Zurich YourLife - Online Insurance Plan

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The Zurich Insurance Group is one of the oldest and most prestigious insurance companies in the world. It is a multiline insurance company that delivers a wide range of insurance products to small businesses, private individuals and corporations globally. One of its flagship products that have been launched recently online is known as “YourLife” distributed exclusively by Nexus Insurance Brokers LLC. The objective of the Zurich YourLife plan is to provide a smart and fast insurance plan for holders who are looking to avoid cumbersome registration processes or rigorous medical checkups. The policy is affordable and is ideal for those who want to have a fast-track solution for financial emergencies in case they meet with an accident. 

Features & Benefits for Zurich YourLife Insurance plan 

  • An important feature is that there is no need to undergo any medical test in order to avail of this life insurance plan. All the formalities will be completed online.
  • The amount of the life insurance coverage provided can be from the range of AED 100,000 to AED 600,000. This is a level term insurance plan - in other words, the amount of premium that is payable will stay consistent throughout and will not vary with the duration of the policy.
  • There are 3 tenures that one can opt for while purchasing this policy - 5 or 10 or 15 years. If there is no default in the amount of premiums that has to be paid, the client may rest assured that the policy will hold till the end of the specific term that has been selected. The policy is liable to halt in case the premiums are not paid on time, or the claims process is initiated.
  • There are 3 types of coverage that are being provided in this insurance plan - life cover, accidental death benefit, and aeroplane cover.
  • For the first 90 days, the policy will only cover the second option mentioned above, i.e. death by accident. After the initial period of three months is over, the policy will include death benefit under any circumstances unless specifically excluded under the terms of the policy.
  • The LifeCover plan has an important benefit regarding the death by accident as well as death during aeroplane travel scenarios. The company shall vouch to pay an additional 50% of the life cover amount that has been selected in both the cases. However, this payment may be subjected to routine checks by the company. 

Eligibility Criteria for Zurich YourLife Insurance Plan 

  • The applicant should be a resident of any of the Gulf Cooperation Councils, i.e. the UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain.
  • Age eligibility is from 18 to 50 years old.
  • The client has to be a resident of the UAE.
  • Existing customers with accounts in HSBC Bank Middle East Limited may apply.

Documents Required for Zurich YourLife Insurance Plan 

In case of the death of the policyholder, the company has the right to demand the following from the nominee:

  • Claim form provided by the company upon intimation of death of the policyholder. It should be duly filled up clearly mentioning the date and circumstances of death.
  • Valid copy of Emirates ID and residential proof of the deceased.
  • Evidence of death in the form of a death certificate.
  • Attested certificate from a doctor, medical attendant or aviation authorities as per the circumstances.

Procedure to Apply for Zurich YourLife Insurance Plan 

The procedure may be initiated online by visiting the website of Zurich with its dedicated page for the YourLife and YourCare products at YourLife from Zurich Life Insurance. The link will open to an application form which will require the client to fill in their birth date, gender, smoking habits, etc. Finally, they will have to choose the amount of insurance cover that they wish to take, which is available from the range of AED 100,000 to AED 600,000 with slabs varying at amounts of AED 50,000.

Related Link- 

Zurich Futura Whole Life Insurance

FAQs

Will the policy still continue to apply if I have moved permanently outside one of the countries in the Gulf Cooperation Council?

This insurance plan is explicitly being offered by Zurich for the six countries in the GCC. The client must inform the company if they are permanently shifting their residence as the plan will no longer be considered valid.

Should I pay the premiums monthly or annually?

If you have the bulk of the cash amount that is required to be paid, you may go for an annual premium. This would entitle you to a discount of one month premium. On the other hand, if you wish to manage your outgoing payments more efficiently and over a longer term, you should opt for the monthly premium since this can be managed from credit cards.

Who is this plan ideally suited for?

The Zurich Your Life plan is best suited for people who are looking for a low-key and affordable insurance program.

Can the company refuse to pay the claims under any circumstances?

If the claim originates in a country that is among the list of excluded countries in the list of Zurich, the claim will not be processed. These include countries such as Afghanistan, Burkina Faso, Chad, etc. The list should be checked beforehand on the website of Zurich. Suicide will also not be considered eligible for claims processing since it has been clearly stated that the policy is focused

Ruchi Gohri
Ruchi Gohri

Senior Content Writer | She has a penchant for writing and with over 5 years of experience, she plays around with words elegantly, crafting simple content for all to read. In her free time, she loves her couch either to read or catch on to her sleep.