It is a specialist life insurance company that provides group and individual/personal risk insurance solutions for life changing events. Our vision is to become the trusted leader in insurance and investment in our chosen markets by putting the customer’s needs first, creating products that have market relevance and forming strong partnerships in our markets.
Whether you’re a small business, large corporate or affinity group with many members, we have experience in working with our partners to understand their needs. We believe that in times of unfortunate events, the last thing our customers should worry about is finances.
Liberty Life Insurance Zambia is a subsidiary of Liberty Holdings, founded in 1957 by Sir Donald Gordon with the belief that everyone should have the opportunity to grow their wealth and leave a proud legacy for their family. Liberty Holdings has grown into an organization with assets under management of R645 billion as at 7 August 2015 across Africa, more than 2,5 million clients and properties that cover 1,5 million square kilometers. With a presence in 17 African countries, Liberty has grown from being a South African life insurer to a Pan-African financial services company, offering Asset Management, Investments, Insurance (i.e. Long-Term, Short-Term) and Health products.
As a group of companies, Liberty offers an extensive, market-leading range of products and services to help customers build and protect long-term wealth. These include life and health-related insurance, investment management and retirement income facilitation. Customers have flexible choices and the input of the experienced management team in Zambia, leveraging off the Liberty Group capabilities and resources.
Offering Services
Each life assured is covered for 105 days of hospital stay.
This means that each life assured can claim as many times as needed subject to the maximum limit of 105 days.
EXAMPLE
Mr X purchased the Hospital Cash Back Plan with a K100 a day benefit.
- He is hospitalized for an appendectomy and was in hospital for 4 days.
- He will receive K400 as a benefit amount.
- The remaining days that Mr X can still claim for is 101 days over the rest of the life of the policy.
- He later claims for an unrelated hospital stay of 5 days.
- He will receive K500 as a benefit t amount.
- The remaining days that Mr X can still claim for is 96 days over the rest of the life of the policy
If discharged from hospital and re-admitted within 10 days, for a related condition, the claim will continue i.e. the 3 day minimum stay will be waived.
EXAMPLE
Mr K purchased the Hospital Cash Back Plan with a K500 a day benefit.
- He is hospitalized after a traffic accident and was in hospital for 10 days with the first 4 days in ICU.
- He will receive K7 000 as a benefit amount.
- The remaining days that Mr K can still claim for is 95 days over the rest of the life of the policy
An additional lump sum of 5 times the Daily Benefit Amount is payable if an insured person is still in hospital on day 21 i.e. benefit payable is 26 times daily benefit. If an insured person is in ICU on day 21, they will receive an additional 10 times the Daily Benefit Amount.
Increase cover.
You can increase your cover on every policy anniversary. A new waiting period will apply only on the additional cover.
More reasons why you should have a Hospital Cash Back Plan.
- Ensure your family’s well-being is a top priority in the event of hospitalization by getting cover for you, your spouse and up to 4 children.
- Get up to K500 for every day you are in hospital for more than 3 days.
- No medicals required when taking this policy.
- Get double pay-out for each day of hospitalization in Intensive Care Unit (ICU).
- Multiple claims for up to a maximum of 105 days in hospital for each person covered
- The Loyalty Reward Benefit t allows you to be rewarded every 3 years with a cash back benefit whether you have claimed on the policy or not, subject to the policy being in force and all premiums fully paid.
- Additional lump sum for hospitalization longer than 21 days
| Individual | Main member | |||
| Family | Main member, spouse and up to 4 children | |||
| Main Member | Spouse | Each Child | ||
| Minimum entry age | 18 | 18 | 15 days old | |
| Maximum entry age | 62 | 62 | 17 | |
| Cover cease age | 65 | 65 | 21** | |
The policy ends when the main member reaches age 65 i.e. cover for spouse and children will also end. Cover cease age for children that are students at a registered institution is 25. For children that are disabled and dependent on the main member, the cover cease age is 65.
