It is a life assurance policy arranged by employer for his employees. In the event of death, the beneficiaries of the employees receive a lump sum death benefit. The benefit is provided in termsof Section 14 (1) of the Pension Act 2023 which states that an employer shall, in addition tomaking pension contributions on behalf of its employees, maintain a life insurance policy infavour of each of its employee for minimum insurance cover of one time the annual pensionableemolument of the employee.
Lillian Moyo, PhD, MBA, BA, ACII
Managing Director
She is a seasoned executive with over 23 years of leadership experience in the financial services sector, spanning life insurance, pensions, micro-insurance, donor-funded programs, microfinance, and banking. In her current role as the Managing Director, she provides strategic direction for the life and pension services companies. She holds a Doctor of Business Administration from Exploits University, an MBA, and a Bachelor of Arts in Humanities from the University of Malawi. As a Chartered Insurer (ACII, UK), she has also undertaken advanced professional training in insurance, financial services, public relations, and micro-insurance. Her training includes programs with the Chartered Insurance Institute (UK), London Chamber of Commerce and Industry, and the ILO International Training Centre. She is recognized for her extensive expertise and contribution to the industry.
Lillian Moyo, PhD, MBA, BA, ACII
Managing Director
She is a seasoned executive with over 23 years of leadership experience in the financial services sector, spanning life insurance, pensions, micro-insurance, donor-funded programs, microfinance, and banking. In her current role as the Managing Director, she provides strategic direction for the life and pension services companies. She holds a Doctor of Business Administration from Exploits University, an MBA, and a Bachelor of Arts in Humanities from the University of Malawi. As a Chartered Insurer (ACII, UK), she has also undertaken advanced professional training in insurance, financial services, public relations, and micro-insurance. Her training includes programs with the Chartered Insurance Institute (UK), London Chamber of Commerce and Industry, and the ILO International Training Centre. She is recognized for her extensive expertise and contribution to the industry.