Zurich launches new protection platform - making life easier
Swindon, September 10, 2018
Zurich today announces major changes to its protection range. The leading insurer’s brand new Life Protection Platform means products are easier to recommend, buy and importantly - service.
- New protection platform simplifies and speeds up applications
- New Income Protection and Multi-fracture cover
Zurich today announces major changes to its protection range. The leading insurer’s brand new Life Protection Platform means products are easier to recommend, buy and importantly - service.
Easier to recommend
There are new products (Income Protection and Multi-fracture cover), and significant improvements to existing Life and Critical Illness cover with discounts available for customers with multiple policies. At the heart of the new range is choice and flexibility.
The Income Protection and Critical Illness policies are available in two levels: ‘Core’ will provide an entry-level but extensive breadth of cover, and ‘Select’ will give more comprehensive, feature rich protection. Customers will have the flexibility to move between the two as their circumstances change.
Free confidential telephone-based counselling is on hand to support customers with everything from legislative and taxation enquiries, family and work-related issues, relationship problems, financial difficulties, stress and anxiety, substance abuse and bereavement.
Commenting on the launch, Zurich’s Peter Hamilton, Head of Market Management said, "We’ve asked advisers and customers what they need and have completely redesigned our products and services to offer greater flexibility with slicker and speedier systems.
“In a world that demands 24/7 access, Zurich’s Life Protection Platform is about offering advisers and customers choice and convenience - both around how and when they choose to manage their policies and the type of cover available. The range of conditions covered, and new features like our Multi- fracture cover and optional children’s benefit, reflect current lifestyles and the fact our lives and those of our families constantly change.
“Importantly, our new platform gives us the ability to evolve and develop our offering. These are significant changes for us but there’s much more to come.
“We’re confident that we’re offering market-leading products, underpinned by first class service and support so that more people can secure crucial cover to support them through life’s ups and downs.”
Income Protection
Key features of Zurich’s ‘Core’ Income Protection policy include:
• Up to 80% of net earnings covered for customers unable to work through illness or injury
• Full rehabilitation support delivered by Zurich’s new specialist in-house team
• Early claim notification benefit – Zurich will pay customers premiums when rehabilitation support is accessed during their deferred period[1]
• Return to work packages – if customers return to work on reduced hours, salary is topped up for 2 years
• Choice of full-term or 2-year claim benefit option – with the ability to change between the two
Zurich’s Income Protection ‘Select’ offers the features of ‘Core’ cover, but also:
• Trauma Benefit where customers receive a lump sum of up to £50k on diagnosis of one of six conditions
• Family Carer Benefit of up to £1,500 for 12 months, which supports families with a caring commitment following the illness or injury of a loved one
• Other features include a Hospital Stay Benefit of £100 per night after six consecutive nights and a Funeral Benefit offering the lower of six times monthly benefit or £10k
Critical Illness
Zurich’s new ‘Core’ Critical Illness covers:
• 40 of the most claimed for medical conditions and if the customer is put on an NHS waiting list for 1 of 7 major operations to treat one of these conditions, cover will be paid straight away
• Customers will also be paid up to £25k if they are diagnosed with less advanced types of breast or prostate cancer
Children’s cover on Critical Illness is now an optional extra, so that those without children, or where dependants have grown-up, don’t pay for cover they will never use. More importantly, that cover can be added or removed throughout the life of the policy.
Children will be covered from birth to their 22nd birthday for all 42 conditions and the policy will pay £5,000 upon death of a child. Also, each child can take out their own policy from their 16th birthday free of underwriting for cover up to £25k.
