Zurich Life Insurance

zurich-logo (1).jpg

We search all of the Life cover providers including Zurich Life Insurance in the UK to find the best protection for families. We compare Life Insurance quotes for all of our customers. Zurich Life Insurance have been providing Life protection across the globe for many decades. Within the Zurich Life Insurance Guide we look into who they are and how they may be the best Life Insurer for you:

Who Are Zurich Life Insurance?

Zurich Life Insurance Policy Types:

The Cost Of Zurich Life Insurance

Life Insurance Benefits From Zurich

Making A Claim With Zurich

Compare Zurich Life Insurance Quotes

Who Are Zurich Life Insurance.jpg

Who Are Zurich Life Insurance?

Zurich life insurance is part of the wider Zurich Insurance Group. It first entered the UK insurance market in 1922 offering direct accident business. By 1955 Zurich had become a one stop shop for all insurance products. Their global headquarters is based in Zurich, Switzerland and the international company serves customers in more than 170 countries.  They offer an extensive range of protection products. Including car, home, property, pensions, savings/investments and the subject of today’s guide Life Insurance. But will Zurich be the best Life Insurer for you?

Zurich Life Insurance Policy Types:

There are various Zurich life insurance policies available. Ranging from term cover to whole of life, with protection starting from £5 a month

Term Life Insurance

Mortgage Life Insurance

Over 50s Life Insurance

Whole of Life Insurance

Joint Life Insurance

Life Insurance With Critical Illness Cover

Life Insurance & Terminal Illness Cover

Level Term Life Cover

A Level term life insurance policy provides your family and loved ones with a fixed pay out sum. If you were to pass away during the defined policy length. You continue to make monthly premium payments throughout the length of your policy and if you pass away before the end of the term, your loved ones receive a fixed payment from Zurich.

Because the potential claim payment sum remains the same in value throughout the policy. It is an ideal policy type for covering fixed costs like a interest-only mortgage. Or providing an inheritance for your family or beneficiaries.

Life Insurance Cover can help you to arrange the right level term protection for you. Simply apply today and let us compare Zurich Life Insurance and many others for you.

Increasing Term Life Insurance

A Zurich Increasing Term Life Insurance Policy can help to prevent your family and loved ones from experiencing the negative effects of inflation. Including the increased cost of living when they receive a claim payment. Once you choose to have an Increasing Term Policy from Zurich. The rate will be agreed with you and the increase will be reviewed annually. You are able to choose the increase percentage by 3%, 5% or in line with Retail Prices Index (max 10%).

A monthly premium for Increasing Term Life Insurance goes up by 1.5% for every 1% increase in cover. This is because the potential risk to the insurer increases as you get older. However it is worth noting that Zurich offers the flexibility to change the policy to Level Term Cover at any point. This is especially important if the monthly premium costs become unsustainable.

Decreasing Term Life Insurance

A Decreasing Term Life Insurance from Zurich will provide a one-off lump sum pay out to your family if you were to pass away during the policy term. The potential amount they might receive will reduce over the term of the policy, but the monthly premiums will remain the same. A Decreasing policy type is a relatively cheap way to protect a repayment mortgage with an average premium cost per month of £8-£15 (£250,000 mortgage).

When deciding to purchase Zurich Decreasing Term Life Insurance you can choose a fixed interest rate between 2% and 18%. You can also choose a higher rate than your mortgage/loan interest rate.

Mortgage Life Insurance

Unfortunately Zurich do not offer a branded product for Mortgage Life Insurance. However because this cover type is either Level Term or Decreasing Term policies it is interchangeable. Mortgage Life Insurance Policy protection is determined by which mortgage type you have:

Interest Only Mortgage: Level Term Life Insurance, this is because the amount of capital on your mortgage does not reduce. Which may leave your loved ones exposed to a higher level of risk if you were to pass away.

Repayment Type Mortgage: Decreasing Term Life Insurance, as the interest and capital on your mortgage reduces over time. The required level of protection also reduces, meaning the potential risk you pose to the Life Insurer reduces.

Over 50’s Life Insurance

An over 50’s life insurance policy provides guaranteed acceptance for UK residents aged 50-85 without the need to provide any medical details. This policy type is ideal for anyone who may experience abnormally high premiums due to poor health. Due to the lack of medical details needed for this policy type, the premium cost per month will likely be higher than a normal Life Insurance Policy.

