Zurich Term Insurance
Zurich Insurance Group commonly known as Zurich is a Swiss insurance company headquartered in Zurich, Switzerland. The company is the largest insurance provider in Switzerland and renders services all across the globe in 215 countries and territories.
Zurich primarily deals in three types of core business line-ups i.e. general insurance, farming, and global life. The company offers a wide array of insurance products in the UAE that includes term insurance plans as well.
International Term Assurance from Zurich
Zurich offers its term insurance plan by the name of international term insurance that is designed and developed keeping the needs of both expatriates as well as UAE nationals residing in the Emirates. International Term Assurance plan commonly abbreviated as ITA is basically a level term insurance plan that provides a lump sum in case of any unfortunate event leading to the demise or disability of the policyholder.
The term of the Zurich term insurance plan is fixed at the outset of the policy as the lump sum is only payable if the policyholder passes away within the given term of the policy. In any case, where the policyholder manages to survive the term of the policy there is no payout as the plan is not designed to provide any sort of maturity benefits. The plan comes with a free terminal coverage which acts as an additional blanket of protection for you and your loved ones.
Key Features and Benefits of International Term Assurance from Zurich
There are numerous benefits that the international term assurance has to offer, here’s a quick rundown-
The first and the foremost benefit offered by ITA is life coverage to safeguard your family members and loved ones financially in case of any unfortunate event that leads to the demise or temporary/permanent disability of the policyholder. With the Zurich term insurance coverage, your family members and loved ones can make ends meet during the phases of financial instability.
Critical Illness benefit
In case the policyholder is diagnosed with any critical illness that covered within the International term assurance plan then the insurer pays a lump sum for the treatment. However, an important point to be kept into consideration while opting for the critical illness benefit is that the initial qualifying period to be eligible for the start of the policy is 90 days.
The payable premiums for the international term assurance plans are quite affordable and depend upon the additional benefits one opts for. The premium on the Zurich term insurance plan is flexible and does not add a burden to the budget of the policyholder.
The term of the plan is to be decided at the beginning of the policy. The ITA gives the policyholder flexibility and freedom to choose the term of the policy based on their budget and needs. The term of the international term assurance plans varies from 5 years to 30 years.
As mentioned earlier, the international term assurance plan comes with a plethora of additional riders to enhance the protection quotient of term insurance plans. The major add-on riders available with international term assurance are terminal illness coverage, critical illness coverage, waiver of premium benefit, permanent and total disability benefit, etc.
Why choose International Term Assurance from Zurich?
Zurich is one of the most reliable names in the insurance industry when it comes to claiming settlement ratio and transparency. Individuals looking forward to safeguarding the future of their loved ones financially should opt for the international term assurance plan, as it mitigates the risks associated with one’s life by providing financial coverage. Furthermore, people with outstanding debts such as a mortgage, student loans, etc. can opt for the Zurich term insurance plans to protect their outstanding financial obligations.
Claim Process of International Term Assurance from Zurich
The overall procedure of claiming is quite simple and user friendly, the claim is processed and disbursed in three steps that are mentioned below-
Informing the Provider
The first step in order to make a claim is to inform the provider about the events that took place with the policyholder. This can be done by the nominee or any other family member of the policyholder. One can call the customer support number and inform the provider or write an email at the helpdesk of the insurance provider as an initiation process to the claim.
After lodging the claim request the second step is to submit all the necessary documentation to the provider for further processing of the insurance claim. Documents include a copy of the policy papers along with the claim forms and various other required certificates that are vital for processing of the claim.
Review and Disbursement
The final step in the claim procedure is the review followed by the disbursement of the claim. After submission of all the documents, the insurer revisits the case file and documentation for further investigation of the claim. Once the claim is investigated the insurer revisits the claim file and disburses the sum assured on the Zurich term insurance policy.
Contact Details of Zurich Insurance
Policyholders can contact Zurich insurance via phone or email.
Phone number- +971 4 363 4567
FAQ’s on Zurich Term Assurance
Q1: Is terminal illness coverage free along with the basic international term assurance plan from Zurich?
Ans: Yes, the terminal illness coverage is free along with the basic international term assurance plan from Zurich.
Q2: What is the minimum waiting period for critical illness coverage?
Ans: The minimum waiting period in order to get covered under the critical illness coverage is 90 days.
Q3: Can the payable premium for international term assurance plan change during the term of the policy?
Ans: No, the payable premium for the international term insurance plans remains the same throughout the course of the entire policy.
Q4: Can the policyholder change his/her policy after it has been started?
Ans: One can increase the coverage of the policy annually with acceptance from Zurich, however, the sum assured and the total disability benefit cannot be reduced once the policy has started.
Q5: Can the international term assurance from Zurich be used to cover the mortgage and financial obligations?
Ans: Yes, the international term assurance from Zurich can be used to cover the mortgage and other financial obligations.