Zurich Life Insurance

Written by: TJ Ryan

Zurich life insurance

Zurich Australia is a provider of life insurance, income protection insurance, business insurance, travel insurance, and credit insurance, as well as superannuation funds, investment products, and financial advice.

“Protect what’s precious to you.”

Policy Options: What Zurich Australia life insurance covers

The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product.  Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.

Life Insurance Policy

  • Financial protection for your loved ones if you die or become terminally ill.
  • Maximum sum insured varies depending on level of cover chosen
  • Paid in a lump sum.
  • Choose the level of cover you need: Ezicover Accidental Death ($50,000 up to $500,000), Ezicover Life ($50,000 up to $1.5 million), Superannuation Term Life Plus ($50,000 up to no maximum), or Protection Plus Life ($50,000 up to no maximum). Please note that these final two policies are adviser only, which are different from the “Ezicover” policies..

The features below are available for the adviser only policies…

  • Advance payment of up to $15,000 available to help with funeral expenses.
  • Advance payment in full available if you are diagnosed with a terminal illness with 12 months or less to live.
  • Covers up to $3,000 for the preparation of a written financial plan, when death benefit is paid.
  • Premium holiday of 3-12 months available for financial hardship.

Total and Permanent Disablement Policy

  • Benefit from a payment if you become totally and permanently disabled and are therefore unable to work.
  • Covers from $50,000 up to $5 million.
  • Paid in a lump sum that you can use for whatever you need.
  • Partial benefit paid if the Insured Person is partially and permanently disabled. (Please note though that partial TPD benefit is not available under Zurich Superannuation Term Life Plus or Zurich Superannuation Income Protector/Plus or when the policy is owned by an SMSF trustee or super platform trustee).
  • Choose the level of cover you need: Superannuation TPD, or Protection Plus TPD.
  • Covers up to $3,000 for the preparation of a written financial plan, when death benefit is paid.
  • Premium holiday of 3-12 months available for financial hardship.

Trauma and Critical Illness Policy

  • Benefit from a payment if you have a specified medical condition such as cancer, stroke, or heart attack.
  • Covers from $50,000 up to $2 million.
  • Paid in a lump sum.
  • Choose the level of cover you need: Basic trauma cover (12 covered conditions) or Extended trauma cover (42 covered conditions).
  • Up to $25,000 partial trauma benefit if you have one of 11 specified medical conditions such as angioplasty, loss of sight in one eye, or loss of one limb (Extended trauma only).
  • Covers up to $5,000 for funeral costs if you do not select death cover. (provided a Trauma benefit is not payable).
  • Covers up to $3,000 for the preparation of a written financial plan after a trauma benefit is paid.
  • Premium holiday of 3-12 months available for financial hardship.(Not available under platform).

Income Protection Policy

  • Provides you with a replacement income stream if you cannot work due to serious illness or injury.
  • Paid in an income stream of monthly payments.
  • No premium is charged while you are claiming benefits under this policy.

Business Expenses Policy

  • Pays certain business expenses to keep your business running while you can’t work due to sickness or injury.
  • Covers from $1,000/month, and the maximum will depend on individual circumstances.
  • Paid in an income stream of monthly payments.

Child Cover

  • Benefit from a payment if your child aged 2-17 years old suffers a specified Trauma event.
  • Covers from $10,000 up to $500,000.
  • Paid in a lump sum.

About Zurich Australia

Zurich Australia began in 1920 when the Commonwealth General Assurance Corporation was founded in NSW, and it became part of the Zurich Insurance Group in 1961. Today, they operate in over 170 countries, and employ more than 1,200 people in Australia alone.

A friendly, helpful, Australian-based staff member will take care of your claim, making a stressful time a little easier. Their average call-to-answer time is an amazing 13 seconds, and you speak to a real person right away, with no recorded menus. In 2012, Zurich Australia paid over $80 million in claims.

Zurich Australia was the proud winner of the CANSTAR award for Outstanding Value Life Insurance in 2015, 2014, 2013, 2012, 2011.

How Zurich Australia supports the community

  • Z Zurich Foundation: Donating to not-for-profit organisations and community projects around the world, focussing on sustainable disaster management, social and economic empowerment, and insurance literacy and risk management.
  • Young people: Zurich Australia funds The Smith Family’s ‘Learning For Life’ program to help young, disadvantaged Aussies get the most out of their education.
  • Volunteering: Zurich employees get one day of leave per year to volunteer for any registered charity or not-for-profit organisation they care about.
  • Flood cover: Zurich Australia was the first insurer in Australia to automatically include flood cover in its general insurance.

How Zurich Australia supports the environment

  • Green Office: Zurich Australia’s Green Office reduces the environmental impact of daily work, focussing on reducing water usage, paper consumption and electricity usage, and encouraging recycling.
  • Green power: Zurich Australia sources 50% of its electricity from green power.
  • Climate change: Zurich have reduced their carbon emissions by 37% against 2007 base levels, and became a carbon neutral business in 2014. Zurich also helps its customers understand the risks of climate change and protect themselves from these risks.

Compare Life Cover Available Directly From The Provider

Compare Life Cover Available From An Advisor

Compare Income Protection Cover

Compare Trauma And Major Illness Cover

Compare Total and Permanent Disability (TPD) Cover