LifeVest - External Frequently Asked Questions

LifeVest

LifeVest is a flexible investment and insurance solution designed to help customers grow their savings while providing built-in financial protection along the way. The enhanced proposition responds to the growing need for integrated financial planning, where investment growth is supported by protection against high-impact life events such as death, critical illness and permanent total disability.

Product at a Glance

Area	Approved Detail
Product type	Flexible investment and insurance solution underwritten by Liberty Life.
Minimum investment	Single premium investment from KShs 50,000.
Policy term	5 to 20 years.
Entry age	18 to 80 years.
Fund	You can select from the investment options below, each designed to match different financial goals and risk preferences:• Conservative Fund – Ideal for those seeking steady growth while prioritizing the protection of their capital.• Moderate Fund – A balanced solution that combines stability with growth potential, offering a mix of conservative and growth-focused investments.• Aggressive Fund – Suited for investors looking to maximize long-term growth opportunities and who are comfortable with a higher level of risk.• Cash Portfolio – Perfect for those seeking stability, easy access to their funds, and consistent returns.
Top-ups	Allowed from KShs 1,000.
Withdrawals	Customers may withdraw up to 25% of fund value annually, subject to policy terms. The product FAQ notes withdrawals start from the second year of the policy.
Life cover	10% of accumulated fund value, capped at KShs 5 million.
PTD and Critical Illness benefits	Each benefit is equivalent to 30% of the life cover amount.
Maturity benefit	100% of accumulated fund value at maturity.
Tracking	Online customer portal or USSD *373#.

A. Product Purpose and Market Context

1. What is LifeVest?

LifeVest is a flexible investment and insurance solution designed to help customers grow their savings while receiving built-in financial protection along the way. It combines an investment component with life cover, Critical Illness cover and Permanent Total Disability cover within one planning solution.

2. Why has Liberty enhanced LifeVest?

Liberty has enhanced LifeVest to respond to the changing financial realities facing customers. Many households are trying to invest for education, retirement, home ownership, family security and legacy, while also managing the risk that illness, disability or an unexpected life event could interrupt their plans. The enhancement brings wealth creation and wealth protection into one solution.

3. What does the phrase “Build Wealth. Protect Wealth.” mean?

It means customers should not only focus on accumulating funds, but also on protecting the financial goals attached to those funds. LifeVest is positioned around both investment discipline and protection against events that can disrupt income, savings and family stability.

4. Is LifeVest an investment product or an insurance product?

LifeVest is both an investment and insurance solution. It allows customers to invest a single premium and grow their fund value over time, while also providing built-in life, Critical Illness and Permanent Total Disability protection. It should be understood as an integrated financial planning solution rather than only a savings product.

5. How is LifeVest different from traditional savings or investment products?

Traditional savings or investment products typically focus mainly on accumulation and returns. LifeVest also focuses on protection. The built-in insurance benefits are intended to help customers manage the risk that an unexpected event could force them to liquidate savings or interrupt long-term plans.

6. How is LifeVest different from standalone life or health insurance?

Standalone insurance products are designed primarily around protection. LifeVest combines an investment component with embedded protection benefits. It is not a substitute for every form of insurance a customer may need, but it helps make protection part of the investment planning conversation.

7. Who is LifeVest designed for?

LifeVest is designed for customers who want to invest for long-term financial goals while maintaining protection against major life risks. This may include professionals, parents, entrepreneurs, pre-retirees, family decision-makers and customers planning for education, retirement, wealth accumulation or legacy.

B. Product Features and Customer Considerations

8. What is the minimum investment amount?

The minimum single premium investment is KShs 50,000.

9. What is the policy term?

The policy term ranges from 5 to 20 years.

10. What is the eligible entry age?

The entry age is 18 to 80 years.

11. Does LifeVest guarantee investment returns?

No. LifeVest is linked to underlying fund performance. Any discussion of expected growth must remain aligned to approved product material and should not promise guaranteed returns.

12. What protection benefits are included?

LifeVest includes inbuilt life cover, Critical Illness benefit and Permanent Total Disability benefit.

13. How is the life cover calculated?

The life cover is equivalent to 10% of the accumulated fund value, capped at KShs 5 million.

14. How are the Critical Illness and Permanent Total Disability benefits calculated?

Each benefit is equivalent to 30% of the life cover amount.

15. Are the Critical Illness and Permanent Total Disability benefits provided at an additional premium?

Under the enhanced proposition, these protection benefits are embedded at no additional premium to the customer, subject to the policy terms and conditions.

16. What happens at maturity?

At maturity, the customer receives 100% of the accumulated fund value.

17. Can I make additional contributions to my LifeVest policy?

Yes. You can make additional top-ups from as little as KShs 1,000, giving you the flexibility to grow your investment whenever you’re able to contribute more.

18. Can I access my funds before the policy reaches maturity?

Yes. LifeVest offers flexibility when you need it most. From the second policy year, you can access up to 25% of your fund value annually through partial withdrawals, subject to policy terms and conditions.

19. Can I terminate my LifeVest policy early?

Yes. You may cancel your policy or make a full withdrawal before the maturity date. However, early termination is subject to the applicable policy terms and conditions and may affect the value of your benefits. We recommend consulting Liberty or your financial adviser to fully understand the implications before making this decision.

20. How can I track investment performance?

You can easily track your investment performance through the online customer portal or via USSD by dialling 373#. This gives you convenient access to your investment information anytime, anywhere.

C. Access, Eligibility and Compliance

21. What should I consider before investing in LifeVest?

Consider your financial goals, how long you plan to invest, your need for access to funds, and your comfort with investment risk. Be sure to understand the benefits, costs, and terms of the policy to ensure it suits your needs.

22. Is financial advice recommended?

Yes. To make sure LifeVest is the right fit for your financial goals and needs, we recommend speaking with a qualified financial adviser or an authorised Liberty representative for personalised guidance.

23. Is LifeVest regulated?

LifeVest is underwritten by Liberty Life. Liberty and Heritage Insurance operate within the regulatory framework of the Insurance Regulatory Authority.

25. Does LifeVest replace health insurance?

No. While LifeVest includes a Critical Illness benefit, it is not a substitute for comprehensive medical insurance. Depending on your healthcare needs, you may still require separate medical cover for added protection.