Why Zurich Life Cover?
Zurich’s Life Cover helps provide financial protection for your customer's family should they die or be diagnosed with a terminal illness. They can choose to take out a policy that pays out in a lump sum, or they can select Family Income Cover that pays out a monthly amount over the remaining policy term.
Your customers can also choose to add one of two levels of children’s cover, as well as additional tailored protection if they’re planning to add to their family in the future. Visit our Children’s Cover page for further information on the options available.
Life Cover - key product features
Provides cover to help financially protect your customer’s family should they die or be diagnosed with a terminal illness.
Eligibility
- Minimum age at entry – age 18 attained
- Maximum age at entry – age 83 attained
- Maximum age at end of term – age 89 attained
- Minimum term – 1 year
- Maximum term – 50 years
- Minimum premium - £5 a month or £50 a year
- Life assured must be registered with a UK doctor for at least 6 months prior to application
- Life assured and policyholder must be a UK resident
Included as standard
- Free life cover during underwriting for up to £1,500,000 (eligibility criteria applies)
- Free life cover between exchange of contracts and mortgage completion for up to £500,000 (eligibility criteria applies)
- Terminal illness
- Separation benefit - The ability to cancel a joint policy and start two individual policies after divorce, separation or the dissolution of a civil partnership, without answering any underwriting questions
- Milestone benefit
Additional benefits
(added at extra cost)
- Children's Cover
- Children's Enhanced Cover
- Pregnancy and Early Childhood Cover
- Multi-Fracture Cover
- Zurich Accelerate
- Waiver of Premium
- Conversion Option
- Renewal Option
Additional benefits
Children's Cover options
Add either Children’s Cover or Children’s Enhanced Cover to your customer’s policy as well as Pregnancy and Early Childhood Cover if they’re planning to add to their family in the future.
Multi-Fracture Cover
Pays up to £6,000 If your customer breaks a bone, dislocates a joint, ruptures their Achilles tendon or tears a cruciate ligament in their knee.
Zurich Accelerate
A range of services offering fast access and support for your customer and their family for investigations, diagnosis and international treatment for cancer, cardiovascular and neurological conditions.
Waiver of Premium
We'll pay the premiums on the policy if your customer is too ill or injured to work for more than 6 months and they can't perform their current job.
Renewal Option
Your customer can take out a new policy for up to the same term as the original policy when their cover ends without the lives assured answering any questions about their personal circumstances. Not available on joint life second event policies, family income cover or decreasing cover.
Conversion Option
Your customer can convert their policy to a Zurich Whole of Life policy without answering any questions about their personal circumstances. Not available on joint life second event policies, family income cover or decreasing cover.
Choose the cover that's right for your customer
- Choose cover on a single life, joint life first event basis or joint life second event basis
- Choice of how the policy pays out – lump sum payment or monthly payments (family income cover)
- Choice of level, decreasing or increasing cover option
- Increasing cover options of a fixed 3% or 5% or linked to RPI
- Choice of decreasing interest rates between 2% and 18% (at 2% intervals)
- Choice of monthly or annual premiums
- Guaranteed premiums (unless cover changes or increases)
Flexibility to continue to meet your customer’s needs
We’ve built our products in a way that lets your customers choose the level of cover they want, and change it when their life changes. So where we can, we’ve made it possible for you to make changes without having to go through underwriting and asking your customers questions about their health, or changes in their personal circumstances. They can also remove any additional benefits they’ve selected during the life of their policy.
Our contractual change sales aid shows all the changes your customers can make to their policy.
As an adviser you can make any necessary changes to your customer’s Personal Protection policy through the online adviser portal.
Milestone benefit
We know a lot can happen between the day your customer takes out their policy and the day they need to make a claim. When these significant events occur, your customer can use the milestone benefit feature of their policy to increase their sum assured. They won't have to answer any health questions, but their premiums will change.
Mortgage
Take out a mortgage or increase the mortgage they already have
Marriage
Get married or enter a civil partnership
Separation
Divorce, separate or dissolve a civil partnership
Inheritance tax
Have an increase in their inheritance tax liability
Loss of group life cover
Lose their group life cover when switching jobs
Becoming a parent
Starting a family
Rent increase
Have an increase in their rental payments
Payrise
Get a pay rise of 10% or more
The maximum increase your customer can make using their milestone benefit is the lower of their original sum assured or £200,000. If they’ve selected family income cover, the most they can increase their sum assured by with this benefit is the lower of their original sum assured or £200,000 divided by the number of remaining months left on the term of their policy.
This benefit must be used within 90 days of the significant life event and can only be used if your customer is 54 years old or younger.
If your customer is using this option in connection with an increase in inheritance tax liability, they will need to be 69 years old or younger.
Useful tools and calculators
Zurich Life Protection Platform
Pre-App tool
Get accurate indicative underwriting decisions before applying.
Zurich Learning Hub
Your flexible learning hub - offering on-demand resources, bite-sized videos, interactive sessions, and expert insights to help you grow, your way.
Risk Reality calculator
Our Risk Reality calculator is a valuable tool to help your customers understand the risks associated with being unable to work due to illness or injury, suffering a serious illness or death.
Useful links
Protection help point
For queries relating to new business applications, including web support queries.
Claims
Visit our claims page for information on how to claim and up to date claims statistics.
Zurich Support Services
An independent team of counsellors, advisers and legal experts are there for your client and their family.
Advice Matters
Read the latest protection news from our experts and from around the industry.