Unfortunately, Zurich do not offer over 50’s life cover. However, at Life Insurance Cover we search all of the UK Life Insurance Companies and can find the best cover for Over 50’s Life Insurance for you.

If this is the type of cover you require, simply get in touch and we can help you secure the best possible deal.

Whole Of Life Cover

A Whole of Life insurance policy offers protection for the rest of your life. This means that a guaranteed claim payment will be made to your family and loved ones after you're gone. You will need to make monthly premium payments for as long as you live. Another benefit of a Whole Of Life Policy is there is no upper age limit at which a claim can be made. However, depending on when you purchase a policy. It is possible to pay more into a whole of life insurance policy than the overall sum assured.

If you decide to take out a Whole Of Life Insurance Policy earlier in life or when in particularly good health. The likelihood of paying more into your policy than could be received by your family increases.

Unlike many other providers, Zurich offers the ability to purchase a whole of life insurance policy on a joint basis. This means two people will be protected simultaneously, which can save on average 25% compared with paying for two single policies.

However it is important to remember a Life Insurance policy can only pay-out once, usually it is the first death is covered. Which could leave the surviving partner uninsured and needing to try and arrange new life cover at an older age. With a Zurich Whole Of Life Insurance Policy it possible to select whether or not this pay-out is made on the first or second death.

Joint Zurich Life Insurance

When arranging Life Insurance Cover with either Zurich life insurance or any other provider it is possible to cover two people simultaneously with one policy. Many of the UK Life Insurance providers are able to offer Joint Life Insurance protection and whilst this can save you on average 25%.

There is however a couple of drawbacks in a Joint Life Insurance policy, the most important is that it will only cover one death. This could either leave the surviving partner unprotected and needing to secure new cover at an older age. Or potentially require them to find the funds to cover financial loss of the first death.

Unlike most joint life insurance policies, if you were to separate, Zurich Life Insurance presents you with the opportunity to split it into two new separate policies without the need to provide further personal information.

At Life Insurance Cover we can help you find the best Life protection for you and your family’s individual needs.

Life Insurance With Critical Illness Cover.jpg

Life Insurance With Critical Illness Cover

It's possible to add Critical Illness Cover to a Zurich life insurance. This means that if you were diagnosed with a serious, yet non-life-threatening illness, you can make a claim. This covers you for 40 conditions, including cancer, heart attack, stroke and many other conditions. A claim payment can then be used to make necessary adaptations to your home. Cover a lost income or simply enjoy with your family.

It is extremely important to remember that if you make a claim for a critical illness against your combined Life and Critical Illness policy. Which is subsequently paid to you for the Critical Illness part of your policy. Your cover will cease and no further payment after you have passed away. This is because a Life Insurance policy or a Life Insurance Policy with Critical Illness Cover can only make a claim payment once. Furthermore, Zurich critical illness cover will extend to your children for the value of £25,000 or 50% of the overall lump sum if they're diagnosed with a critical illness.

Life Insurance & Terminal Illness Cover

Similar to many of the Life Insurance policies provided from all of the UK Life Insurance providers, which are arranged through Life Insurance Cover. Which also includes Zurich Life Insurance come with terminal illness cover as standard.

This means that if you were to be diagnosed with a terminal illness and given less than 12 months to live. You would be able to make a claim against your policy to help you and your family. How you wish to use the payment is entirely up to you. It could be used to get your financial affairs in order, fund private medical treatment or simply to enjoy with your family and loved ones.

The Cost Of Zurich Life Insurance

All UK Life Insurance providers calculate the monthly cost of your premium in slightly different ways. Most key factors for creating a Life Insurance Quote include the amount of protection you need, age, lifestyle, health and smoker status. This allows each provider including Zurich Life Insurance to work out the monthly cost of your premium.

Each Life Insurance Quote or policy is unique to the individual and the risk you may pose to the insurer in the future. If you are a slightly higher risk i.e. a smoker or have a medical condition, you may have to pay a slightly higher premium.

By using a broker like Life Insurance Cover, you are able to compare all of the UK providers of Life Cover for free. Offering peace of mind for you and your family by knowing that you have the right level of protection and within your budget.

Life Insurance In Trust

When you choose to obtain Life Insurance Protection either with Zurich or a different provider. It is possible to choose to place your Life Insurance in trust. This means that you sign the rights to your policy over to a trustee after you have passed away. The trustees will manage all payments to be made including to your family, loved ones or beneficiaries.  

