minute video describing the emotional impact of losing a parent and the financial impact that the lack of life insurance created. Since its inception, Life Happens has awarded more than $2 million to 600 students.