Zurich Policy Enhancements 2011

Oct 4, 2011 - xLife

Zurich has recently announced a raft of enhancements to a number of their policies boasting a more efficient and streamlined underwriting service.

One of the major enhancements has been the removal of medicals (PMARâ€™s - Personal Medical Attendants Reports) for life insurance, TPD insurance and income protection insurance for certain amounts (please read below for specific amounts).

The following is a summary of these enhancements:

Zurich Life Insurance

Scrapped compulsory PMARâ€™s for TPD cover up to $3m for all ages
Scrapped compulsory PMARâ€™s for death cover up to $5m for all ages
Zurich is now able to accept term life insurance cases up to $15m at standard premium rates.
Sharpened its Death and TPD rates in July this year and since mid August has passed those rate cuts back to policies commencing on or after 1 April 2009

Zurich Income Protection Insurance

Scrapped compulsory PMARâ€™s for income protection cover up to $15,000 monthly benefit for all ages
Special income protection offer launched for graduates across a wide range of professions, making it easier to get cover with less hassle.
Streamlined process to apply for an agreed value income protection policy that has been financially endorsed.
New ratings for a number of occupations in key market segments

Zurich Trauma Insurance

Enhancements to 11 trauma definitions
More generous definitions include those applying to carcinoma in situ, aortic surgery, and diabetes along with a host of other improvements.
Carer benefit in child trauma cover extended to spouse of life insured. This means that regardless of which parent owns the child cover, the carer benefit is payable in the event that either parent needs to stop full time work to care for a seriously ill child.

For more details please refer to the Zurich Wealth PDS and Supplementary PDS, or contact an xLife adviser on 1300 135 205.