Zurich relevant life insurance

Zurich is one of the UK’s leading protection insurers and offers a dedicated relevant life policy for employers who want to provide tax-efficient life cover for an employee or company director.

The policy is designed to meet the rules for relevant life insurance and is normally written into a Zurich Relevant Life Policy Trust, helping ensure any benefit is paid to the intended beneficiaries.

Zurich is regularly included alongside other major insurers when independent financial advisers compare relevant life insurance quotes.

Key features of Zurich’s relevant life policy

Zurich includes a number of features as standard, along with options that allow cover to be tailored to an individual’s circumstances.

These include:

• Level, increasing or decreasing life cover
• Terminal illness benefit
• Free life cover during underwriting of up to £2 million, subject to eligibility
• Milestone Benefit, allowing cover to increase after certain qualifying events without further medical underwriting, subject to the policy terms
• Portable cover, allowing eligible employees to continue the policy if they change employers or convert it to a personal policy
• Guaranteed premiums, unless the cover changes
• Online trust documentation through Zurich’s Life Protection Platform

Available features, eligibility and policy terms will depend on the application and Zurich’s underwriting decision.

Who can apply?

Zurich’s relevant life policy can be arranged by a range of UK employers, including:

• limited companies
• limited liability partnerships (LLPs)
• partnerships
• charities
• sole traders employing staff

The life assured must be an employee, which includes company directors and office holders. Applicants must also satisfy Zurich’s eligibility and residency requirements.

How Zurich assesses applications

Every application is individually underwritten.

Factors typically considered include:

• age
• medical history
• smoking status
• occupation
• the amount of cover requested
• policy term

Some applications can be completed entirely online, while others may require further medical evidence before terms are offered.

Reasons advisers often consider Zurich

Zurich is commonly included when advisers obtain quotations because of its combination of established protection products and policy flexibility.

Potential advantages include:

• well-established UK protection insurer
• free cover during underwriting, subject to eligibility
• portable policy if employment changes
• Milestone Benefit allowing qualifying increases without further medical underwriting
• online trust creation and administration
• guaranteed premiums unless cover changes

Comparing Zurich with other insurers

Premiums, underwriting decisions and policy features vary between insurers.

For that reason, many directors obtain quotations from several providers rather than selecting a single insurer at the outset.

An independent adviser can compare Zurich alongside providers such as Aviva, Legal & General, LV=, Royal London and Vitality to identify the most suitable policy for a particular applicant.

Compare relevant life insurance quotes

Every insurer has its own underwriting approach and pricing structure, so obtaining more than one quotation is often worthwhile.

Our independent financial adviser partner, Broadbench Ltd (FCA No. 590288), can compare policies from leading insurers and recommend the most appropriate option for your circumstances.

Get a free quote More Providers