Insurance, Pension

FBNInsurance sensitizes retirees on annuity


From left: Alhaji S. A. Olonade, Mrs. Mobonike Ogundipe, Adekunle Adeola, Head of Actuarial Services/ERM/Annuity and Valentine Ojumah, MD/CEO, FBNInsurance Limited at the FBNINSURANCE annuity seminar held in Lagos.

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Chuks Udo Okonta

In keeping with her brand promise of helping her clientele “create and grow wealth”, FBNInsurance Limited recently organised a one-day annuity seminar for retirees and prospective retirees.

The Head, Actuarial Services/Enterprise Risk Management, FBNInsurance, Adeola Adekunle, at the well-attended seminar that took place at the FirstBank Training School, Lagos, said: “Retirees constitute a growing chunk of our populace. For them, it’s about their pensions and gratuities. However, more often than not, these lump payments rarely last them a while before they become broke and helpless. This seminar is our way of enlightening this set of people, as well as those close to retirement, about ways of keeping afloat in retirement by introducing them to our Life annuity product, the Guaranteed Lifetime Retirement Income plan (GLRP).”

The FBNInsurance Guaranteed Lifetime Retirement Income plan is an immediate annuity plan that helps the policy holder maintain a desired lifestyle in retirement by converting their pension lumpsum or gratuity into a regular stream of income. With the GLRP, a policy holder can choose to receive payments guaranteed to last for: a lifetime; his/her lifetime and his/her spouse’s or for a guaranteed time period of ten years or more. The plan also comes with an optional death benefit that ensures the beneficiary gets a certain, pre-agreed sum in the event of death of the policy holder.

The seminar also featured a health and wellness talk where a medical practitioner, Dr. Lekan Adelakun, gave a moving lecture on how to maintain a healthy lifestyle at retirement. “Health is wealth, so they say. Without sound health, there can be no meaningful living. So, it is necessary we let our retirees know the importance of keeping themselves healthy and also let them realise only the living can enjoy their wealth,” the medical doctor summarised.

FBNInsurance Limited, an FBN Holdings company associated with the Sanlam Group SA, is headquartered at 34 Marina, Lagos. They can also be reached on

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