Voluntary Insurance Prudential Beneficial Partners with the NSIF

On the 21st of March, the Conference room of the Board of Directors of the NSIF was the venue for the signing of two partnership agreements between the NSIF and Prudential Beneficial Life Insurance and Prudential Beneficial General Insurance.

These agreements aim to extend social protection to the sales agents of the two Prudential Beneficial companies.

A concrete commitment to greater inclusion

Nearly 3,500 Prudential Beneficial sales agents will now benefit from social security coverage. This initiative is part of the Cameroon government's commitment to extending social protection to all workers, including those in the informal sector.

Building loyalty among sales agents through social protection

Handsome Brain Nkwenti, Deputy Director General of Prudential Beneficial Life and Prudential Beneficial General emphasised the importance of these agreements in retaining the loyalty of its sales agents: These agreements will help us to retain our sales agents, because most of the time when a sales agent comes to us, they are unable to retire. The lack of payment of their social contributions to the NSIF is one of the reasons why they don't stay with us for long because they often tell themselves that they are going to work and that once they reach retirement age, which is 60, they won't be able to benefit from a retirement pension.

Mr Nkwenti also highlighted the importance of educating and supporting sales agents so that they understand the importance of subscribing to Voluntary Insurance: I understand that these social contributions will be voluntary, but through our branch managers, we are going to educate our sales agents about the importance of subscribing to voluntary insurance. We also need support from the NSIF, in the form of meetings with our sales agents, for more information”.

A lasting and ambitious partnership

This renewable two-year partnership demonstrates the commitment of both parties to work for the well-being and social protection of all workers, whatever their status.

Positive impact expected

The signing of these agreements is a major step forward for the social protection of workers in the informal sector in Cameroon. This partnership will improve the well-being of the sales agents of the two Prudential Beneficial companies while contributing to the country's economic growth.

An exemplary partnership to emulate

The Director General of the NSIF hailed Prudential Beneficial's initiative and encouraged other companies to follow suit: Prudential's initiative is something we greatly value because it enables us to guarantee the success of the social policy, not only of the President of the Republic, who initiated it but also on a day-to-day basis. It strengthens us in our actions and allows us to broaden the portfolio of our insured persons as much as possible”.

The signing ceremony ended with a nice family photo of the participants, symbolising the commitment of both parties to work together for the well-being of workers in the informal sector in Cameroon.

The signing of these agreements between Prudential Beneficial and the NSIF is an important step in the fight for better social protection for workers in the informal sector in our country. This exemplary partnership shows that it is possible to reconcile economic performance with social responsibility. It is to be hoped that other companies will follow this example so that all Cameroonian workers can benefit from adequate social coverage.