Leading corporate trustee Axis Pension Trust Ltd. and top life insurer Hollard Life Assurance have partnered to offer insurance-backed pensions featuring free life insurance cover to clients of the Trust. The add-on service is the first of its kind in Ghana, aimed at giving Ghanaians additional comfort while inspiring growth in pension and insurance coverage.
The partnership was launched in Accra at a short ceremony at the Marriot Hotel, and also saw the presentation of a cheque to the first beneficiary of the life insurance cover, John Awuni. Mr. Awuni received the cheque as a beneficiary of his late wife, who was a teacher in the Western Region and a member of the Axis Personal Pension scheme.
Chief Executive Officer of Axis Pension Ltd., Afriyie Oware, said as a leading pension provider Axis Pension Trust is committed to remaining at the cutting-edge of its services.
He said the company aims to ensure that 40 percent of Ghanaian households achieve financial peace of mind. Mr. Oware explained that the free pension-linked life insurance cover is a testament to the partners’ commitment to deliver superior value through innovation.
“The partnership between Axis Pension Trust and Hollard Life will be a source of hope in a time of uncertainty, and further advance our mission of inspiring the African worker to achieve financial peace of mind,” he said.
Managing Director of Hollard Life Assurance, Nashiru Iddrisu, said he is excited to see the partnership already being impactful. He said it is strategic and core to the purpose of Hollard Life to enable more people to create and secure a better future for themselves.
Mr. Iddrisu said, with this partnership, retirees can enjoy peace of mind and financial security, because the insurance cover on their pension will enable them to sustain the standard of living for their loved ones in the event of their death or permanent disability.
“Insurance-backed pensions are a positive disruption of the industry in our collective bid to improve Ghanaian lives such as Mr. Awuni’s. Hollard Life has proven that when it comes to innovation it matters to have the right partners to provide the right products which treat our customers with care and dignity.”
Licenced and regulated by the National Pensions Regulatory Authority (NPRA), Axis Pension Trust is a leading corporate trustee in the country, offering retirement savings solutions and administration services with a core objective to make pension provision painless for employers while being reassuring for scheme members. The company offers world-class services to invest and safeguard the retirement savings of workers for a better future.
A subsidiary of insurance group Hollard Ghana, Hollard Life Assurance combines its deep local knowledge of the market with the world-class expertise of an international insurance brand. The company delivers innovative life insurance solutions customised to the unique risks that customers in Ghana face. It offers easily accessible insurance via retail shops, digital, and nationwide agency offices.