Zurich Life Insurance Review April 2021 | Pros and Cons | Finder

Zurich Life Insurance

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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


Maximum Entry Age


Terminal Illness Benefit

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Product NameZurich Ezicover Life Insurance
Maximum Cover $1,500,000
Funeral Benefit $15,000
Guaranteed Renewability
Online application
Cooling-off (days)30

Note: Zurich also owns the life insurance business of ANZ, One Path (Acquired in 2017) and Macquarie Life Insurance (Acquired in 2016).

Latest deals from Zurich Ezicover Life Insurance

Zurich Ezicover DealsZurich Ezicover Deals

One month free

Get the first month free and a 10% discount if you take out a second life insurance policy (discount applies to second policy). T&C’s apply.

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Name Product Maximum Cover Maximum Entry Age Fully Underwritten? Terminal Illness Benefit Optional Extras
Zurich Ezicover Life Insurance
No optional
Get the first month free and a 10% discount if you take out a second life insurance policy (discount applies to second policy). T&C’s apply.

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Maximum cover amount$1,500,000
Age of entry19-69
Types of cover offered
  • Wealth Protection
  • Active
  • Sumo
  • Ezicover (do-it-yourself cover)
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.

  • Cover available can be tailored with the help of an adviser or bought online with Zurich
  • Standard premium rates are not guaranteed (for all policyholders).
  • Wide range of cover types to suit different needs
  • Management fee on increases with how often you pay e.g. monthly.
  • Has acquired Macquarie Life Insurance and their range of life insurance products to provide more options

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

  • Best Featured Income Protection Insurance 2016, Money Magazine Best of The Best

At the 2015 Direct Life Insurance Excellence Awards, run by Plan for Life Actuaries and Researches, Zurich won several categories, including:

  • Best Term Life Insurance
  • Best Funeral Insurance (level premiums)
  • Overall Excellence
  • Customer Service

You can get a direct quote for Zurich Ezicover life insurance by selecting "get quote" in the first form above.

For all other Zurich policies, fill out your details in the second form and a Zurich financial advisor will contact you free of charge and help you build your ideal cover.

You can also contact Zurich yourself using the following details:

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 business, large companies and multinational corporations.

What are the key features offered by Zurich Protection?

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.

What are some of the key exclusions?

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

In addition, no benefit will be paid if death occurs as a result of any condition specifically excluded from cover. Conditions may be excluded from cover based on the answers you give during the application process.

Your Ezicover Accidental Death policy will not pay any benefit if death occurs as a result of:

  • War, civil commotion or insurrection
  • Any form of aerial ascent or descent, or any form of air travel (other than as a fare-paying passenger)
  • Participation in or training for speed contests or professional sports
  • Suicide
  • Any intentional or deliberate act or omission
  • The misuse of alcohol or drugs
  • Your participation in a criminal act

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

  • A mental health disorder
  • 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)
  • Cancer, stroke or heart attack in the first 90 days of cover
  • Sickness or injury resulting from elective or donor transplant surgery within six months of cover starting
  • 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

Finally, if you have Ezicover Funeral Advantage Insurance, no benefit will be paid if the life insured’s death is caused by suicide within 12 months of cover starting or being reinstated.

Different types of policies offered by Zurich

Zurich offers cover through it's adviser network as well as off-the-shelf on it's online channels.

Adviser policies

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.

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.

The Platinum Trauma Insurance option offers similar cover but with higher partial benefit amounts for certain conditions.

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.

Direct policies

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 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.

Does Zurich have any rewards programs included with its cover?

Zurich rewards its loyal customers by providing a number of ways to save on your policy each year. These include:

  • Management fee waiver. If you apply for more than one policy at the same time, the standard management fee on one of those policies is waived.
  • 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 7.5%.
  • Family discount. When members of the same family take out life insurance from Zurich, the insurer offers a premium discount that increases based on the number of family members that take out cover. The maximum discount available is 10%.
  • Business discount. A loyalty discount also applies when employees or partners in the same business take out cover through Zurich. The size of the discount increases based on the number of employees that take out cover, and the maximum discount available is 10%.

How much will it 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 $38.66 per month.

Quote was generated on 29 June 2020 for a 37 year old non-smoking male in NSW.

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
  • 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:

By mail:

Zurich Financial Services Australia
Claims Department
Locked Bag 994
North Sydney, NSW 2059

By fax:

Fax: 02 9995 3732

By email:


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

Frequently asked questions

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    Default Gravatar
    April 10, 2017

    I am currently residing in UAE, need a family cover or life insurance. We are Australian Citizens

      Avatarfinder Customer Care
      April 11, 2017

      Hi Nitin,

      Thank you for your question.

      You have contacted finder.com.au, a comparison and information service and not actually Zurich Life Insurance.

      You will need to contact Zurich Life Insurance directly to see if they provide cover for Australian expats. However, there are some terms and conditions applies to get a cover as an Australian expat. You may find our life insurance for Australian expats guide helpful.

      All the best,

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