Liberty Life is probably one of the best-known and most pedigreed
companies in South Africa, let alone in the insurance industry itself. It`s a
true blue-chip entity. It is deeply involved at many levels of the South African
business world, and is part of the giant Standard Bank group. It is one of the
largest property owners in the country, has a wide-ranging network of
sponsorships and community projects, and brings the kind of financial muscle to
life insurance that everyone needs. It`s truly a household name in the country,
having penetrated almost all levels of society in one way or another - as far as
a business that isn`t a beer brewery can.
Liberty Life Website
On the Liberty Life website you can learn more about their vast range of products or log in and manage your policy online.
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The company offers all types of life insurance along with additional
complementary products, like lifestyle protection and medical insurance. This
isn`t an insurance company that deals directly with clients when it comes to
selling policies. Instead it has a vast network of brokers that it uses. It has
achieved massive success with this model, and is still highly effective, despite
the competition from the slew of direct insurers that have hit the market in
recent years.
Liberty Life has primarily three products in its personal life
insurance range - the Life Cover Plan, the Universal Lifestyle package and the
Lifestyle Protector. Let`s begin with the Life Cover Plan. This is a low-cost
plan that will pay out a lump sum - and no medical tests are required. It`s a
plan that is aimed at bringing affordable life cover to a large sector of the
consumer market - something that is much needed, especially with the economy
facing the challenges that it does. It covers death or permanent disability.
The Lifestyle Protector product covers you in 4 main areas: Life Protection
covers you in the event of death to ensure that your family has enough money in
your absence. Terminal illness is included in this. Loss of Income Protection
pays you out a lump sum if you are disabled and unable to work, with some
additional options available. Lifestyle Protection is a living lifestyle policy
that covers you against dread diseases - with a top-up option and an extended
option. Finally, Policy Protection covers you against the risk of losing your
other cover because of temporary inability to make payments, temporary
disability or because the state of your health has changed.
The Business Assurance products protect you and your business against certain
types of risk, such as the death or disability of a business partner, the loss
of an important member of your business, or temporary or permanent disability to
yourself.
As a large financial services provider, Liberty Life is able to make
large-scale, diverse and informed investment decisions to be able to offset
insurance payouts and make sure that there is always a future fund that can
finance them. Financial advisers are available and full online servicing is
available for policy holders.
PRODUCTS
- Life Cover
A Life Cover Plan provides a lump sum payout for a low monthly instalment.
No medical tests are required and you can get a portion of your total
premiums as a cash-back reward after 5 years.
- Lifestyle Protector
This covers 4 areas of risk:
- Life Protection that incorporates Life Cover, Renewable Life Cover,
Liberty Life EduCator (specifically covering children`s education costs
in the event of the policy holder`s death) and Funeral Benefit.
- Loss of Income Protection includes Capital Disability (with a Plus
component), Impairment cover, Absolute Protector (cover against the
inability to continue your occupation), Income Disability cover,
Overhead Expenses Benefit and Long-Term Protector Plus (paying you a
monthly benefit over the age of 65).
- Lifestyle Protection in the form of the Living Lifestyle policy that
protects agliainst severe illness or dread disease; or Female Living
Lifestyle covering pregnancy problems or congenital birth defects; or
Child Living Lifestyle, for children who are diagnosed with certain
dread diseases; or Hospitalisation Lifestyle Enhancer to cover hospital
expenses.
- Policy Protection in the form of Future Protector (the option of
buying additional cover without extra underwriting qualifications);
Financial Protector (a savings facility to pay premiums if you can`t);
Premium Protector - Death, allowing premiums to fall away on family
benefits if you die; and Premium Protector - Disability, which does that
same, except in the event that you become disabled.
- Accident Plan
Specifically to pay out a lump sum benefit if you die or are disabled in a
car accident.
- Funeral Plans
Standard Funeral Plan, Extended Family Funeral Plan, Comprehensive Funeral
Plan.
BEE AND CSI INFORMATION
Liberty Life is a leader in both community development programmes and various
sponsorships, as well as being fully BEE compliant. It has its own employment
equity forum.
CONTACT DETAILS
Toll-free telephone: 0860 456 789
Call centre: 0860 102 013
Main switchboard: +27 11 408 3911
Fax: (011) 408 2767
Email: info@liberty.co.za
Physical Address:
Liberty Life Centre
1 Ameshoff Street
Braamfontein
Johannesburg
South Africa
2000
URL: www.libertylife.co.za
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