Critical illness ‘Select’ gives more flexibility and choice:
• 51 medical conditions including mental illness
• 10 life-changing conditions diagnosed before age 50 will pay up to an additional £100,000
• Additional payments for 48 medical conditions including type 1 diabetes and less advanced cancers
• £5,000 payment for complications of pregnancy
Again, Children’s Critical Illness will be an optional extra and ‘Select’ customers will get enhanced children’s cover which includes:
• Cover for all 99 adult conditions including type 1 diabetes
• 6 child-specific conditions
• Double payment for children’s cancer and overseas treatment for any of the conditions
Multi-Fracture cover
Multi-fracture cover is another new option on Life, Critical Illness and Income Protection policies for customers between 16-70 years and requires no underwriting. If a customer breaks a bone, dislocates a joint, ruptures their Achilles tendon or tears a cruciate ligament in their knee, they can claim up to £6k per year.
Easier to buy
Recognising the role intermediaries play in offering quality advice to customers, Zurich has made its new platform easier for them to apply for instant cover online. As well as real-time updates on applications and immediate alerts from third parties such as GPs, electronic signatures will apply to AMRAs (Access to Medical Records Act). Online trusts will also be signature free.
Advisers can choose whether to complete medical questions on behalf of their clients, or send a link for those who want do so themselves and in their own time.
Easier to service
The new policies have been designed to grow and flex with the lives of customers. There is a self-service option for advisers to make instant changes to policies at any time, such as increasing cover, changing terms, adding and removing features such as children’s and Multi-fracture cover and switching between cover types.
Zurich is phasing in the launch of the new platform to advisers across the entire market throughout September. For more information visit Zurichintermediary.co.uk
Ends
Emma Thomson, Lifesearch: “Zurich’s new range is great news for customers. It will appeal to those who value the option to flex up or down, depending on where they’re at in their lives. Specialist services like in-house rehabilitation for income protection customers will also provide reassurance that professional help is at hand when they need it most.”
Jon Nixon, The Buy to Let Business: “Zurich have brought a true breath of fresh air to an ever-changing market. The well thought out developments will impress advisers, whilst the control and flexibility given to clients allowing them to adapt their plan as they go through life is smart.”
Linda Hornsby, Safeguard: “It’s a groundbreaking product suite backed up by a support system which is market leading. The advisers at Safeguard are delighted how easy it is to use and the back office staff love it as it gives total clarity and as the portal is self-serve, it means we don’t have to waste time hanging on the phone.”
- New Income Protection and Multi-fracture cover
Zurich today announces major changes to its protection range. The leading insurer’s brand new Life Protection Platform means products are easier to recommend, buy and importantly - service.
Easier to recommendThere are new products (Income Protection and Multi-fracture cover), and significant improvements to existing Life and Critical Illness cover with discounts available for customers with multiple policies. At the heart of the new range is choice and flexibility.
The Income Protection and Critical Illness policies are available in two levels: ‘Core’ will provide an entry-level but extensive breadth of cover, and ‘Select’ will give more comprehensive, feature rich protection. Customers will have the flexibility to move between the two as their circumstances change.
Free confidential telephone-based counselling is on hand to support customers with everything from legislative and taxation enquiries, family and work-related issues, relationship problems, financial difficulties, stress and anxiety, substance abuse and bereavement.
Commenting on the launch, Zurich’s Peter Hamilton, Head of Market Management said, "We’ve asked advisers and customers what they need and have completely redesigned our products and services to offer greater flexibility with slicker and speedier systems.
“In a world that demands 24/7 access, Zurich’s Life Protection Platform is about offering advisers and customers choice and convenience - both around how and when they choose to manage their policies and the type of cover available. The range of conditions covered, and new features like our Multi- fracture cover and optional children’s benefit, reflect current lifestyles and the fact our lives and those of our families constantly change.
“Importantly, our new platform gives us the ability to evolve and develop our offering. These are significant changes for us but there’s much more to come.
“We’re confident that we’re offering market-leading products, underpinned by first class service and support so that more people can secure crucial cover to support them through life’s ups and downs.”
