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Zurich Life Insurance Review

Zurich Life Insurance offers no-fuss life cover that could meet the needs of most Aussies. But this trusted insurer doesn’t offer any of the bigger policy add-ons.

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Our verdict

  • Your family could have 2 chances to save on its insurance: Your first month is free and, by taking out a second life policy, you can get a 10% discount on that policy.
  • Zurich offers premium suspension cover of up to 12 months to help you if you're struggling financially. Most insurers don't offer this.
  • A $15,000 payout for funeral costs is competitive.
  • Zurich doesn't offer TPD cover or trauma cover.
  • The maximum cover limit of $1,500,000 might not be enough for those who are seeking a premium rate of cover.
  • Policies aren't fully underwritten.

Maximum Cover

$1,500,000

Maximum Age

69

Total & Permanent Disability Cover

Trauma Cover

finder.com.au does not currently have access to this life insurance brand. You may wish to compare options available on the life insurance homepage.

What are the key features offered by Zurich Protection Plus?

All Zurich Protection Plus plans come with the following standard built-in benefits:

  • Inflation protection. Your cover will increase annually in line with the Consumer Price Index.
  • Future insurability benefit. Increase cover without underwriting at certain times.
  • Financial planning advice benefit. Reimburses the cost of financial planning.
  • Interim cover. Puts a level of cover in place as soon as you apply.
  • Future insurability. You can increase your death, TPD or trauma cover if a life event happens, for example marriage or kids, without a health assessment. The same applies for businesses, if certain business events occur, death cover can be increased.
  • Financial advice. Get up to $1,000 of financial advice reimbursed after a claim payment is made.
  • Cover suspension. You can put your cover on hold for a specific period, up to 12 months in total. During this hold, you'll have no cover and no claims can be made.

Find out more about Zurich's main policy options

life insurance icon

Direct life insurance

Key features of Zurich direct life insurance policies

You can purchase life insurance directly through Zurich EziCover. The EziCover options are designed to be easy to understand, affordable and simple to apply for.

Zurich Ezicover offers 2 core policies to help provide financial security for you and your family:

  • EziCover Life Insurance. This policy offers a lump sum payment of up to $1,500,000 on your death or diagnosis of terminal illness.
  • EziCover Income Protection. This policy pays out a monthly benefit for a period of up to 5 years if you are unable to work due to accidental injury.
Who is eligible?

To apply, you must be between 19 and 69 years of age, based in Australia as an Australian resident or in the process of applying for Australian residency. If you have pre-existing health conditions, you may not be eligible for cover.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

life insurance shield

Adviser policies

Key features of Zurich adviser policies

  • Zurich Income Safeguard. This provides you with a monthly benefit if you become disabled due to sickness or injury and can't work for longer than the waiting period.
  • Zurich Business Expenses. This can provide you with a monthly benefit to reimburse business expenses or key person replacement costs if the insured person becomes disabled.
  • Zurich Child Cover. This provides you with a lump sum if your child suffers a trauma condition covered by Zurich. It can also include a death, terminal illness and carer benefit.

Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.

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Cover perks

Zurich offers a number of rewards and savings including:

  • Multi-policy discount. This discount applies each year that you hold more than one life risk policy, or when you take out more than one type of standalone cover within the one policy. The maximum discount available is 10%.
  • COVID vaccination protection. Zurich life insurance customers who suffer a serious side effect from an approved vaccination before the end of 2021 are eligible for a one-off benefit of up to $50,000 - in addition to any standard payouts from a policy. Death or disability from a COVID infection is already covered by life insurers.

Compare Zurich with the other 2023 Life Insurance award winners

Finder's data and insights experts created a rating algorithm to compare 10 life insurance policies in Australia across pricing and key features. Our 2023 winners are:

Zurich Ezicover Life Insurance logo

Zurich Ezicover Life Insurance


Maximum Cover

$1,500,000


TPD Cover

No


Trauma Cover

No

TAL Accelerated Protection Life Insurance logo

TAL Accelerated Protection Life Insurance

2nd place in Finder Awards

Get Quote


Maximum Cover

No set limit


TPD Cover

Yes


Trauma Cover

Yes

Medibank Life Insurance logo

Medibank Life Insurance

Get Quote


Maximum Cover

$2,500,000


TPD Cover

Yes


Trauma Cover

Yes

How much does Zurich life insurance cost?

To give you a general idea of the cost, we generated a quote for Zurich Ezicover Life Insurance with $500,000 in cover. The policy was quoted at $42.53 per month.

Quote was generated on 05 October 2021 for a 37 year old non-smoking male in New South Wales.

These factors will affect your cost with Zurich

There are several factors that determine the cost of your Zurich life insurance cover, including:

  • Your age
  • Your gender
  • The type of cover you select
  • The level of cover you select

For a more accurate idea of how much cover will cost, apply for a quote today.

What are some of the key exclusions?

The exclusions vary depending on the type of cover you opt for. Below is a basic summary of what's excluded in some of its products.

Your Zurich Ezicover Life Insurance claim will not be paid if death occurs as a result of suicide within 13 months of:

  • The start date of cover
  • Any increase in cover (but only in respect of that increase)
  • Cover being reinstated

Your Ezicover Income Protection claim will not be paid if it arises due to:

  • An intentional self-inflicted act or attempted suicide
  • Uncomplicated pregnancy or childbirth
  • Unemployment not caused by sickness or injury
  • An act of war
  • Your use of illicit substances
  • You committing (or attempting to commit) a criminal act
    • You being incarcerated or lawfully detained
    • Elective surgery (unless you are disabled for a period of more than 90 days)
  • Events that occur outside Australia, if the Australian Government has advised against travel to that country
  • Any other exclusion agreed with you when you apply for cover

See how Zurich's claim acceptance rate stacks up against other life insurers

This is the percentage of claims a life insurer pays out. It's based on data from Australian Prudential Regulation Authority (APRA) covering the 12-month period from 1 July 2021 to 30 June 2022. Taken from 18 Australian life insurance underwriters (of direct policies).

More about Zurich Australia

Zurich Australia is part of the Zurich Insurance Group, a leading insurer that offers an extensive range of property and casualty, and life insurance products. Founded in Zurich, Switzerland, in 1872, the group now operates in more than 210 countries and territories around the world.

Zurich first arrived in Australia in 1961. It now employs more than 1,000 people throughout Australia and New Zealand and offers insurance to suit individuals, small businesses, large companies and multinational corporations.

Why you can trust Finder's income protection experts

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We're here to help

Since 2016, we've helped thousands of Australians find income protection by explaining your cover options, simply and clearly.

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