Liberty Life, a new insurance product for retirees

Liberty insurance Liberty Life, is marketing a new retirement savings product called "Boresha Ustaafu". It is a plan designed for people aged 50 and over. The policy can function as a full-fledged retirement supplement or complement an existing scheme. The minimum draw-down period is 10 years.

The first minimum down payment is 2 million KES (19 120 USD) with periodic payments of 300 000 KES (2 870 USD) minimum. Funds raised by the insurer are invested in two low-risk income funds. At the end of the draw-down period, the retiree can have a guaranteed annuity or a lump sum. He can also decide to continue with the investment.

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