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Zurich Life Insurance Review
Zurich Life Insurance offers no-fuss life cover that could meet the needs of most Aussies. But this trusted insurer doesn’t offer any of the bigger policy add-ons.
These products offer great value, with a good score across both features and price.
7+
Great
These are competitive products, though they didn't quite get top scores.
5+
Standard
These products might offer less value or command a higher premium than others in the market.
0+
Basic
These products might only offer a basic set of features or aren't very competitive on price.
Our verdict
Your family could have 2 chances to save on its insurance: Your first month is free and, by taking out a second life policy, you can get a 10% discount on that policy.
Zurich offers premium suspension cover of up to 12 months to help you if you're struggling financially. Most insurers don't offer this.
A $15,000 payout for funeral costs is competitive.
Zurich doesn't offer TPD cover or trauma cover.
The maximum cover limit of $1,500,000 might not be enough for those who are seeking a premium rate of cover.
Compare key features of Zurich life insurance and get a quote today
Finder Score - Life Insurance
Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 20 products and gave each one a score between 1 and 10.
But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.
What are the key features offered by Zurich Protection Plus?
All Zurich Protection Plus plans come with the following standard built-in benefits:
Inflation protection. Your cover will increase annually in line with the Consumer Price Index.
Future insurability benefit. Increase cover without underwriting at certain times.
Financial planning advice benefit. Reimburses the cost of financial planning.
Interim cover. Puts a level of cover in place as soon as you apply.
Future insurability. You can increase your death, TPD or trauma cover if a life event happens, for example marriage or kids, without a health assessment. The same applies for businesses, if certain business events occur, death cover can be increased.
Financial advice. Get up to $1,000 of financial advice reimbursed after a claim payment is made.
Cover suspension. You can put your cover on hold for a specific period, up to 12 months in total. During this hold, you'll have no cover and no claims can be made.
Additional benefits available on Zurich Protection Plus plans include:
Premium waiver option. You don't have to pay premiums if you're disabled and cannot work.
Key features of Zurich direct life insurance policies
You can purchase life insurance directly through Zurich EziCover. The EziCover options are designed to be easy to understand, affordable and simple to apply for.
Zurich Ezicover offers 2 core policies to help provide financial security for you and your family:
EziCover Life Insurance. This policy offers a lump sum payment of up to $1,500,000 on your death or diagnosis of terminal illness.
EziCover Income Protection. This policy pays out a monthly benefit for a period of up to 5 years if you are unable to work due to accidental injury.
Who is eligible?
To apply, you must be between 19 and 69 years of age, based in Australia as an Australian resident or in the process of applying for Australian residency. If you have pre-existing health conditions, you may not be eligible for cover.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Adviser policies
Key features of Zurich adviser policies
Zurich Income Safeguard. This provides you with a monthly benefit if you become disabled due to sickness or injury and can't work for longer than the waiting period.
Zurich Business Expenses. This can provide you with a monthly benefit to reimburse business expenses or key person replacement costs if the insured person becomes disabled.
Zurich Child Cover. This provides you with a lump sum if your child suffers a trauma condition covered by Zurich. It can also include a death, terminal illness and carer benefit.
Note: Be sure to check the Product Disclosure Statement (PDS) for terms and conditions.
Cover perks
Zurich offers a number of rewards and savings including:
Multi-policy discount. This discount applies each year that you hold more than one life risk policy, or when you take out more than one type of standalone cover within the one policy. The maximum discount available is 10%.
COVID vaccination protection. Zurich life insurance customers who suffer a serious side effect from an approved vaccination before the end of 2021 are eligible for a one-off benefit of up to $50,000 - in addition to any standard payouts from a policy. Death or disability from a COVID infection is already covered by life insurers.
Compare Zurich with the other 2023 Life Insurance award winners
Finder's data and insights experts created a rating algorithm to compare 10 life insurance policies in Australia across pricing and key features. Our 2023 winners are:
To give you a general idea of the cost, we generated a quote for Zurich Ezicover Life Insurance with $500,000 in cover. The policy was quoted at $42.53 per month.
