Zurich Life Insurance

Zurich Life Insurance

A life insurance policy can do many great things for an individual. From paying off one’s outstanding debts to keeping a secured roof over their family members, funding one’s child’s further education to providing an income stream for a spouse to live on, and even keeping the family business within the family. In its true essence, it can get an individual ready for life and its adventure.

Zurich life insurance helps in providing financial help to the beneficiaries of the policyholder who depends on him or her in case he or she is not around anymore. Just like one does not leave any scope in insuring their home or insure their prized possession (i.e. car), there should be no hesitation in protecting the ones who depend on them financially.

Types of Zurich Insurance

The following are the types of life insurance plans offered by Zurich:

1. YourLife

This is an instant, affordable, and simple life coverage policy designed to protect the loved ones of the policyholder against any financial implications of his or her demise. It does not require one to undergo any medical tests or examinations and it covers them for the selected tenure online in 3 simple steps. It is open to all UAE residents and the cover starts at less than AED 2 per day.

This life policy comes in easy packages with different scopes of covers. The cover one may require depends on factors like size of family, income, or any existing loans.

The amount of coverage that needs to opt for can easily be calculated using the Zurich Life Insurance Needs Profiler tool.

2. International Term Assurance (ITA)

For someone who has not built enough wealth to protect his or her family members financially if something unfortunate were to happen to him or her, then opting for a term insurance policy can be the right choice. The following are the reasons why one should opt for this coverage offered by Zurich Insurance:

  1. If the policy seekers need a plan to protect themselves or their family members for a fixed period of time.
  2. If the policy seeker wants to opt for protection for a mortgage or a loan.
  3. If the policy seeker requires a simple yet effective policy to manage that does not have any cash value.

The right decision on the amount of coverage that one may require can be made using the Zurich Protection Calculator. This tool helps in getting an estimate of the right coverage amount that a policy seeker may require.

3. Futura

This is a life-time insurance coverage that provides a variety of covers: life, free terminal illness, as well as free aeroplane cover. Additionally, this plan offers a variety of additional cover benefits such as critical illness, cancer, permanent and total disablement, fixed income, family income, accidental death, waiver of premium, and hospitalization.

The new customers can benefit from a medical 2nd opinion from the best doctors. The policy seeker has the benefit to choose between the term insurance cover and whole life insurance cover basis on their needs. The following are the reasons why one should opt for this coverage offered by Zurich Insurance:

  1. Leaving a financial legacy
  2. Protecting loved ones financially in case of unforeseen occurrences
  3. Additional coverage benefits to fit one’s protection requirements
  4. The flexibility of changing the policy later
  5. Protection policy that builds cash value over the course of time

The right decision on the amount of coverage that one may require can be made using the Zurich Protection Calculator. This tool helps in getting an estimate of the right coverage amount that a policy seeker may require.

4. IDTA or International Decreasing Term Assurance

Financing one’s home is most likely among the major financial commitments that a policy seeker and the family members can ever make. But often, people tend to overlook considering how their mortgage payments would be settled if they were no longer around.

The International Decreasing Term Assurance (IDTA) plan offered by Zurich Life Insurance along with the critical illness plan is set out to protect one’s mortgage repayments and any other outstanding loans. The following are the reasons why one should opt for this coverage offered by Zurich Insurance:

  1. If the policy seekers need a plan to protect themselves or their family members for a fixed period of time.
  2. If the policy seeker wants to opt for protection for a mortgage or a loan.
  3. If the policy seeker requires a simple yet effective policy to manage that does not have any cash value.

The right decision on the amount of coverage that one may require can be made using the Zurich Protection Calculator. This tool helps in getting an estimate of the right coverage amount that a policy seeker may require.

Zurich Critical Illness

The Zurich critical illness cover is an optional add-on benefit that is available to the policy seeker with most of the life insurance policies. Under this add-on coverage, there is a sum assured that is paid out as a lump sum if the policyholder is diagnosed with one of the illnesses from the Zurich critical illness list. Zurich covers a wide range of illnesses including heart attack, stroke, and cancer.

  • Why Do I Need This?