Daily Benefit Amount.
You can choose between 4 daily benefit options
K50 per day | K100 per day |K250 per day| K500 per day
| 1 | Mrs K’s cover for K250 commences |
| 2 | Mrs K increases her cover to K500 |
| 3 | During the 6 month waiting period, Mrs K will have benefit cover of K250 a day for natural causes. Mrs K will also be covered for K500 a day for accidental causes. |
| 4 | After 6 months, Mrs K will now be covered for K500 for claims 4 due to accidental and natural causes. |
Out of country cover.
You will be covered for stays in hospitals within Lesotho and South Africa.
Waiting Periods.
- There is a 15 days waiting period for new born babies.
- There is a 6 month waiting period before cover will commence for any claims due to natural causes.
- There is a 9 month waiting period if hospitalization is due to complications of childbirth, abortion, miscarriage, pregnancy or any other condition arising from this.
When cover starts
| STEP 1 | Complete application form |
| STEP 2 | Accidental cover starts immediately |
| STEP 3 | Pay First premium |
| STEP 4 | Waiting period starts |
| STEP 5 | At the end of the waiting period, cover for natural events starts |
Making a claim.
A minimum of 3 days (24 hours a day) continuous stay in hospital is required for a valid claim.
Certain less serious medical conditions require a minimum of 7 days or more
Continuous stay in hospital (influenza and bronchitis, kidney infections, gastric Influenza, gastritis, diarrhea, headaches and migraines, laryngitis, sinusitis and pharyngitis, bromyalgia, chronic fatigue syndrome, back injury).
Claim Process.
You must go to your broker, agent or sales consultant to lodge the claim. All valid claims will be paid within 14 days after all the required claim documents as stated in the terms and conditions have been submitted to Liberty. Documents must be submitted after discharge or after day 21 if the insured person is still hospitalized.
|
Monthly premium on Individual Option |
||
| Daily Benefit Amount | 18-49 years old | 50-62 years old |
| K50 | K12 | K14 |
| K100 | K17 | K21 |
| K250 | K31 | K42 |
| K500 | K54 | K75 |
|
Monthly premium on Family Option |
||
| Daily Benefit Amount | 18-49 years old | 50-62 years old |
| K50 | K23 | K26 |
| K100 | K38 | K44 |
| K250 | K82 | K98 |
| K500 | K157 | K189 |
Optional Benefit.
We know that the cost of living only ever increases, which is why we offer you the option of an Annual Benefit Increase (ABI). You can choose to increase your Daily Benefit Amount by 5% each year.
a) Mr X buys the Hospital Cash Back Plan with a Daily Benefit Amount of K500. He chooses to include an ABI of 5% per year in this policy. After 10 years of having this policy, his Daily Benefit Amount will be K776.
b) Mr Y buys the Hospital Cash Back Plan with a Daily Benefit Amount of K500. He chooses not to include an ABI on his policy. After 10 years of having the policy, his Daily Benefit Amount will be K500.
How it works.
- The Daily Benefit Amount is paid per full day in hospital subject to a maximum of 21 days per claim.
- The Daily Benefit Amount is paid after discharge, or after 21 days if still in hospital.
- If still in hospital after 21 days, you get an additional 5 times the Daily Benefit Amount.
- Maximum of 105 days covered per member covered for the duration of the policy.
- For pregnancy related claims maximum benefit payable is 5 times the Daily Benefit Amount and thereafter there will be no additional lump sum payable.
Liberty Life Insurance Zambia Limited
Kwacha Pension House, 1st Floor
Stand 4604, Tito Road,
Rhodes Park, Lusaka
Zambia
Cell +260 21 125 5536
Cell +260 21 125 5537
Email: info@liberty.co.zm
Email: claims@liberty.co.zm
Email: complaints@liberty.co.zm
For Health cover visit
wwww.libertyhealth.net