Liberty Life launches new products

SHARE   |   Monday, 21 March 2016   |   By Staff Writer
Liberty Life launches new products

To offer financial freedom to clients, specialist life insurers Liberty Life Botswana on Tuesday launched two new products- the Platinum Life Plan and Simple Life Plan. Launching the products Chief Executive Officer Lulu Rasebotsa said financial freedom gives peace of mind even when things are falling apart; gives the feeling of comfort, security and hope. She said financial freedom is important to families, to breadwinners, to single parents with seemingly unending responsibilities but most critically in difficult times. 

"We all know how hard we have to work to provide to our families, build our careers, buy a house and take care of life expenses. Most of us rely on our income to cover these costs and maintain our lifestyles. Consider a case of a young working couple with young children in a new house with new cars. If one of them were to pass on, the family will have to survive on a single source of income. The surviving spouse will be left with the full responsibility of covering the outstanding costs of the mortgage, cars and other living expenses. This unfortunate case has become too common in Botswana and the emotional and financial distress devastating," said Rasebotsa.

She said it is this sad reality that has inspired Liberty to develop meaningful life protection solutions. "Today we are proudly launching two major innovative solutions that are designed to help make financial freedom a reality for our people – The Liberty Platinum Life Plan and the one of a kind Liberty Simple Life Plan," she said. The beauty about Platinum Life Plan is that it is comprehensive. It not only covers death but also includes critical illness and disability. Customers can get Life Cover of up to 15 million pula (P15 000 000) with premiums as little as P150 per month. What makes this product unique from that of competitors is that the life cover is not affected when a critical illness or disability claim is made and Liberty gives 100% pay-out no matter the severity of the illness.

Rasebotsa hailed the Simple Life Plan as a ground-breaking showstopper in the market, as one of a kind in Botswana. Through this plan Liberty offers one million pula (P1 000 000) life cover with no medical questions asked, and no medical checks required.  "As you can imagine, for a lot of households, this will provide a welcome relief. With both these products there is no waiting period for accidental death. Indeed, we at Liberty, have taken a long hard look at the risks individuals face in terms of mortality, disability and illness and what those unexpected, life-changing events mean to income and family lifestyle. We understand that family is important to our customers and that is why for Liberty it’s not just about the insurance cover, but how we support our clients. For example, the company provides coverage to parents and extended family members, and funeral claims are paid within 48 hours. There is no or limited underwriting on individual life products, and also cash back options on some benefits such the hospital cash back offer,” she said.