The reason behind policyholders requiring this cover is that it is designed to protect them and their family members from the impact that the illnesses, such as heart attack or cancer can have, and provide the dependents with a financial net during a crisis.

  • Free Coverage for Children

Zurich not only providers coverage to the policyholder but also offers children’s critical illness cover free for up to 3 children, when the policyholder opts for a critical illness add-on benefit.

  • The Employer of the Policyholder Might Not Offer Coverage for Critical Illness

It is important for one to thoroughly go through the benefits offered by his or her current employer, because while most of the employers in the market offer life insurance coverage, very few of them include critical illness benefit.

  • More Likely to Claim

Another reason that makes it sensible to opt for add-on critical illness coverage is that as per the ABI – Association of British Insurers, the policyholders are 5 times more likely to file a claim on critical insurance coverage as compared to life insurance coverage before the age of 65 years.

Key Features of Zurich Life Insurance

Regardless of whether the policy seeker is an individual with family members dependent on his or her income or he or she is single with no dependents – there are numerous features of life insurance that make it a good choice. Some of these features are briefly mentioned below:

1. To Get Rid of Financial Stress

It is important for one to know whether or not his or her family will be able to manage financially if they were no longer around to take care of them. A life insurance policy can help in paying off any school fee, rent, or other daily expenses to ensure that the policyholder’s family is not left in any sort of financial stress.

2. Existing Debts or Loans

Student loan, personal loan, home loan, car loan, credit card expenses, it can be a lot to settle. Life insurance helps in protecting one against these expenses to ensure that the family members are not left behind to bear the bill for them.

3. Protecting a Home

Life insurance can be a good form of mortgage protection. If the policyholder faces an unexpected demise, his or her family can manage to pay off any existing mortgage balance and stay in the home without any stress.

4. Funding a Child’s Education

The greatest gift one can give their children is the benefit of quality education. The lump-sum payout received from a life insurance policy can be invested in funding a child’s further education.

5. Replacing Lost Income

If both partners in home work and one of them passes away unexpectedly, a life insurance policy can help cope with and replace the lost income so that the family members can sustain their current lifestyle.

6. Additional Benefits of Zurich Insurance

Apart from the basic life insurance policy and additional critical illness cover, Zurich Life Insurance offers a wide range of choices for optional covers that can be added to the base policy for additional peace of mind if one is unable to work. Below mentioned are the reasons why one would require the various add-on coverage benefits:

7. Payment of Insurance Premium

The Waiver of Premium benefit offered by Zurich insurance helps policyholders by paying the premiums on their life insurance policy till the end of the payment term of the policy so that they do not have to worry about their life cover when they might require it the most.

8. Help Adapt to a Disability

The Permanent and Total Disability benefit offered by Zurich helps policyholders pay for the changes that they might be required to consider.

9. Help Dependents in Managing Daily Expenses

Zurich’s Family Income Benefit helps the policyholder by replacing his or her income in case he or she is seriously ill or faces any sort of disablement.

10. Provide Support While the Policyholder is Recovering

The Hospitalization Benefit offered by Zurich life insurance covers the expenses of the policyholder while he or she is at the hospital so that the primary focus for him or her can be getting better.

11. Cope With the Loss of a Limb

The Dismemberment Benefit offered by Zurich insurance pays out a sum assured to help the policyholder in case he or she faces an event of loss of sight or loss of a limb.

However disheartening it is to think about these unfortunate occurrences, the reality is that they occur almost every day in someone’s life – which makes it important to consider them and the likelihood of them happening.

Zurich Life Insurance Policies

Zurich Life Insurance Policies

Key Features and Optional Coverage

Key Benefits

YourLife

  • Three coverage options are available:
  1. YourLife Essential (only life cover)
  2. YourLife Plus (life cover along with accidental death benefit)
  3. YourLife Complete (life cover along with accidental death benefit and aeroplane cover)
  • Policy term of 5, 10, or 15 years
  • Open to all UAE residents (aged between 18 and 50 years)
  • Cover starts at less than AED 2 per day
  • Optional additional benefits:
  1. Accidental Death Benefit
  2. Aeroplane Cover
  • Instant
  • Simple
  • Affordable
  • Simple packages with different scopes of coverage

 

International Term Assurance (ITA)

