Zurich Life Insurance
Compare Zurich Australia life insurance
Considering Zurich Australia life insurance? See our comparison table below for a snapshot of its current market offerings. Please note that this table has been formulated based on a non-smoking, 30-year-old male in a professional-type occupation. To compare more direct life insurance products, please click here.
The inclusions mentioned represent a selection of what is covered at the time of writing. Additional terms and conditions may apply to different features. Additional fees may apply to the product. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement (PDS) to determine all the current options and inclusions for the product you are considering.
How do I buy Zurich life insurance?
You can get a quote for Zurich life insurance by clicking on one of the Zurich products in Canstar’s direct life insurance comparison page or our advised life insurance comparison pages for your occupation and age:
If you have questions you can contact a Zurich financial adviser for free by calling 1800 813 710 (open Mon-Fri) or emailing firstname.lastname@example.org
How much does Zurich life insurance cost?
The cost of your life insurance will vary depending on several different factors such as your age, occupation, choice of insurer and whether you’re looking for direct life insurance or advised life insurance. You can compare Zurich life insurance premiums for advised life insurance for your situation by clicking on the link below. Compare these premiums to average premiums for advised life insurance on our database.
How do I lodge a claim with Zurich life insurance?
You or your beneficiaries can claim with Zurich life insurance by calling 131 551 (open Mon-Fri). Zurich will request that after phoning, you fill in an insurance claim form and return it together with medical certificates or other documentation it may ask for.
If your insurance claim is approved, Zurich will arrange the payment of your benefit. If your claim for an income protection benefit is approved, this will involve ongoing payments while you are eligible to continue receiving a benefit, rather than one lump sum payment.
Zurich Life Insurance FAQs
Generally speaking, premiums for forms of life insurance such as term life insurance, TPD insurance or trauma insurance may not be tax deductible, according to ATO (Australian Taxation Office). Ask your tax accountant or financial adviser for more details on this.
The ATO however, states that you can claim the cost of premiums you pay that cover the loss of your income, such as income protection insurance. You can’t, however, claim a deduction for premiums that compensate you for physical injury or are taken out through your super fund. Ask your tax accountant or financial adviser for more details on this.
That depends on whether you choose stepped premiums (which increase as you age) or level premiums (which do not have age-related increases) for your Zurich life insurance policy. Level premiums may still increase over time due to rate increases, policy fee increases and Consumer Price Index (CPI) inflation.
For more information about stepped premiums versus level premiums, read this article.
At the time of writing, medical tests may not always be required to apply for Zurich life insurance; however, depending on your sum insured, age and health conditions, a medical examination may be required.
You should be able to change your level of cover by adding or removing features like TPD cover, and by increasing or decreasing your sum insured for each type of cover included in your life insurance policy. Keep in mind that increasing your level of cover or adding your spouse or children to your policy is likely to mean you pay a higher insurance premium.
If you wish to change your policy inclusions, contact Zurich Australia on 1800 394 268 (open Mon-Fri) to discuss your options.
It depends on the condition. Some conditions are covered automatically; others can be covered with a medical examination and paying a higher premium; other conditions are excluded.
When you apply, Zurich will ask you some questions about any pre-existing conditions to find out whether or not you can be covered for these conditions. You have a legal duty to disclose (tell Zurich about) any pre-existing medical conditions you have had in the past as well as current medications and health issues.
Find out more about pre-existing conditions for life insurance here.
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, it operates in over 210 countries and employs more than 1,000 people across Australia and New Zealand.
Zurich Australia was the proud winner of the Canstar Award for Outstanding Value Advised Life Insurance in 2015, 2014, 2013, 2012 and 2011 and now in 2017.
Source: Zurich Financial Services Australia
Zurich Australia is proud to partner with the RAISE Foundation, an Australian charity with a youth mentoring program that gives people at school, leaving school or young mums under the age of 23 someone to talk to.
Zurich globally protects the environment and supports regional communities through the Z Zurich Foundation, which donates to not-for-profit organisations and community projects around the world. The Foundation focusses on sustainable disaster management, social and economic empowerment, and insurance literacy and risk management. Its flood resilience program, established in 2013, was recognised with the prestigious UNFCCC Momentum for Change Lighthouse Activity Award 2014 and the Special Climate Award at Convergences World Forum 2015. In related news, Zurich Australia was the first insurer in Australia to automatically include flood cover in its general insurance.
To protect our environment, Zurich became a carbon neutral business in 2014 and as of 2015, it had reduced its carbon emissions by 43% against 2007 base levels (Zurich Performance Indicators).