Liberty Life Unveils New Savings Plan for Kenyans Aged 18 and Above

Liberty Life Kenya has launched a new savings and protection product, Secure Plan, aimed at helping Kenyans achieve long-term financial goals while providing protection against sudden life events.

According to Liberty Life Kenya, this solution is designed for individuals saving towards milestones such as buying land, building homes, starting businesses, financing education and planning weddings.

The company says the product encourages customers to move beyond open-ended aspirations by setting clear timelines for their financial goals.

According to Liberty Kenya Group Chief Executive Officer Kieran Godden, many people continue to have long-term ambitions but often lose confidence in achieving them when they face financial setbacks.

Secure Plan

“Secure Plan is designed around that reality. It allows customers to move from saying ‘one day’ to identifying what they want to achieve, putting a date to it and having a financial plan that is designed to protect the way,” Godden said.

Unlike conventional savings options, Secure Plan combines savings with life assurance together with a guaranteed maturity benefit.

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Additionally, customers can also choose additional protection against permanent total disability, critical illness, accidental death, and retrenchment, depending on their needs.

In addition, the product offers flexible policy terms which range from 5 to 20 years, with sums assured between Ksh 250,000 and Ksh 100 million.

Plan Available To Adults

Furthermore, policyholders can also increase or reduce their premiums and corresponding sum assured as their financial circumstances change.

The plan is available to individuals aged 18 years and above, with joint-life cover also offered. Children can be included under the policy from birth up to the age of 18, subject to the policy terms.

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Further, the company noted that the launch comes at a time when many Kenyans continue to save through chamas, SACCOs, money market funds, and other channels, but often face challenges maintaining long-term savings due to unexpected expenses and changes in income.

Liberty Kenya says the new product is intended to complement existing saving habits by combining financial planning with protection, enabling customers to work towards their future goals with greater certainty.

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Liberty Life Kenya offices
PHOTO/KW