Liberty is introducing a series of upgrades to its renowned Lifestyle Protector cover which includes a new cancer policy that extends protection for the disease well beyond existing offerings on the market.
The insurer is introducing its Cancer Claim Booster which is an absolutely unique offering in that it covers cancer progression beyond diagnosis and treatment.

It pays an additional 25% after stage three or four cancer that progresses despite treatment, or which reoccurs, or results in a 12-month life expectancy or less.

“Cancer is never a predictable journey, and previously patients would simply receive an insurance payout at the beginning only to find that they needed more funds if the disease persists in some way down the line, which is unfortunately a reality in some cases,” says Kresantha Pillay, chief specialist for risk solutions at Liberty.

Upgraded critical-illness cover

Along with this innovative extended cancer cover, Liberty is also introducing a Critical Illness Booster, which pays out an additional 25% to 100% extra for certain long-term conditions that require additional support.

“This would help support you if you had a heart transplant, for example, and needed something like anti-rejection medication for the rest of your life,” Pillay says.

“Having cover like this takes care of events that have a life-long impact which in turn can have a serious effect on your finances. Another example would be limb loss, where ongoing treatment for physical and mental outcomes would be required to lead a more normal life.”

Early cancer and mild illness-cover upgrades

A further new cover offering is an extended upgrade to help with less serious diseases, but which require some financial assistance.

In this case the cover pays out 10% of the Living Lifestyle sum assured.

For example, this could be used to pay for something like the removal of a pre-malignant lesion, or it could be used to cover brief hospitalisation for something like Guillain-Barre Syndrome for example.

Some of the most comprehensive insurance packages available

Another upgrade that is now also being offered is the ability to cover your child on the Living Lifestyle policy all the way up to the age of 25.

This recognises the global trend where children can sometimes spend longer in education in order to get ahead.

“We’re always looking at ways to offer more comprehensive cover. We want to be able to offer assistance in all kinds of life situations and these new enhancements will allow advisers to broaden their offerings, and keep their clients fully protected,” Pillay says.

Liberty, now part of the broader Standard Bank group, offers a range of long-term life insurance solutions, including life cover, disability and retrenchment cover, business cover and retirement planning.

Recently during the group’s half-year results, Liberty recorded a favourable result, with a 19% jump in earnings.

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