Zurich Life Insurance

Zurich is a global insurance policy provider currently based in Zurich, Sweden. Zurich Insurance Group Limited was founded in 1872.

Like most providers of insurance back then, their main focus was on maritime insurance although the company did dabble in other areas of interest as well.

The company has gone from strength to strength over the years. A number of acquisitions in the latter half of the 20th Century resulted in the company starting to integrate itself into markets that it was previously unable to do so.

Due to these acquisitions the company was renamed Zurich Financial Services in 2000. Due to the company’s focus on insurance policies it went through one further name change to become Zurich Insurance Group LTD in 2012.

Zurich Life Cover

Zurich offers a number of different plans when it comes to life insurance. Each of them has their own individual benefits and it is worth investigating each option to see which is the best fit for your own individual needs:

  • Level Protection Plan: This is the most basic of the Zurich Life Insurance plans. You have the option of adding ‘critical illness protection’ onto the plan. This will enable you to receive a payment before you die if you are diagnosed with a serious illness or injury. In some cases you may also receive coverage if you find yourself unable to work. The payments on this account will be regularly reviewed and may go up or down depending on the status of your account.
  • Decreasing Mortgage Plan: This type of life insurance is fantastic for those who have to deal with a mortgage or other large loan. This decreasing mortgage plan is a ‘fixed term’ plan. It will only exist until your mortgage or large loan has been paid off. The amount of premium you have to make and the amount that the insurance plan pays out will dwindle over time as the cost of your loan reduces.
  • Adaptable Life Plan: This is an incredibly flexible plan and you have a number of different options at your disposal to truly make your insurance plan your own.

Zurich Life Cover Benefits

  • Your life insurance policy will be held by one of the most reputable companies in the world. This means that you can be sure that you will receive a pay-out from Zurich.
  • Zurich is known for providing some of the most flexible plans around. This means that you will truly be able to make your life insurance policy ‘your own’.
  • Guaranteed Payments: You will receive a guaranteed payment. You will always know exactly what you are going to receive upon death.
  • Some plans include critical illness or injury cover. This means that you may be entitled to a pay-out before you die. This can be important for dealing with lost wages or making other plans. You may have to add this type of coverage as an addition to your life insurance plan with Zurich.
  • Your payments will be regularly reviewed by Zurich. This means that in some cases you could potentially have a reduction in the premium that you need to pay. Depending on your circumstances it may also go up. It is worth noting that this is very unlikely however.

Zurich Life Cover Eligibility

When it comes to Zurich Life Cover Eligibility almost everybody can apply. It is however worth noting that there are some caveats in place which may reduce the longevity of the plan. In most cases you will be required to undergo a medical in order to ensure that you are in decent health upon applying for your life insurance.

  • Life cover plans have to be in place for at least one year. The maximum length of time that it can run is 50 years. It must end before you are 85.
  • Critical illness cover must last five years. It can run up to 40 years at the most. It must end before your 75th birthday.

It is worth noting that in some cases you can renew your insurance policy. If you have a joint policy then the details above will apply to the oldest person on the policy. If there is a wide age gap then it may actually be worth having two distinct policies instead.

Zurich Life Insurance Income Protection

Zurich Life Insurance’s income protection plan is designed to provide benefits upon serious injury or illness occurring which could lead to a loss of earnings. The company offers just one income protection plan. You do have a great deal of choice over how it is run though. You will be able to choose the amount of benefit you require. You will also be able to choose the length of time after your injury or illness before you get paid. You will also be able to decide how long you wish to get paid for.

Zurich Life Insurance Income Protection Benefits

  • You can live safe in the knowledge that your insurance policy is being offered by one of the most reputable companies in the world when it comes to life insurance.
  • You have full control over your policy. This means that you will be able to tailor your account to suit your own needs.
  • You can opt for either premier or essential cover. The former will allow you to make as many claims as you want before your term ends. Essential cover will last for five years. This is potentially renewable. Your premium may go up though.

Zurich Life Insurance Income Protection Eligibility

You can apply for this form of insurance if you are of working age. You can only have the policy up to 65 years of age.

Zurich TPD Insurance

Zurich offers, in some countries at least, TPD Insurance. This will leave you entitled to a payment should you become totally or permanently disabled to the point where you are unable to work again. This type of cover will make a variety of different pay-outs depending on the option that you select. The money can be used to cover lost earnings, pay for any renovations to your home which may be required due to the loss of mobility or function, and even pay a family member to stay at home to care for you.

Zurich TPD Insurance Benefits

  • Your insurance policy will be provided by one of the most reputable companies in the world. This will leave you safe in the knowledge that your money is safe and your payments are guaranteed.
  • Your TPD insurance can be combined with your life insurance policy in some circumstances.
  • The TPD insurance policy is fully flexible.

Zurich TPD Insurance Eligibility

You can apply for TPD insurance through Zurich if you are currently of working age. You may find it difficult to apply for the policy if you have a condition which could potentially mean that the insurance company may have to make a pay out.

Zurich Funeral Insurance

Zurich’s Funeral Insurance is in place to help pay for the funeral costs upon death. This is similar to the other life insurance policies. The only difference is that you will only receive funeral expenses and no other costs.

Zurich Funeral Insurance Benefits

  • Lump sum payment between $5,000 and $15,000 depending on the policy taken out.
  • Premiums do not increase.
  • You do not need medical insurance.
  • You will receive a full refund of the policy within 12 months in the event of accidental death. After that death by any cause will be covered.

Zurich Funeral Insurance Eligibility

Anybody between 35 and 70 is able to opt for Zurich Funeral Insurance.

Zurich FAQ

How Safe is my Money With Zurich?

Zurich is perhaps one of the most secure insurance companies in the world. You are virtually guaranteed a payment from them.

Is there a cooling off period on Zurich Policies?

Yes, there is a thirty day cooling off period on all policies offered by Zurich.

Do I need a medical exam?

This depends. Some insurance policies offered by Zurich will require a medical examination. If you are of sound health then it is worth opting for the examination as it can shave a considerable sum off the cost of your insurance.

Can I include TPD Insurance in my Life Insurance Policy?

Yes, you can. The vast majority of people do in order to make considerable savings on their insurance policy.

How much coverage do I get on a Zurich Life Insurance Policy?

This depends on a variety of different factors including your premium and your age. It is worth getting in touch with Zurich to find out the exact amount you may be entitled to.

 

 

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Income Protection  Life Insurance