Family Income Protection
Protecting your household income and lifestyle
Child Illness Protector
Why do I need it?
If your child were to become terminally ill you would want to spend as much time caring for them as possible. We have therefore included this benefit free of charge under the Absolute Income Protector benefit.
How long will I be covered?
There is no waiting period so you will be covered from day one for up to 12 months so that you can take care of your child and not worry about your finances.
What does it cover?
You don’t have to physically lose your income to claim. This unique benefit pays you your monthly sum assured – up to a maximum of R30 000 per month – should your child (18-years or younger at claim stage) be diagnosed with a terminal illness.
This refers to the monthly benefit amount that you will receive if you become disabled. If you cecome imparied, a percentage of this benefit will be paid. The percentage will depend on the severity of the impairment.
Click here to download detailed information about Child Illness Protector.
Guaranteed Dependant Protector
Why do I need it?
A sad reality is that some people die shortly after becoming disabled. If you are a large contributor to your family’s income or even the sole provider, their emotional and financial stresses after your death will heighten.
We understand this pressure and offer a market first benefit that protects your family should you pass away shortly after becoming disabled. This benefit protects your family financially when they need it the most.
What does it cover?
It protects your family against financial loss when death occurs within 12 months after disability or impairment, for which you are receiving an Absolute Income Protector claim payment at the time of passing away.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
This ensures your family is still supported by cover if you die shortly after becoming disabled. Your family will not lose all of the remaining Absolute Income Protector cover that you would have had if you were still alive. Instead, they will be paid a multiple of between one and 12 times the Absolute Income Protector sum assured as a final lump sum.
The multiple that makes up the lump sum will be dependent on the number of monthly claim payments that have already been paid under the Absolute Income Protector benefit at the time of death.
Click here to download detailed information about Guaranteed Dependant Protector.
Living Lifestyle Dependant Protector
Why do I need it?
The cost of caring for a dependant who contracts a critical illness is often high. This benefit helps to relieve the financial strain should this occur.
What does it cover?
It offers additional cover and security to your family by providing a lump sum of six times your Absolute Income Protector sum assured should one of your dependants be diagnosed with a critical illness.
This benefit covers your spouse and your children provided they are legally declared as such. Children who are born after the inception of the policy will automatically be included under the cover. Your child must be 18 years or younger at the date of diagnosis to qualify for this benefit.
NOTE: Your child or spouse will not have to undergo any medical examinations but you will need to declare their good health at inception of the policy.
Click here to download detailed information about Living Lifestyle Dependant Protector.
Maternity Pause Option
Why do I need it?
While the excitement (and tummy) grow during your pregnancy, so too do your expenses. Maternity leave is a time for you to focus on keeping healthy and active, and enjoying ‘you time’. Premiums should be the last thing on your mind.
This is why we are proud to introduce yet another first from Liberty. This benefit provides expectant mothers with financial relief through covering their Income Protector premiums for the four months while on maternity leave. This is paid as a lump sum payment upfront.
And, it’s totally free to females younger than 59, who have at least two of the following benefits with Liberty:
- Living Lifestyle Protector
- Living Lifestyle Dependant Protector
- Guaranteed Dependant Protector
To claim, all you need to do is supply proof of maternity leave, a birth certificate or adoption papers. A maximum of two maternities are allowed per policy.
Note: Maternities and adoptions that occur within the first nine months of the benefit are not covered.
Click here to download detailed information about Liberty's Maternity Pause Option benefit.