Annuitants, popularly referred to as pension plan beneficiaries, have commended AllCO Insurance Plc for prompt payment of their N68.2 billion benefits in the past five years.

According to the annuitants, the underwriter disburses N1.5 billion monthly to annuitants, providing them with income for retirement. Despite the economic challenges, annuitants said AllCO Insurance has remained faithful.

For them, AIICO’s commitment to financial security goes beyond offering products as the company fosters a growing community of financially empowered individuals, evident in the continuous rise in its annuity customer base.

The President of the Retired Customs Officers Association of Nigeria, Akin Iguoba, commended the company for its unique and value-packed product.
“I first heard about AIICO’s annuity product through friends in the early 2000s and signed up in 2014. Over the years, AIICO has proven to be a reliable partner, with a strong track record and a consistent payment system that ensures financial stability in retirement,” he said.

He noted that trust has led him and his colleagues to not only introduce fellow retirees to AIICO but also engage actively serving officers, encouraging them to secure their future with AIICO’s annuity plan.

Another customer, Imelda Anyanwu, stated: “I have been on AIICO’s annuity plan for 12 years since retiring from Union Bank. My experience has been exceptional; I chose AIICO based on a strong recommendation, and it has proven to be a good decision. Beyond the consistency and timeliness of payments, what truly stands out is the human touch of its service, responsiveness, and professionalism of AIICO’s staff.”

Speaking on this, the AIICO’s Executive Director/ Head of Retail Business, Gbenga Ilori, said the underwriter understands the importance of financial stability, especially during retirement.

“We are proud to be a part of their financial journey. We are confident that the annuity market holds immense potential, and we are well-positioned to capitalise on this growth. Our robust financial standing and exceptional customer service ensure that our annuity policyholders receive not only a guaranteed income but also peace of mind throughout their retirement life,” he said.