Let us help protect you and your family from the financial impact of life's unexpected events such as death, disability and critical illness.
At Liberty, we offer investment solutions that can help you, as an individual, reach your investment goals.
Your family means a lot to you. What steps should you take to ensure that their current and future needs are met?
Liberty Corporate offers a wide range of risk and annuity products, tailored to an employee’s unique needs.
Liberty Corporate has a range of investment portfolios suitable as retirement funds and for businesses.
Liberty Corporate’s umbrella solutions give you the flexibility to structure employee benefits.
Liberty Corporate’s fully fledged administration team provides a comprehensive fund administration service.
Liberty Corporate provides a multitude of specialist consulting and actuarial solutions.
Losing a loved one is always difficult emotionally and can become even more difficult if those left behind experience financial strain as a result of this loss. Our Group Life Assurance Benefit pays a lump sum in cash to a member’s beneficiaries in the event of his or her death. Benefits are expressed as a multiple of salary or as a Rand amount. Members’ beneficiaries have the flexibility to use the cash lump sum pay-out as they see fit. Benefits can be used to help make payments towards a member’s debt such as mortgage or vehicle loan so that the dependants do not have to give these up when the member has died. Benefits can be used to pay for education costs of dependants where such a need exists. Benefits can also among other uses, help dependants to start out in life such as putting a down payment on a house. Dependants can take the pay-out and convert it such that it may be received as a series of regular income, monthly or annually depending on their preference. Benefits can also be used to fund a trip around the world. Dependants have the complete freedom to put to use the benefit such that it meets their financial needs whatever they may be.
A continuation option, if selected at inception, allows members who leave an employer or scheme to continue their cover with minimal underwriting
Group Life Assurance Benefit brochure
Group Life Assurance Benefit pays a lump sum in cash to a member’s loved ones in the event of his or her death. So you or your employees are freed from the worry of financial implications in a time of grief.
At Liberty Corporate, we do our utmost to eliminate financial strain during times of need and difficult circumstances, such as death. We provide members with as much information as possible to enable them to better understand what they are covered for in the event of a death.
Please see below for a breakdown of Group Life Assurance Benefit cover.
What are members covered for?Cover is limited to the following:
When will the member’s cover end?
We do our utmost to eliminate financial strain during times of need and difficult circumstances, such as death. Group Life Assurance Benefit pays out a lump sum when it’s needed most.
We want to provide members with as much information as possible to enable them to better understand what they are covered for in the event of a death.
Members are covered as follows:
The member’s cover will end based on the following criteria (whichever comes first):
How does it work?
Your policy is renewed on a yearly basis, to assess changes in your circumstances and to determine your new outstanding loan amount and new premium.
This will be valid for a specified guaranteed period. The cost of the life insurance policy is usually added as a nominal fee to a consumer’s monthly payment.
No cover will be payable if you lose your job because of ill health, labour disputes, resignation, if the dismissal is your fault, the expiry of your contract or if you had prior knowledge of the retrenchment.
Cover does not include instalments in arrears.
Who is the policyholder?
Any registered credit provider or provider of goods and services on an instalment basis is the policyholder. This may include, but is not limited to:
Non-bank vehicle financiers
Other credit providers
Maximum cover:Cover cannot exceed the original amount that was agreed upon and this amount will be sent to the credit provider in writing.
Cover will cease when:
The period covered by your last premium has ended.
You reach the maximum cover age.
You are no longer eligible for insurance in terms of the policy.
You are no longer bound in terms of the credit agreement.
Your absence from the country exceeds the periods permitted by Liberty Corporate in terms of the policy. Territories include South Africa, Lesotho, Namibia, Botswana, Mozambique and Swaziland.
Cover will be provided for a maximum of 12 months outside of the mentioned territories, subject to the continued payment of premiums.
What extra options are available?
Conversion option:This option is available for 60 days after you leave the scheme and allows you to continue your cover if you leave the scheme, with minimal or no underwriting.
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