Income Protection
Key features of Zurich’s ‘Core’ Income Protection policy include:
• Up to 80% of net earnings covered for customers unable to work through illness or injury
• Full rehabilitation support delivered by Zurich’s new specialist in-house team
• Early claim notification benefit – Zurich will pay customers premiums when rehabilitation support is accessed during their deferred period[1]
• Return to work packages – if customers return to work on reduced hours, salary is topped up for 2 years
• Choice of full-term or 2-year claim benefit option – with the ability to change between the two
Zurich’s Income Protection ‘Select’ offers the features of ‘Core’ cover, but also:
• Trauma Benefit where customers receive a lump sum of up to £50k on diagnosis of one of six conditions
• Family Carer Benefit of up to £1,500 for 12 months, which supports families with a caring commitment following the illness or injury of a loved one
• Other features include a Hospital Stay Benefit of £100 per night after six consecutive nights and a Funeral Benefit offering the lower of six times monthly benefit or £10k
Critical Illness
Zurich’s new ‘Core’ Critical Illness covers:
• 40 of the most claimed for medical conditions and if the customer is put on an NHS waiting list for 1 of 7 major operations to treat one of these conditions, cover will be paid straight away
• Customers will also be paid up to £25k if they are diagnosed with less advanced types of breast or prostate cancer
Children’s cover on Critical Illness is now an optional extra, so that those without children, or where dependants have grown-up, don’t pay for cover they will never use. More importantly, that cover can be added or removed throughout the life of the policy.
Children will be covered from birth to their 22nd birthday for all 42 conditions and the policy will pay £5,000 upon death of a child. Also, each child can take out their own policy from their 16th birthday free of underwriting for cover up to £25k.
Critical illness ‘Select’ gives more flexibility and choice:
• 51 medical conditions including mental illness
• 10 life-changing conditions diagnosed before age 50 will pay up to an additional £100,000
• Additional payments for 48 medical conditions including type 1 diabetes and less advanced cancers
• £5,000 payment for complications of pregnancy
Again, Children’s Critical Illness will be an optional extra and ‘Select’ customers will get enhanced children’s cover which includes:
• Cover for all 99 adult conditions including type 1 diabetes
• 6 child-specific conditions
• Double payment for children’s cancer and overseas treatment for any of the conditions
Multi-Fracture cover
Multi-fracture cover is another new option on Life, Critical Illness and Income Protection policies for customers between 16-70 years and requires no underwriting. If a customer breaks a bone, dislocates a joint, ruptures their Achilles tendon or tears a cruciate ligament in their knee, they can claim up to £6k per year.
Easier to buy
Recognising the role intermediaries play in offering quality advice to customers, Zurich has made its new platform easier for them to apply for instant cover online. As well as real-time updates on applications and immediate alerts from third parties such as GPs, electronic signatures will apply to AMRAs (Access to Medical Records Act). Online trusts will also be signature free.
Advisers can choose whether to complete medical questions on behalf of their clients, or send a link for those who want do so themselves and in their own time.
Easier to service
The new policies have been designed to grow and flex with the lives of customers. There is a self-service option for advisers to make instant changes to policies at any time, such as increasing cover, changing terms, adding and removing features such as children’s and Multi-fracture cover and switching between cover types.
Zurich is phasing in the launch of the new platform to advisers across the entire market throughout September. For more information visit Zurichintermediary.co.uk
Ends
Adviser Endorsements
Emma Thomson, Lifesearch: “Zurich’s new range is great news for customers. It will appeal to those who value the option to flex up or down, depending on where they’re at in their lives. Specialist services like in-house rehabilitation for income protection customers will also provide reassurance that professional help is at hand when they need it most.”
Jon Nixon, The Buy to Let Business: “Zurich have brought a true breath of fresh air to an ever-changing market. The well thought out developments will impress advisers, whilst the control and flexibility given to clients allowing them to adapt their plan as they go through life is smart.”
Linda Hornsby, Safeguard: “It’s a groundbreaking product suite backed up by a support system which is market leading. The advisers at Safeguard are delighted how easy it is to use and the back office staff love it as it gives total clarity and as the portal is self-serve, it means we don’t have to waste time hanging on the phone.”