Millions of people across Kenya dream of building homes, starting businesses, buying land or paying for their children’s education. But turning these ambitions into reality can be difficult when unexpected expenses derail savings plans.
The familiar phrase “ipo siku”, or “one day”, captures these aspirations, and the challenge of giving them a clear timeline.
About 85% of adults in Kenya have access to formal financial services, but the proportion who save reduced from 74% in 2021 to 68.1% in 2024. Only 18.3% are considered financially healthy enough to meet every-day needs, absorb financial shocks and continue building towards long-term goals, according to figures cited in the campaign.
Medical bills, job losses, accidents and other emergencies can force households to use money set aside for school fees, housing or business investments.
Liberty Kenya’s Secure Plan seeks to support customers save towards specific financial goals while providing financial protection against certain unexpected events.
The plan combines long-term savings with life cover and additional protection benefits. Customers can choose a policy term of between five and 20 years, depending on their goals and circumstances.
The key benefits are:
- Guaranteed maturity benefits: Customers receive the policy’s guaranteed maturity benefit at the end of the term, payable either as a lump sum or in four equal instalments, subject to the policy terms.
- Life cover of up to Ksh 10 million: Provides financial protection for beneficiaries if the policyholder dies, subject to underwriting requirements and policy conditions.
- Optional critical illness cover: Offers additional protection against specified critical illnesses, subject to the selected cover and policy terms.
- Optional retrenchment benefit: Provides protection in the event of qualifying job loss through retrenchment, subject to the applicable conditions.
- Optional double accident benefit: Provides an additional benefit in qualifying accidental-death circumstances, according to the policy terms.
- Waiver of premium in the event of disability: An optional benefit that can help maintain the policy if the customer meets the conditions for disability-related premium waiver.
- Last-respect cover: Provides up to Ksh 200,000 in cover for the customer and eligible biological or legally adopted children, subject to policy conditions.
- Access to a policy loan: Customers may borrow against their policy after the qualifying period, subject to the terms and conditions.
Therefore Liberty Kenya’s Secure Plan is designed to help customers work towards future milestones while adding protection against risks that could interrupt their plans. The optional benefits may have additional costs, hence customers should confirm the premiums, exclusions, eligibility requirements and pay-out conditions before taking up the policy.
For households trying to balance daily expenses with long-term ambitions, the central challenge is not simply saving money, but keeping a financial plan on track when circumstances change.
Giving a dream a deadline, whether it is opening a business, buying a home or funding a child’s education, can make it easier to calculate how much needs to be saved and for how long.
Secure Plan aims to bring those goals within reach by combining a structured savings timeline with financial protection along the way.