Find out what one of the largest insurers in the world offers in it's life insurance cover.
Zurich Life Insurance is delivered by the Australian arm of the global Zurich Financial Services Group. This connection with Australia dates back to 1920 when the Commonwealth General Assurance Corporation (CGA) began operating in New South Wales. CGA was acquired by the Zurich Financial Services Group in 1961 and rebranded as Zurich Financial Services Australia Limited, otherwise known as Zurich Australia. Zurich Financial Services is an insurance based financial services provider that operates world wide.
|Maximum cover amount||$1,500,000|
|Age of entry||19-69|
|Types of cover offered|
|How do I apply?||Online with the Zurich or with an adviser over the phone|
Age of entry and maximum life insurance insured based on Zurich Protection Plus plan.
Note: Conditions apply, always consult the Product Disclosure Statement (PDS)
- Best Featured Income Protection Insurance 2016, Money Magazine Best of The Best
If you’d like to purchase a Zurich life insurance policy, you can enter your details and cover needs in the quote form at the top of this page. Once you’ve received a quote you can follow the necessary prompts to buy a policy.
Zurich Ezicover insurance can be purchased online or by calling 1800 394 268.
All other Zurich policies must be purchased through a financial adviser. The insurer offers a free service to help you connect with an adviser. All you need to do is phone 1800 813 710 or email email@example.com
Features of protection plans from Zurich
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.
- Premium freeze: This lets you freeze your premium amount by reducing your cover.
- Interim cover: Puts a level of cover in place as soon as you apply.
Policies offered by Zurich
- Protection Plus Life Insurance
- Protection Plus TPD Cover
- Protection Plus Trauma Cover
- Income Protector
- Superannuation Term Life Plus
Zurich Protection Plus Life Insurance pays a lump sum on your death or diagnosis of terminal illness. It can help your family repay debts and provides an adequate income to help your dependents manage their day-to-day living expenses.
Standard built-in features of Zurich Protection Plus Life Insurance include:
- Death benefit: This is a lump sum payment to your family on your death.
- Terminal illness benefit: An advance payment of the death benefit if you are diagnosed with a terminal illness.
- Accidental injury benefit: This is an advanced payment of the death benefit you will receive if you suffer a specific injury, such as the loss of the use of a hand or foot or the loss of sight in one eye.
- Advancement for funeral expenses: While a death claim is being settled, Zurich may advance a portion of the death benefit (up to $15,000) to help cover funeral expenses.
- Buy back death benefit (TPD): This benefit allows you to reinstate life insurance following a TPD claim, and only applies if you have purchased life insurance and TPD Cover.
- Buy back death benefit (Trauma): This allows you to reinstate life insurance following a Trauma claim, but is only available if you have purchased life insurance and Trauma Cover.
- Future insurability benefit (business): This lets you increase your cover without underwriting at certain times, such as if your financial interest in your business increases.
Life insurance from Zurich Protection Plus also includes the following extra-cost option:
- Accelerated buy back death option: This allows early reinstatement of life insurance following a Trauma claim.
Zurich Protection Plus Total and Permanent Disablement (TPD) Cover pays a lump sum if you become totally and permanently disabled and are unlikely to ever work again. TPD Cover is all about maintaining your quality of life, including funding your care and helping to repay any debts you may have.
Zurich Protection Plus TPD Cover includes the following standard features:
- TPD benefit: This is a lump sum payment if you suffer total and permanent disablement and, as a result of this, you are unlikely to ever work again.
- Partial TPD benefit: This is an advance payment of the TPD benefit if you suffer a specific injury, such as the permanent loss of the use of a hand or foot.
TPD Cover from Zurich Protection Plus also includes the following extra-cost options:
- Double TPD option: This means life insurance can be reinstated following a TPD claim.
- Buy back TPD option: This benefit means TPD Cover can be reinstated after a Trauma claim.
Zurich Protection Plus Trauma Cover pays out a lump sum benefit when you are diagnosed with a specific illness or suffer a particular injury or illness, such as cancer, heart attack and stroke. This type of cover can help pay for unexpected medical costs, provide for lifestyle changes and professional care, as well as help you repay debts.
Basic Trauma Cover from Zurich Protection Plus includes the following benefits:
- Trauma benefit: A lump sum payment on the diagnosis or occurrence of 12 injuries and illnesses. These include heart attack, stroke, cancer, paraplegia, quadriplegia and major organ transplant.
- Funeral benefit: Zurich will pay a benefit of $5000 of you die but do not meet the requirements for a trauma benefit. This only applies if life insurance has not been purchased.
- Paralysis booster benefit: This doubles the benefit payable in the event of paralysis.
