AIICO Insurance’s annuity payout hits N1.3bn monthly

AIICO Insurance Plc, an insurer in Nigeria, has highlighted the transformative impact of its annuity product on the lives of its customers, paying out N1.3 billion monthly.

The payment provides these annuitants with a guaranteed stream of income for their retirement years.

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

This growth is fuelled, not only by new customer acquisition but also by the trust and positive experiences of existing policyholders, who have referred friends and family to the product, the company said.

The human impact of AIICO’s annuity product is evident in the stories of its customers.

For instance, Samuel Ogunremi, an annuity customer, has been ecstatic about his experience with AIICO Insurance since he bought the annuity policy years ago.

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“I have been with AIICO since 2012, and I have no cause for regret. People ask me how I have been getting my retirement money every month without disappointment. I always tell them to try AIICO Insurance because they have been paying me without fail. Since I retired, AIICO hasn’t let me down. I always get my payment monthly. So, I am happy to recommend AIICO to others for the same good experience,” Ogunremi said.

Another annuity recipient, Ayetunde Aiso, a former civil servant, echoed this sentiment. “Ever since I signed up for AIICO’s Annuity for my retirement, I have always received my payment as and when due – no delays and no stories. I have experienced peace of mind. I have no problem recommending AIICO to anyone who wants to enjoy a peaceful retirement.”

“At AIICO, we understand the importance of financial stability, especially during retirement,” said Gbenga Ilori, executive director and head of Retail Business at AIICO. “Our Annuity product is designed to address this very need, offering our customers peace of mind with guaranteed monthly payouts for life. We are proud to be a part of their financial journey.” Ilori stated.