High-net-worth (HNW) services
Table of contents
Zurich is focused on delivering for our high-net-worth (HNW) customers - delivering high reinsurance capacities, flexible underwriting and personal service.
We are committed to delivering an outstanding high-net-worth proposition and service to advisers and their clients, and we are proud to be offering our expertise and experience when it comes to placing high value and complex business.
Outstanding service
Zurich has considerable expertise in placing HNW business. We understand the importance of strong relationships and a personalised experience, and that’s why we have a team of experts on hand to provide support on your HNW cases.
Large Case Underwriting
Cases which meet the following criteria will be handled by our experienced Large Case Underwriting team:
| Criteria | Cases between |
|---|---|
| Premium | £500 monthly or £6,000 yearly to £1,000 monthly or £12,000 yearly |
| Life Cover | £1.5 million to £5 million |
| Critical Illness Cover | £800,000 to £1.5 million |
| Income Protection | £75,000 yearly to £150,000 yearly |
Benefits of Large Case Underwriting
- Direct access to a Large Case Underwriter at any stage pre or post application via our dedicated phone line or email
- 24 hour turnaround on applications referred to our underwriters to determine any further requirements
- Quick turnaround of medical assessments - aiming for 24 hours subject to any referrals to our reinsurers or Chief Medical Officer (CMO)
- Flexible medical screening - we can use a travelling or independent doctor, or the client’s own doctor if preferable
- Price matching - we believe our proposition offers exceptional value, but we appreciate that price can also be a consideration on HNW cases so if needed, we can try to match a competitor’s premium on a like-for-like product
Private Clients service
Cases which qualify for our Private Clients service will receive a personalised approach tailored to your and your clients’ individual needs:
| Criteria | Cases over |
|---|---|
| Premium | £1,000 monthly or £12,000 yearly |
| Life Cover | £5 million |
| Critical Illness | £1.5 million |
| Income Protection | £150,000 yearly |
Benefits of Private Clients service
In addition to those available with our large case underwriting service:
- Dedicated support from a Private Clients sales consultant, underwriter and case handler
- Prioritised medical screening - if a medical or nurse screening examination is required we will fast-track these for your client
- Access to private medical clinics in Harley Street (London) if desirable
- ‘Concierge’ service - you’ll receive regular status updates and targeted chasing of GP reports to ensure the shortest possible time to issue
- Dedicated customer service team for post-issue servicing queries
Underwriting and capacity limits
Medical underwriting limits
A guide explaining the age/sum assured limits over which a medical and/or a GP report (GPR) will be required is available:
Financial underwriting limits
We have high limits before we will need to ask for any financial information:
| Financial limits | Financial questionnaire | Financial questionnaire plus evidence |
|---|---|---|
| Life cover (SL/JLFD) | £2 million | £3.5 million |
| Life cover (JLSD) | £2 million | £5 million |
| Critical Illness | £800,000 | £1.5 million |
| Income Protection | N/A | N/A |
We can be flexible regarding what type of evidence is needed, and your underwriter will work with you to explain what we can accept.
Sum assured limits
We have high reinsurance capacities available and work closely with reinsurers to help find solutions for your clients:
| Product | Max sum assured |
|---|---|
| Level term | £42 million* |
| Convertible term | £5 million |
| Whole of Life | £42 million |
| Critical Illness | £5 million |
| Income Protection | £240,000 yearly |
*Cover over £30m will be subject to a capacity check with our reinsurers and may require bespoke pricing. Your Private Clients sales consultant will arrange this for you where necessary.
Capacities quoted are per life, and can be reduced depending on age, indexation rate, term (for indexed cases) and rating/exclusions.
Where your client needs more cover than we can offer, your Private Clients sales consultant can help you source the additional capacity required elsewhere.
