About Zurich Life Insurance
Zurich Life Insurance (known as “Zurich Financial Services” prior to 2012) was founded in 1872. Today it is one of the world’s top 100 largest public companies and also one of the world’s largest insurance groups. It employs around 55,000 people in just over 170 different countries, including approximately 11,000 in the UK.
For your peace of mind, Zurich Life Insurance in the UK is regulated by the Financial Conduct Authority (FCA).
Zurich Life Insurance’s life insurance options
The company offers:
This offers a single cash payment of the sum assured.
It pays out the sum over the whole term of the policy, so the figure you receive in the event of your death would be the same in the first or last year. It is typically associated with protecting interest-only type mortgages or families who simply wish to know they will receive a predictable larger sum in the event a claim is made.
Under this plan, you also have options to convert all of the life cover under the plan to a new plan, which will provide cover for the rest of your life (lifetime protection). You can also, if you wish, include the option to renew the plan at the end of the term for a further term;
This provides a lump sum but one that reduces over the term of the policy.
This typically is associated with protecting a standard repayment mortgage which has a reducing debt balance over time. Typically, this type of cover will cost less than level cover, although payments do stay the same over the term of the policy;
- life or earlier critical illness cover.
This pays out a cash sum not only if you die within the plan’s term but also if you’re diagnosed with a terminal illness that is expected to lead to your death within 12 months or if you’re diagnosed with a critical illness (definitions, terms and conditions will apply),
for an additional premium, this will pay out a monthly amount if you’re unable to work due to sickness. Qualifying conditions, terms and limits will apply;
This (increasing the amount of cover in line with a variable such as price index) is available as an option.
Critcal Illness Cover
- add this cover to the level life insurance plan and decreasing mortgage cover. It pays out a cash lump sum if you get one of a list of specified illnesses, covering 85 conditions such as cancer, heart attack and stroke;
- covers children between the ages of 3 months up until they are 18 (their 18th birthday). Up to a maximum of one claim per child can be made – this will not affect the benefit level as held by the policyholder.