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Category Life Insurance

Liberty Life rises to the challenge of a new era in SA insurance

24 October 2006 Protactic Strategic Communications

The challenging nature of the South African financial services sector has led to a new era in life assurance, which has resulted in Liberty Life launching a range of new generation, value-for-money products that are now amongst the most affordable in the market.

Group Executive Sales and Distribution Bobby Malabie reveals: South African consumers have become far more educated about personal finance and are now demanding products that are specifically designed to meet their needs. With this in mind, our new range of innovative life insurance products has been specifically designed to be in touch and in tune with the financial reality of the average South African.

The new generation products include:

*  Life Cover Plan - Requires no medical examination. All that prospective policyholders are asked to do is fill in a simple, five-question medical questionnaire. Other key features include an accelerated death benefit, which means that if a policyholder is permanently disabled, they will still receive the benefits due to them on the life policy.

* Accident Plan - Available for clients and their spouse with a particular focus on their occupation i.e. if they are not able to work it will pay out the sum assured depending on the option chosen.

* Standard Family Funeral Plan - This is designed to offer funeral cover for a client and their immediate family. It also features the option of life assurance to the premium-payer.

* Extended Family Funeral Plan - Allows an employed person to provide cover for their extended family members as well; i.e. Uncles, aunts, brother/sisters children etc.

* Comprehensive Funeral Plan - Similar to the standard plan the difference being that premiums are waived at age 65 yet the cover will continue until the policyholders death. 
 
The new range of products also features a number of innovations that add significant value to the offering. For example, the Premium Skip facility means that should a client experience financial difficulties Liberty Life will allow them to skip one months payment, within each year of the policy being in force.

However, this hasn't stopped Liberty Life from incentivising clients for paying each and every one of their premiums in the form of a Bonus Account i.e. if after five years they havent made a claim on the policy, Liberty Life will pay them a bonus. The amount paid will depend on how many premiums they have paid each year, i.e. the more they pay the more theyll get back.

To find out more about how Liberty Life is rising to the challenge of providing South Africans with reality-based, relevant life insurance, send an email to elm@liberty.co.za and a Financial Advisor will contact you or you can visit the website at www.libertylife.co.za

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