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Liberty Life rolls out critical illness cover - VIDEO

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Summary

  • Liberty Life Assurance has launched a critical illness product, Hekima plan, that eases the financial costs borne by families when critical illness strikes.
  • The plan whose minimum term is five years with a maximum period of 16 years is available to all adults aged between 18 years and 60 years.
  • The premiums to be paid depend on sum assured and terms of the cover.

Liberty Life Assurance has launched a critical illness product, Hekima plan, that eases the financial costs borne by families when critical illness strikes.

The plan whose minimum term is five years with a maximum period of 16 years is available to all adults aged between 18 years and 60 years.

The premiums to be paid depend on sum assured and terms of the cover.

The firm said the launch of the product follows a study that revealed a rising worry among Kenyans of the heavy financial burden that befalls them when terminal ailments such as cancer, heart attacks, stroke and major organ failure strike.

In case of such an ailment being diagnosed during the term of the cover, beneficiaries will receive 30 percent of the lumpsum lessening the financial burden brought about by such illness.

Besides the listed beneficiaries drawing a lumpsum amount on the death of the assured, they can also benefit from payments to the assured in case of a job loss or disability.

Disabilities covered under Hekima plan include the permanent loss of sight in both eyes and hearing in both ears, permanent loss of speech, major burns, loss of two limbs and inability to take care of themselves.

In case of no ailment reported at the end of the cover, the beneficiary will enjoy a 10 percent cashback of the cover amount, it says.