Liberty Life Insurance is a blue chip entity which has gained reputation within the South Africa financial services industry. As part of the giant Standard Bank Group, the company has the right kind of financial muscle required in the life insurance industry. The company has managed to become deeply involved within the South African business landscape at many different levels. It is one of the biggest player in the property market and has under its wing a wide-ranging network of community projects and sponsorships.
Liberty Life Insurance does not deal directly with clients during the process of selling life insurance products. Instead the company relies on a highly effective business model which places reliance on a vast network of brokers. Despite fierce competition from direct insurers, the company seems to have found success with its current business model. At Liberty Life Insurance you will find all types of life coverage including some additional complementary products such as medical insurance and lifestyle protection.
Liberty Life Insurance provides three types of products in its personal life insurance range:
Liberty Life Cover Plan
The Liberty Life Cover is a low cost insurance policy which pays out a lump sum benefit upon the death of the Main Life Assured. This type of coverage targets a large sector of the consumer market, one that requires affordable life cover. Liberty Life Cover provides coverage for death and permanent disability and there is no need for medical tests.
Liberty Lifestyle Protector
The Liberty Lifestyle Protector provides cover for four main aspects of your life. Life cover includes terminal illness benefit paid out when the life assured is diagnosed with a dread disease which renders them unable to provide for their family. which pays out a lump sum in the event that you are succumb to a permanent disability. Liberty Lifestyle Protector also comes with a policy protection cover in terms of which you are protected against the risk of losing your policy cover because of the temporary inability to make premium payments.
The Liberty Life Cover provides a lump sum benefit in the event of death of the main life assured. Payment of a lump sum benefit helps to ensure that your family is financially secure when you are no longer there to provide for them.
Lifestyle protection is a living lifestyle policy which covers four main areas of risk:
- Life Protection specifically incorporates the educational costs of the children of the policyholder. The benefits which can be enjoyed under this policy include Liberty Life Educator, Life Cover, Funeral Benefit and Renewable Life Cover.
- The Liberty Life Loss of Income Protection includes Income Disability Cover, Overhead Expenses Benefit, Capital Disability Absolute Protector which guards against the risk of being unable to continue with your occupation and Long-Term Protector Plus which pays out a monthly benefit for members over the age of 65.
- Lifestyle Protection covers the risk of dread disease or severe illness. There are several other options available under this cover such as the Female Living Lifestyle protection covering congenital birth defects and pregnancy problems. The Child Living Lifestyle is designed to provide cover for children who are diagnosed with certain dread diseases and the Hospitalisation Lifestyle Enhancer helps to cover hospital expenses associated with the treatment of a dread disease or severe illness.
- Lifestyle Protection provides policy protection by giving members the option to buy additional cover as a form of Future Protection. This means that policy holders can maintain a form of savings facility which can be used to pay premiums when you are no longer able to do so. The Premium Protector-Death allow premiums to fall away on family benefits in the event of death of the Main Life Assured.
The Liberty Life Accident Plan is specifically aimed at providing a lump sum benefit in the event of your death or disability in a car accident.
The Liberty Life Funeral Plans include the Comprehensive Funeral Plan, Extended Family Funeral Plan and the Standard Funeral Plan.
Business Assurance Products
Liberty Life Insurance offers Business Assurance products which help to protect you and the business entity following the death or disability of a business partner or any other important member of your business organisation.
Liberty Life Contact Details:
Tel: +27 11 408 3911