  • Available to individuals on a single or joint basis
  • Minimum age: 18 years; Maximum age: 74 years
  • The maximum age for a policy with an additional benefit: 59 years
  • Premiums can be paid monthly or yearly
  • Term of the policy: 5-35 years
  • Some Additional Optional Benefits:
  1. Critical Illness
  2. Permanent and Total Disability
  3. Waiver of Premium
  • Peace of mind knowing that one is protected from the uncertainties of life
  • A wide range of additional optional coverage options to choose amongst that can help in protecting the policyholder’s income
  • Complimentary Term Illness cover and after signing immediate coverage is provided

Futura

  • Provides a range of covers: life cover, free aeroplane cover, and free terminal illness benefits
  • Some Additional Optional Benefits:
  1. Critical Illness
  2. Permanent and Total Disability  
  3. Cancer Cover
  4. Family Income
  5. Fixed Term Income
  6. Accidental death
  7. Dismemberment
  8. Hospitalization
  9. Waiver of Premium
  • New customers  can avail a free medical 2nd opinion by the best of doctors
  • Flexibility in choosing term life vs. whole life cover
  • Plan can be tailored to cover the policyholder, a spouse, or a business partner in the present and if anything changes, in the future
  • Guaranteed continuation for the lifetime of the plan for the critical illness cover and cancer-only cover
  • A free medical second opinion gives peace of mind
  • Free children’s critical illness cover
  • Range of additional options to increase the scope of coverage
  • Ability to increase the cover in case of specific life events like childbirth, wedding, etc.
  • Immediate payment of an advance of up to USD 7,500 in case of death to cover funeral expenses

International Decreasing Term Assurance (IDTA)

  • Term of up to 35 years
  • Available on a single or joint basis to the policy seekers
  • Individuals must be aged between 18 and 74 years (maximum age with optional coverage is 59 years)
  • Some Additional Optional Benefits:
  1. Critical Illness
  2. Permanent and Total Disability
  3. Waiver of Premium
  • Peace of mind knowing that one is protected from the uncertainties of life
  • A wide range of additional optional coverage options to choose amongst that can help in protecting the policyholder’s income
  • Complimentary Term Illness cover and after signing immediate coverage is provided

Contact Details of Zurich Life Insurance

Dubai

Address: Unit #601, 6th Level, Building no.6, Emaar Square, Dubai, UAE

Tel: +971 4 363 4567

Email: helppoint.uae(@)zurich.com

Abu Dhabi

Address: Tourist Club Area, Street no.10, Abu Dhabi Trade Center, East Tower, 7th Level, Office #1

Tel: +971 2 41 86 100

Email: helppoint.uae(@)zurich.com

Bahrain

Address: Floor 27, Almoayyed Tower, Seef District, Kingdom of Bahrain

Tel: +973 1756 3321

Email: helppoint.bh(@)zurich.com

Qatar

Address: Qatar Financial Center Tower, West Bay, Doha, Qatar

Tel: +974 4428 6322

Email: helppoint.qa(@)zurich.com

Zurich Life Insurance - FAQs

Q1. Can I transfer my policy’s ownership?

Ans: Yes, the original policy’s ownership can be transferred to another individual by sending Zurich an original and completed Deed of assignment form. There also needs to be some valid proof provided to confirm the identity of the new owner of the policy. This process usually takes up to 10 business days.

Q2. Who can make premium payments on my policy?

Ans: Premium payments can be made by any of the policy owners and if they are unable to do so, Zurich accepts payments from an acceptable 3rd party. 

Q3. How can I make a claim on my life insurance, critical illness, or disability coverage?

Ans: A claim can be filed via phone (+971 4 363 4567 or +44 1624 691111) or via email (benefit.claims(@)zurich.com).

Q4. Can I take a premium holiday?

Ans: Yes, premium holidays can be requested in case of some of the products by sending Zurich a duly filled up form for requesting a premium holiday through the registered email address. This process generally takes up to 5 business days once clear and complete documentation is received.

Q5. What should I do if I have misplaced my policy documents?

Ans: You can request for a new set of policy documents by emailing Zurich a completed form for Lost policy declaration and indemnity through the registered email address.

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