Quote was generated on 17 July 2024 for a 37 year old non-smoking male in New South Wales.
These factors will affect your cost with Zurich
There are several factors that determine the cost of your Zurich life insurance cover, including:
Your Zurich Ezicover Life Insurance claim will not be paid if death occurs as a result of suicide within 13 months of:
The start date of cover
Any increase in cover (but only in respect of that increase)
Cover being reinstated
Your Ezicover Income Protection claim will not be paid if it arises due to:
An intentional self-inflicted act or attempted suicide
Uncomplicated pregnancy or childbirth
Unemployment not caused by sickness or injury
An act of war
Your use of illicit substances
You committing (or attempting to commit) a criminal act
You being incarcerated or lawfully detained
Elective surgery (unless you are disabled for a period of more than 90 days)
Events that occur outside Australia, if the Australian Government has advised against travel to that country
Any other exclusion agreed with you when you apply for cover
See how Zurich's claim acceptance rate stacks up against other life insurers
This is the percentage of claims a life insurer pays out. It's based on data from Australian Prudential Regulation Authority (APRA) covering the 12-month period from 1 July 2021 to 30 June 2022. Taken from 18 Australian life insurance underwriters (of direct policies).
More about Zurich Australia
Zurich Australia is part of the Zurich Insurance Group, a leading insurer that offers an extensive range of property and casualty, and life insurance products. Founded in Zurich, Switzerland, in 1872, the group now operates in more than 210 countries and territories around the world.
Zurich first arrived in Australia in 1961. It now employs more than 1,000 people throughout Australia and New Zealand and offers insurance to suit individuals, small businesses, large companies and multinational corporations.
Questions you've asked about Zurich, answered ✅
If you or your beneficiaries need to make a claim on your Zurich life insurance policy, you'll need to call Zurich as soon as possible on 131 551. You'll then need to fill in a claim form and return it to the insurer along with any medical certificates or other supporting documents required.
Once Zurich's Claims Team receives your claim form they will contact you within 24 to 48 hours.
This depends on whether you choose stepped or level premiums. Level premiums do not increase as you age, while stepped premiums increase at each policy anniversary based on your age. However, it's worth mentioning that level premiums will also increase due to policy fee changes, rate increases and indexation.
No medical test is required if you buy a Zurich Ezicover direct life insurance policy. However, medical tests may be required for other policies.
You can change your level of cover at any time by phoning Zurich Australia on 1800 394 268.
That depends on the condition. You have a responsibility to disclose full details of your condition to the insurer so that Zurich can decide whether or not to provide you with cover.
Some conditions are automatically covered while others may require additional medical information and may lead to a higher premium. Certain conditions will be excluded.
Yes. Zurich Australia can trace its roots back to the 1920 founding of the Commonwealth General Assurance Corporation in New South Wales. It was acquired by the worldwide Zurich Insurance Group in 1961 and today employs more than 1,000 people across Australia and New Zealand.
Zurich Insurance Group is a multi-line insurer that offers a wide range of insurance products and services in over 210 countries and territories.
Yes. You can enjoy worldwide cover 365 days a year.
Premiums can be paid on a monthly, quarterly, half-yearly or yearly basis.
James Martin was the insurance editor at Finder. He has written on a range of insurance and finance topics for over 7 years. James often shares his insurance expertise as a media spokesperson and has appeared on Prime 7 News, WIN News, Insurance News, 7NEWS and The Guardian. He holds a Tier 1 General Insurance (General Advice) certification and a Tier 1 Generic Knowledge certification, both of which meet the requirements of ASIC Regulatory Guide 146 (RG146). See full bio
James's expertise
James has written 245 Finder guides across topics including:
BT has grown to become one of the most respected insurance groups in Australia. Find out what is covered under the BT Life Insurance policies and receive a secure quote for cover from an insurance consultant.
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