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Lifestyle Protector Wellness Bonus – Actively engage in a healthy lifestyle and get up to 40% of premiums back in cash



Liberty has designed a unique way to reward clients who actively engage in a positive and healthy lifestyle and can demonstrate this through wellness programmes that Liberty recognises. Clients can potentially earn back, in cash, up to 40% of the qualifying Lifestyle Protector premiums, from their fifth policy anniversary onwards.

Liberty’s Divisional Executive: Retail Solutions Shared Value, Nalen Naidoo says, “This is a major innovation in the way long-term insurers reward their clients for living a healthy lifestyle. We used customers’ wellness measurements from Recognised Wellness Programmes, created a Liberty Wellness Score for clients and integrated this into our long-term insurance solutions.  Our customers can continue to enjoy the benefits of their preferred wellness programme and enjoy the benefits of guaranteed cover from Liberty.  Businesses like Uber and Airbnb have taught us that we don’t need to physically own all the assets within the ecosystem to be able to make them work for our customers in the form of innovative and improved propositions.”

Evolution to becoming a risk partner

The Lifestyle Protector Wellness Bonus is a result of Liberty’s continuous efforts towards becoming more client-centric.  “Traditional solutions that bring together wellness programmes and insurance products give customers potential upside, but also usually have significant downside risks in the form of higher future premium increases or reductions in cover, relative to original quote illustrations. This impacts most people who, despite good intentions, are not able to manage their wellness status into the top tiers, sometimes for reasons out of their control.  These traditional solutions sometimes introduce a risk to intermediaries advising customers, too. Having listened to the needs of financial advisers and clients, we designed the Lifestyle Protector Wellness Bonus to give customers the opportunity to benefit from significant upside when they manage their health in such programmes, but with no downside, as the charge paid is returned as a minimum bonus, and they continue to enjoy guaranteed cover from Liberty.  We believe our clients can enjoy a ‘best of both’ worlds scenario,” says Naidoo.

How Lifestyle Protector Wellness Bonus works

A client must have a Liberty Lifestyle Protector policy with qualifying benefits and be a member of a wellness programme that Liberty recognises. When a Lifestyle Protector Wellness Bonus feature is added to a Lifestyle Protector policy, he/she will contribute an additional 5% of qualifying monthly premiums. To get the most value out of the Lifestyle Protector Wellness Bonus, a client should engage in healthy behaviour, have it measured through his/her wellness programme, and look to improve or maintain his/her Liberty Wellness Score. Once a year, Liberty must be updated with the latest Recognised Wellness Programme tier status information. Bonuses are banked each year and from the fifth policy anniversary onwards, clients receive a portion of their annual premiums paid back in cash, depending on how their statuses have changed over time.

Naidoo explains, “With Lifestyle Protector Wellness Bonus, a client’s monthly premiums and cover amounts will not change in an unexpected, opaque manner; only the cash back bonus will be impacted by engagement with a client’s Recognised Wellness Programme.”

Financial advice is essential to reap the benefits of the Lifestyle Protector Wellness Bonus

The value of financial advice in making any important decision cannot be underestimated. As one of the most comprehensive long-term insurance solutions available, Lifestyle Protector offers clients a wide range of risk benefits. An experienced financial adviser should help the client select the right combinations suited to their individual lifestyles.

In addition to the Lifestyle Protector Wellness Bonus, Lifestyle Protector also has the ADDLIB cash-back feature which rewards qualifying customers for trusting Liberty to meet their protection, investment and retirement needs.  The Lifestyle Protector Wellness Bonus aims to complement the ADDLIB bonus, with customers having the potential to get up to 50% of their Lifestyle Protector premiums back in cash, depending on their Wellness Score, and the other Liberty protection, investment and retirement products held.

Naidoo concludes, “Financial advisers have all the knowledge and expertise required to ensure clients’ protection and investment needs are covered effectively. Based on how clients choose to engage in a positive and healthy lifestyle, they can now also help clients get the best value out of their Lifestyle Protector Wellness Bonus.”

For more information on Lifestyle Protector Wellness Bonus speak to an accredited Liberty financial adviser today.