Liberty hikes premiums for the elderly: 38% this year, 45% next year

Client turns 94 next month, and he has paid premiums diligently on his Liberty life policy for the last 37 years.

But now because of the age risk liberty has hiked his premiums up by 38% this year and has confirmed another 45% hike next year

Liberty informed us in writing his premium for this year would be 84K - They then debited R116K . Last year they also debited 3X his premium "in error".

They do not inform you on the onset of taking the policy that the premiums would increase substantially with age, due to their risk factor.

Please be careful when signing up for a life policy with Liberty. Senior citizens can be hit with premium increases they can no longer afford.