Namibia
Simple Life Plan
Straightforward life cover, without medicals or complexity.
Life Cover
Life Cover pays a lump sum to your nominated beneficiary when you pass away. Here is how it works.
Who can be covered
Anyone between the ages of 18 and 60.
Cover period
You are covered for life, as long as you pay your premiums monthly.
Cover amount
Choose from N$100,000 to N$1,000,000.
Beneficiary
Paid to your nominated beneficiary.
Premium
Calculated on your age, gender, cover and the ABI you select. Monthly premiums must be paid through a bank debit order. Premiums are age related.
Waiting period
None for accidental causes. 12 months for natural causes.
How you will benefit
In times of unfortunate events, the last thing you should worry about is finances. That's why our Simple Life Plan takes care of your financial needs, so that you can focus on what really matters: your family.
A lump sum pay-out
Up to N$1,000,000 to your beneficiary in the event of your death.
Your Life Cover remains
If you claim for Permanent Disability, Critical Illness and Physical Impairment.
No medical tests
No questions asked.
No waiting period
For accidental causes.
ABI Option
Choose an Annual Benefit Increase of 5% or 10% to assist in keeping your benefit in line with inflation for additional peace of mind.
Out of Country Cover
You're covered outside Namibia for up to 12 months.
Additional benefits
Designed to help you and your family when you can no longer earn an income.
Cover Increase Benefit
Choose to increase your cover every 12 months as your lifestyle changes.
Build your cover
Pick your life cover amount and see how every built-in benefit scales with it.
View the full cover schedule
| Life Cover Selected | Critical Illness | Physical Impairment | Permanent Disability | Funeral Benefit | Accidental Death Additional Cover |
|---|---|---|---|---|---|
| N$100,000 | N$50,000 | N$100,000 | N$100,000 | N$10,000 | N$25,000 |
| N$200,000 | N$100,000 | N$200,000 | N$200,000 | N$10,000 | N$50,000 |
| N$300,000 | N$150,000 | N$300,000 | N$300,000 | N$10,000 | N$75,000 |
| N$400,000 | N$200,000 | N$400,000 | N$400,000 | N$10,000 | N$100,000 |
| N$500,000 | N$250,000 | N$500,000 | N$500,000 | N$10,000 | N$125,000 |
| N$600,000 | N$300,000 | N$600,000 | N$600,000 | N$10,000 | N$150,000 |
| N$700,000 | N$350,000 | N$700,000 | N$700,000 | N$10,000 | N$175,000 |
| N$800,000 | N$400,000 | N$800,000 | N$800,000 | N$10,000 | N$200,000 |
| N$900,000 | N$450,000 | N$900,000 | N$900,000 | N$10,000 | N$225,000 |
| N$1,000,000 | N$500,000 | N$1,000,000 | N$1,000,000 | N$10,000 | N$250,000 |
Annual Benefit Increase (ABI)
For an additional amount, you can choose to increase your cover by 5% or 10% every year. This helps your benefit keep pace with inflation. Here is what N$100,000 of Life Cover looks like with a 10% ABI.
| Policy year | Life Cover with a 10% ABI |
|---|---|
| Year 1 | N$100,000 |
| Year 2 | N$110,000 |
| Year 3 | N$121,000 |
| Year 4 | N$133,100 |
| Year 5 | N$146,410 |
Not sure how much cover you need?
A Liberty adviser will help you find the right cover amount for your family.
How the policy works
Additional Benefits
Permanent Disability
A lump sum is paid out should you become permanently unable to work due to disability. This will help with the loss of income and unexpected new expenses as a result of the disability.
Critical Illness
A lump sum is paid out on the first diagnosis of the following illnesses: Cancer, Heart Attack, Coronary Artery Bypass Graft, Stroke, Major Organ Transplant or End-Stage Renal Failure. In this difficult time assistance may be needed for health care resources or other medical expenses.
Accidental Death
This benefit increases your Life Cover by 25% in the event that you pass away due to an accident.
Physical Impairment
It's an emotional time that can cause financial strain due to lifestyle changes. Which is why this benefit pays out a lump sum should you suffer any of the following permanent impairments: loss of sight, loss of hearing, loss of or loss of use of the limbs, loss of speech, suffering major burns, or the inability to perform at least four out of the following six daily living activities: bathing, dressing, feeding, continence, mobility, transferring.
Funeral
This benefit pays out an additional lump sum of N$10,000 within 48 hours of your death to assist with funeral expenses.
Cover period
The additional benefits cover you up to age 65.
Beneficiary
The additional benefits are paid out to you.
Cover amount
Up to the same value as your Life Cover for Permanent Disability and Physical Impairment, but not higher than your Life Cover. Up to half the value of your Life cover for Critical Illness.
Waiting period
None for accidental causes. 12 months for natural causes.
Cover increases
You can increase your cover and take up additional benefits every 12 month period from the start date of your policy. A new waiting period will apply only to the additional cover.
Out of Country Cover
You will be covered outside Namibia for a maximum of 12 months provided that premiums are paid monthly. You may increase the 12 month period by informing us in writing and we will confirm before this is effected.
Claiming for other benefits
You will need to go to your registered broker, agent or sales consultant to lodge the claim. They will advise you of the required documents.
For example:
If you have an N$200,000 Life Cover initially and increase it by N$200,000 12 months later, the lower N$200,000 cover starts immediately while the new N$200,000 cover is subject to a waiting period.
N$200,000 Life Cover from start of policy
12 months later: additional N$200,000 added
Waiting period applies only to the new N$200,000
After 12 months, full N$400,000 cover active
Life Cover
Your nominated beneficiary must go to your registered broker, agent or sales consultant to lodge the claim. All valid claims will be paid after all the required claim documents have been submitted to Liberty and the claims assessment is complete.
Ready to take care of your family?
Request a call back today. A Liberty adviser will tailor cover that suits your needs.