Nairobi, Kenya – Liberty Kenya has enhanced its investment-linked life insurance plan, LifeVest, by introducing built-in Critical Illness and Permanent Total Disability benefits at no additional premium, in a move aimed at strengthening financial protection while supporting long-term wealth creation.
The updated plan allows customers to invest from a minimum single premium of KSh50,000, with additional top-ups from KSh1,000. Policyholders can also make partial withdrawals of up to 25 per cent of the fund value annually, subject to policy terms.
LifeVest provides built-in life cover equivalent to 10 per cent of the accumulated fund value, capped at KSh5 million. The newly added Permanent Total Disability and Critical Illness benefits are each valued at 30 per cent of the life cover amount and are automatically included without an increase in premiums. Customers can also monitor their policies through Liberty’s digital customer portal or USSD platform.
Liberty Kenya Group Chief Executive Officer Kieran Godden said the enhanced product responds to the growing need for financial solutions that combine wealth accumulation with protection against life’s uncertainties.
“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 said.
The enhancement comes as many households continue to grapple with rising healthcare costs, fluctuating incomes, increasing family responsibilities and the need to prepare for long-term financial security.
Liberty Life Managing Director and Principal Officer Nkoregamba Mwebesa said customers are increasingly seeking financial products that are simple, flexible and suited to 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,” Mwebesa said.
LifeVest is designed for customers looking to grow their wealth while maintaining financial protection for themselves and their families. As an investment-linked insurance product, the value of the accumulated fund depends on contributions made, applicable charges and the performance of the selected investment portfolio.
