Zurich Life Insurance

Zurich Financial Services Australia (Zurich Australia) is a member of the Swiss-based worldwide Zurich Insurance Group. Zurich Australia’s Life Risk business provides choice and flexibility through a suite of award-winning business and personal life risk solutions; these include Life Insurance, Trauma Insurance, and Disability Insurance.

Zurich is able to draw on its global strength to provide exceptional service and outstanding value, as well as innovative, customer-friendly products.  As one of the longest-standing independent players in the Australian life market, Zurich Australia remains committed to working in partnership with independent financial advisers.

Zurich at a glance

• The company, founded in 1872, is headquartered in Zurich, Switzerland.
• 2016 saw Zurich pay more than $140 million in life insurance claims.

Which products does Zurich offer?

Zurich offers a wide range of wealth protection products. In particular, Zurich Protection Plus is a flexible package that can be combined with Zurich’s range of products to suit your needs and budget.

Death Cover. If you die or are diagnosed with a terminal illness, you are provided with a lump sum payment.

Some key benefits of death cover may include (depending on your plan’s PDS):

• Death & Terminal Illness Benefit, where a lump sum payment is made if you pass away or are diagnosed with a terminal illness.
• Accidental Injury Benefit, where if you suffer a specified accidental injury, like the loss of use of a hand or foot, you receive an advance payment of part or all of the Death Benefit.
• Advancement for Funeral Expenses, where an advance payment of $15,000 is made towards funeral costs.

Total and Permanent Disablement (TPD). If you suffer permanent disability, you are provided with a lump sum payment to cover extra expenses associated with being disabled, or to help your family maintain their current lifestyle without your income.

Some key benefits of TPD cover may include (depending on your plan’s PDS):

• TPD Benefit, which pays a lump sum TPD benefit if you suffer a permanent disability that meets the TPD definition, as per your policy’s PDS.
• TPD Advancement Benefit, which advances a small portion of the TPD sum insured if you suffer a partial loss of limbs or loss of sight.
• Partial Impairment Benefit, which pays part of the TPD sum insured if you suffer functional impairment of two or three extended activities of daily living, as outlined in your policy’s PDS.

Trauma Cover. A lump sum payment is provided if you suffer a trauma condition as specified in the policy’s Product Disclosure Statement (PDS).

Some key benefits of trauma cover may include (depending on your plan’s PDS):

• Trauma Benefit, where a lump sum is payable on the diagnosis/occurrence of a range of covered conditions, as per your policy’s PDS.
• Partial Trauma Benefit, where a partial advance payment for 12 conditions is payable. Payment amounts vary, depending on your level of cover selected.
• Paralysis Booster Benefit, which doubles the benefit payable for paralysis (up to a maximum of $2,000,000).
• Funeral Benefit, which is a payment of $5,000 on death.
• Financial Planning Advice, which provides up to $3,000 to reimburse the cost of advice.

Zurich Child Cover. This cover offers a lump sum payment if the insured child suffers one of the insured conditions, including death and terminal illness.

Zurich Income Protector. A monthly benefit is provided if you can’t work because of an illness or injury and you are totally disabled or partially disabled for (typically) longer than the specified waiting period. This contributes towards a replacement income so you can concentrate on your recovery without having to worry about how you will pay ongoing expenses.

Some key benefits may include (depending on your plan’s PDS):

• Total Disability Benefit, where a benefit is payable if you are totally disabled after you’ve served the waiting period.
• Partial Disability Benefit, where a portion of the Total Disability Benefit is payable if you are partially disabled after serving the waiting period, based on your pre-disability income and post-disability income.
• Rehabilitation Benefit, where extra benefits are payable to help you return to work sooner, including reimbursement for approved workplace modifications and other approved expenses.
• Funeral Benefit, where a lump sum four times the insured monthly benefit is payable if you pass away during the claim to ease immediate expenses.

Zurich Business Expenses. A monthly benefit, which can help cover business expenses if you are unable to work due to sickness or injury. Depending on the cover, this can include cover for fixed expenses or key person replacement.

Some key benefits may include (depending on your plan’s PDS):

• Ongoing Fixed Expenses, where the benefit is payable based on the allowable business expenses incurred each month by you up to a maximum of the insured monthly benefit for items like rent on business premises, electricity rates, etc.
• Key Person Replacement, where a benefit is payable based on the key person replacement costs incurred each month to replace you within the business up to a maximum of the insured monthly benefit.
• Funeral Benefit, where a lump sum of four times the insured monthly benefit is paid to help with immediate expenses if you pass away.

This information is a guide only. For further information on benefits, features, limits, terms, and conditions, please carefully read the Product Disclosure Statement (PDS). Always read the PDS for each policy before making a decision to buy.

Why choose Zurich?

The Zurich Insurance Group is one of the world’s leading multi-line insurers. This global strength offers customers real peace of mind. Zurich has a long demonstrated commitment to providing customers quality products that represent excellent value for money.

Compare a range of life insurance policies today to find cover that suits your needs and budget. In just a few minutes, you can compare multiple covers in the same place, rather than visiting different websites. This means you can spend time on the things that matter most to you.