By Eddah Waithaka
Liberty Kenya has significantly strengthened its investment-linked life insurance plan, LifeVest, by embedding Critical Illness and Permanent Total Disability benefits at no additional premium giving customers greater protection as they build long-term wealth.
The enhanced LifeVest plan now offers customers a more comprehensive safety net. Policyholders can start with a single premium investment from as low as KShs 50,000, with subsequent top-ups allowed from KShs 1,000. The plan also provides liquidity through partial withdrawals of up to 25 per cent of the fund value annually, subject to policy terms.
Built-in life cover equivalent to 10 per cent of the accumulated fund value capped at KShs 5 million remains a core feature. Crucially, the newly added Permanent Total Disability and Critical Illness benefits now each provide an additional 30 per cent of that life cover amount, at no extra cost to the customer.
Policyholders can track their fund performance and access account information conveniently through Liberty’s digital customer portal or USSD platform.
A response to evolving financial realities
Liberty Kenya Group Chief Executive Officer Kieran Godden said the enhanced LifeVest plan addresses a growing need for integrated financial planning amid rising household economic pressures.
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“The traditional separation between saving, investing, and insurance is becoming less aligned with the financial realities facing families, professionals, entrepreneurs, and pre-retirees,” Godden stated. “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.”
The enhancement arrives as households grapple with escalating healthcare costs, fluctuating incomes, expanding family responsibilities, and mounting pressure to prepare adequately for long-term financial needs.
Nkoregamba Mwebesa, Managing Director and Principal Officer at Liberty Life, emphasised that customers increasingly demand straightforward, flexible solutions that address real-life challenges.
“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 targets customers seeking to accumulate wealth over time while maintaining robust financial protection for themselves and their families. As an investment-linked insurance product, the accumulated fund value depends on contributions, applicable charges, and the performance of the selected investment portfolio.