Extended Trauma Cover from Zurich Protection Plus also includes the funeral benefit and the paralysis booster benefit, plus these additional features:
- Trauma benefit: On the Extended Trauma Cover Plan, this benefit will be paid on the diagnosis or occurrence of 42 injuries and illnesses. On top of those trauma events covered in a Basic plan, this also includes things like severe burns, a severe accident or illness requiring intensive care, and bacterial meningitis.
- Partial trauma benefit: This benefit provides cover for 10 additional events, as long as your Extended trauma benefit amount is $100,000 or more. The list of events covered includes early stage melanoma, early stage prostate cancer, and the single loss of limb or eye.
Extended Trauma Cover is also available with the following extra-cost features:
- Trauma reinstatement option: This option lets you reinstate Trauma Cover following a Trauma or Partial Trauma claim.
- Double trauma option: This means life insurance can be reinstated following a Trauma claim. This is only available if you select life insurance as well.
- Top-up option: This increases the partial trauma benefits payable.
Zurich Income Protector cover provides a monthly payment of up to 75% of your pre-tax income if you are unable to work due to sickness or injury. This type of cover is designed to help you continue to provide for your family and cover ongoing expenses until you get back on your feet.
- Income benefit: This provides a monthly payment of you are sick or injured and unable to work.
- Choice of agreed value or indemnity cover.
- Waiver of premium: You won’t have to pay your insurance premiums while you are receiving a monthly benefit payment.
- Recurrent disability: This means no waiting period applies if your disability recurs from the same cause within 12 months of you returning to work. This will be treated as a continuation of your claim.
- Concurrent disability: If more than one sickness or injury caused your disability, your benefit payments will be based on the condition that attracts the highest benefits.
- Special care benefit. This provides family assistance, personal attendant, accommodation and relocation benefits.
A range of additional options can also be added to the Income Protector
- Increasing claims option: Your benefits can increase quarterly while on claim.
- Super contributions option: This provides cover for your regular super contributions.
- Business expenses option: This provides cover for the fixed expenses of running your business.
- Lump sum accident option. A lump sum is payable if you suffer a specified injury.
- Day 4 accident option: You can receive benefits in the waiting period if you are disabled due to an accident.
Zurich Superannuation Term Life Plus is classed as a risk-only superannuation product. It gives you an interest in the Zurich Master Superannuation Fund, plus a life insurance policy
issued by Zurich Australia Limited.
Some of the standard built-in benefits of Zurich Superannuation Term Life Plus include:
- Death benefit. Your family will receive a lump sum payment if you die.
- Terminal illness benefit. An advance payment of the death benefit if you are diagnosed with a terminal illness.
- Advancement for funeral expenses. While a death claim is being settled, Zurich may advance a portion of the death benefit (up to $15,000) to help cover funeral expenses.
- Financial planning advice benefit. Reimburses the cost of financial planning.
A range of extra-cost optional benefits are also available:
- Premium waiver option: You don’t have to pay premiums if you’re disabled and cannot work.
- Accidental death option: Extra cover for accidental death.
- Business future cover option: Increases your cover each year without the need to provide health information.
Can I cover directly through Zurich EziCover without using an adviser
You can also purchase life insurance through Zurich EziCover. Rather than being sold through financial advisers, as per Zurich Protection Plus, EziCover is Zurich’s DIY online range of insurance products. The EziCover options are designed to be easy to understand, affordable, and simple to apply for.
Zurich Ezicover offers four policies to help provide financial security for you and your family:
- EziCover Life Insurance: This policy offers a lump sum payment of up to $1.5 million on your death or diagnosis of terminal illness.
- EziCover Accidental Death Insurance: This policy pays a lump sum benefit of up to $500,000 in the event of your accidental death.
- EziCover Income Protection: This policy pays out a monthly benefit for a period of up to 12 months if you are unable to work due to accidental injury.
- EziCover Funeral Advantage Insurance: This pays out up to $15,000 on your death to help your family and loved ones cope with your funeral expenses.
How much will it cost?
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
- Whether you choose direct life insurance or advised life insurance
- Your occupation and pastimes
- Your health and smoking status
For a more accurate idea of how much cover will cost, apply for a quote today.
How do I lodge a claim?
If you or your beneficiaries need to make a claim on your Zurich life insurance policy, you’ll need to call Zurich as soon as possible on 131 551. Once you’ve notified Zurich of your claim, you’ll need to fill in a claim form and return it to the insurer along with any medical certificates or other supporting documents required.
Completed claim forms can be submitted in the following ways:
Zurich Financial Services Australia
Locked Bag 994
North Sydney, NSW 2059
Fax: 02 9995 3732
Once the Zurich’s Claims Team receives your claim form they will contact you within 24 to 48 hours.
If you are overseas
Phone: +61 2 9995 3777