The key benefits of placing your Life Cover in trust are:

Reducing inheritance tax

Avoiding the probate process

At Life Insurance Cover, we offer information and help with trust writing service for all customers who arrange cover through ourselves. We will guide you through the process, answering any questions you have, ensuring you get the best out of your Zurich life insurance.

Life Insurance Benefits From Zurich

Each Life Insurance provider has additional benefits, some which are similar or the same as each other. A Zurich Policyholder will have inclusive benefits at no additional cost and some that have a small add on price to your monthly premium. Each Zurich Life Insurance Policy includes:

Change Your Policy: As circumstances may change in life, like buying a home, having a baby. You may be able to increase the level of cover provided by Zurich without providing additional details about your health and lifestyle. However, if the level of cover is increased. The cost of the monthly premiums will also increase.

Separation Benefit: If you have taken out a Joint Life Insurance Policy and you separate or divorce your partner. You are able to cancel your existing policy and start individual policies for one or both of you, without the need to provide any further medical information.

Additional Benefits From Zurich

Children’s Benefit: This benefit can only be added to Life Cover and Critical Illness Cover Policy. It will offer protection for up to £25,000 if your child is diagnosed with one of the 40 conditions that you are covered for. This add on product has a small monthly cost

Mutli-Fracture Cover: By adding multi-fracture cover, Zurich will pay a lump sum to you limited to £6000 if you break a bone, dislocate a joint, rupture your Achilles or tear a knee ligament. This add on product has a small added premium per month. Multi-fracture cover is available on both Life Cover and a Life Cover and critical illness policy.

Zurich Support Service

After you have passed away, your family and loved ones will be provided further help from an independent support service working closely with Zurich. This can be used to help overcome emotional issues, such as dealing with grief. Or more practical issues, such as financial worries. The helpline is available 24/7 and one-to-one counselling can be offered for up to 6 sessions, (if required).

Protecting Families & The Environment

For each and every customer who buys a Life Insurance policy with Zurich, Tree-Nation will plant one new tree to help protect the environment. Helping to reduce the carbon build up globally.

Children’s Conversion Benefit

When having a critical illness element added to your Zurich life insurance plan. It allows your children to arrange their own life insurance and critical illness cover between the ages of 16-22. Without the need for providing any personal information.

Making A Claim With Zurich

When the time comes for your family or beneficiaries to make a claim against your Life Insurance Policy. Zurich have made claims process as simple as possible, initially your family should contact them by using their contact details.

Contact The Claims team at Zurich by:

Telephone: 0370 243 0827

Email: Bereavements.Zurich@uk.zurich.com

By letter: Zurich Assurance Ltd, The Tri Centre, New Bridge Square, Swindon, SN1 1HN

Equally, if Life Insurance Cover had initially arranged your protection policy, feel free to contact our customer service team and we will help your family with submitting a claim.

Zurich Life Insurance Claim Statistics

In 2019, Zurich paid out 99% of all claims made against life insurance policies and 90% of all Critical Illness Claims. This should offer peace of mind for you and your family for the future, if the likelihood of your loved ones filing a successful claim is of concern.

However, the industry-standard does highlight that many other Life Insurance providers also offer a very high pay out percentage. This standard has increased over many years as Life Insurance providers improve their availability and coverage.

To ensure you get the right cover to meet your unique needs, it's important to consider more than just the likelihood of claim settlement alone.  At Life Insurance Cover, we can compare all of the UKs Life insurers for you. Helping to give you all the information you need to make an informed decision on the best protection for you and your family.

Compare Zurich Life Insurance Quotes.jpg

Compare Zurich Life Insurance Quotes

Life insurance policies can vary in cost, depending on the policy type and personal circumstances. Therefore, to ensure you receive the best deal, it's important to compare quotes from Zurich amongst other insurers. At Life Insurance Cover, we do the searching for you. Get in touch to start your journey towards securing your loved one's financial future.

It’s simple with no obligation to take out life insurance. Fill in the quick 30 second form and we do all the work for you. Cover begins from just £5 a month.*

With quotes from major UK companies you can be sure to find the right cover for. Our service is free to make it as easy as possible for you. Simply fill in the quick form now to get Zurich life insurance quotes. Our website uses the latest encryption to keep your quote safe and secure at all times.