Zurich Life Insurance Review

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

Compare key features of Zurich life insurance and get a quote today

Latest deals from Zurich Ezicover Life Insurance

Deal

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.

Get deal

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.

• What additional benefits are available?

  Additional benefits available on Zurich Protection Plus plans include:

  • Premium waiver option. You don't have to pay premiums if you're disabled and cannot work.

Find out more about Zurich's main policy options

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

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Maximum Cover

$1,500,000

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TPD Cover

No

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Trauma Cover

No

NobleOak Life Insurance

1st place in Finder Awards

Get Quote

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Maximum Cover

$25,000,000

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TPD Cover

Yes

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Trauma Cover

Yes

TAL Accelerated Protection Life Insurance

2nd place in Finder Awards

Get Quote

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Maximum Cover

No set limit

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TPD Cover

Yes

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Trauma Cover

Yes

Full methodology on how we chose the winners

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:

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.

• Ezicover Life Insurance
• Ezicover Income Protection

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

We're free

You pay the same as buying directly from the insurer. We make money from referral fees when you choose a policy, but you don't pay any extra.

We're experts

Our team of income protection experts have researched and rated dozens of policies as part of our Finder Awards and published 80+ guides.

We're independent

Unlike other comparison sites, we're not owned by an insurer. Our opinions are our own and all guides must meet our editorial standards.

We're here to help

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

Questions you've asked about Zurich, answered ✅

• How do I make a claim with Zurich?

  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. You'll then need to fill in a claim form and return it to the insurer along with any medical certificates or other supporting documents required.

  Once Zurich's Claims Team receives your claim form they will contact you within 24 to 48 hours.

• Will my Zurich life insurance premiums go up each year as I get older?

  This depends on whether you choose stepped or level premiums. Level premiums do not increase as you age, while stepped premiums increase at each policy anniversary based on your age. However, it's worth mentioning that level premiums will also increase due to policy fee changes, rate increases and indexation.

• Will I need to undergo a medical examination before purchasing Zurich life insurance?

  No medical test is required if you buy a Zurich Ezicover direct life insurance policy. However, medical tests may be required for other policies.

• How do I adjust my level of Zurich life insurance cover?

  You can change your level of cover at any time by phoning Zurich Australia on 1800 394 268.

• I have a pre-existing medical condition – will I still be able to get Zurich life insurance?

  That depends on the condition. You have a responsibility to disclose full details of your condition to the insurer so that Zurich can decide whether or not to provide you with cover.

  Some conditions are automatically covered while others may require additional medical information and may lead to a higher premium. Certain conditions will be excluded.

• Is Zurich Australia a reputable, established insurer?

  Yes. Zurich Australia can trace its roots back to the 1920 founding of the Commonwealth General Assurance Corporation in New South Wales. It was acquired by the worldwide Zurich Insurance Group in 1961 and today employs more than 1,000 people across Australia and New Zealand.

  Zurich Insurance Group is a multi-line insurer that offers a wide range of insurance products and services in over 210 countries and territories.

• Does Zurich life insurance cover me overseas?

  Yes. You can enjoy worldwide cover 365 days a year.

• How often do I need to pay my Zurich life insurance premiums?

  Premiums can be paid on a monthly, quarterly, half-yearly or yearly basis.