Liberty Kenya has enhanced its investment-linked life insurance plan, LifeVest, by incorporating Critical Illness and Permanent Total Disability benefits at no additional premium, strengthening the protection available to customers as they build long-term wealth.
The enhanced LifeVest plan allows customers to start with a single premium investment from KShs 50,000, with subsequent top-ups allowed from KShs 1,000. Built for flexibility, it offers liquidity by enabling partial withdrawals of up to 25 per cent of the fund value annually, subject to policy terms.
In terms of protection, LifeVest provides built-in life cover equivalent to 10 per cent of the accumulated fund value, subject to a maximum cover amount of KShs 5 million. Crucially, the newly embedded Permanent Total Disability and Critical Illness benefits are each equivalent to 30 per cent of this life cover amount and are included at no extra premium cost.
Customers can track the performance of their policy and access relevant account information through Liberty’s digital customer portal or USSD platform.
Speaking about the new offering, Liberty Kenya Group Chief executive Officer, Kieran Godden said the enhanced LifeVest plan seeks to provide Kenyans with a broader approach to financial planning, at a time many households are increasingly struggling to balance long-term wealth creation with the risk of sudden financial disruption caused by illness, disability, loss of income, and unexpected life events.
“The traditional separation between saving, investing, and insurance is becoming less aligned with the financial realities facing families, professionals, entrepreneurs, and pre-retirees. While more Kenyans are becoming intentional about investing for education, retirement, homeownership, and legacy planning, many remain exposed to risks that can quickly interrupt years of disciplined saving,” he added
The enhancement comes as households contend with rising healthcare costs, fluctuating incomes, growing family responsibilities and increased pressure to prepare adequately for long-term financial needs.
Nkoregamba Mwebesa, Managing Director and Principal Officer at Liberty Life, said customers increasingly expect financial solutions to be straightforward, flexible and relevant to the challenges they face at different stages of life.
“Customers want solutions that support their ambitions, but they also need confidence that one unexpected life event will not completely derail their financial progress,” said Mwebesa.
LifeVest is designed for customers seeking to accumulate wealth over time while maintaining financial protection for themselves and their families. As an investment-linked insurance product, the value of the accumulated fund is determined by contributions, applicable charges and the performance of the selected investment portfolio.
