Heirs Insurance Group has launched a ₦5 million grant scheme to support retirees and pre-retirees in achieving their long-held retirement aspirations. The initiative, called the Heirs Insurance Retirement Dream Competition, was announced in a statement on Sunday by the company.
According to the firm, the programme is designed for Nigerians between the ages of 50 and 75 years who are either already retired or preparing for retirement after years of paid employment. The goal is to help senior citizens transform their retirement dreams into reality.
The competition will see three winners selected from entries submitted across the country. The overall winner will receive ₦2.5 million, while the first and second runners-up will be awarded ₦1.5 million and ₦1 million, respectively.
Heirs Insurance explained that to participate, applicants must send in a one-minute video where they describe their retirement dream and how the grant would help them enjoy a better post-retirement life. The competition is open to individuals who have been in formal employment and are eager to share their vision for life after work.
The company revealed that the winners will be announced in October 2025 after all entries have been reviewed. It further encouraged senior citizens to participate, noting that the initiative is an opportunity for retirees to actualise plans that may have been held back due to financial constraints.
The initiative is an extension of the Heirs Insurance Retirees Club, a newly launched community created by the company to provide a support system for Nigerian retirees. The Retirees Club aims to create a platform where senior citizens can network with one another, receive expert advice on health and financial matters, and access guidance to improve their quality of life after retirement.
Speaking on the new project, the company stated, “The Heirs Insurance Retirees Club and the Heirs Insurance Retirement Dream Competition are part of the group’s wider effort to empower Nigerians. This is in line with our company’s purpose to improve lives and transform Nigeria. Through this initiative, Heirs Insurance Group demonstrates its commitment to making insurance accessible to everyone.”
Heirs Insurance noted that the competition also reflects its goal of changing the narrative of retirement in Nigeria. Instead of retirement being seen as a period of limitation, the company believes it can be a time for self-fulfilment and new opportunities if retirees receive the right level of support.
The launch of this competition comes at a time when many Nigerians continue to struggle with inadequate retirement savings and limited pension funds. Analysts have often raised concerns that a large number of workers retire without sufficient resources to sustain a comfortable life. Initiatives such as this, industry observers say, could help cushion the impact of financial gaps in retirement planning.
In recent years, the Nigerian insurance industry has been working to deepen awareness about the importance of insurance products, pensions, and long-term planning. Heirs Insurance, led by Tony Elumelu’s Heirs Holdings Group, has been at the forefront of efforts to provide innovative insurance solutions to individuals and businesses across the country.
The company believes that beyond selling insurance policies, its role should include empowering Nigerians at different stages of life. The introduction of the retirees’ competition, therefore, serves as both a social impact programme and a way to build stronger connections with a critical segment of the population.
Retirees and pre-retirees across the country are now expected to begin submitting their video entries for consideration. The winners, to be unveiled in October, will represent the success stories of how support at the right time can change lives in retirement.
With the ₦5 million grant scheme, Heirs Insurance Group hopes to set a new benchmark in how financial institutions can support ageing populations in Nigeria, turning retirement into a stage of fulfilment rather than difficulty.
