Life insurance is a special kind of tool which gives you cover for life’s uncertainties. No one wants anything bad to happen to them; however, these things cannot be controlled. If such things happen, no amount of money can replace what is lost.

Loss, especially life, cannot be replaced; but the loss can be eased. Life insurance does just that. It helps your family cope up with the stress, financially and emotionally, if such things happen. As the old saying goes, it is better to be prepared.

Life Insurance Explained

Life insurance can be pretty complex to the uninformed. With all the jargon and various policies which vary from provider to provider, anyone can get lost in translation so to speak.

But understanding the basics and how it works is not really as complex as it sounds.

Term life insurance is perhaps the simplest form of insurance because you purchase it for a specific purpose at a specific period of time. When you die, your beneficiaries receive the value of the policy.

The return of premium is a hybrid between whole life insurance and term life insurance. You buy a premium at a set period of time. If you die your beneficiaries receive the benefit; but if you outlive the policy the full amount you have paid for premiums will be returned to you.

Zurich Term Life Insurance Policies

Term life insurance is basically affordable, flexible, and has large payouts as opposed to whole life insurance. These attributes further come into play with Zurich Term Life Insurance which includes a variety of term life insurance policies – Zurich Protection Plus, Zurich Select Term Plus, and a Superannuation Term Life Policy related to the Protection Plus policy linking super and ordinary benefits together. With three options to choose from, there is always something for you.

Zurich Protection Plus

This is a Zurich Term Life Insurance policy which gives you the possibility to select a standalone cover of Death, Trauma, or TPD; or a combination of any of the three. Aside from the built-in cover for Death, Trauma, and TPD, it also gives you access to other standard benefits, such as the following:

• Indexation of Benefits protects your benefits against inflation. Your cover is automatically increased every year in line with the Consumer Price Index or less than 5%.
• Future Insurability allows you to increase your cover if some life-changing events, such as marriage or birth of a child, happen. You can do this without providing additional medical proof.
• Reimbursement on Financial Planning reimburses you up to $1,000 if you have received financial planning advice after getting a full benefit payment.
• Premium Freeze puts a hold on your premiums for a period of time letting you pay the same amount of premium as the cover is reduced annually.
• Interim Cover provides you cover for up to 90 days as your application is being assessed.

Zurich Select Term Plus

This is another product in Zurich’s Term Life Insurance policies which has no maximum amount of cover. Under this policy, you can choose 5 to 15 years term life insurance cover. It also has an Interim Cover Benefit just like the Protection Plus policy. It also has a Financial Planning Benefit paying you the same amount of up to $1,000 if you received financial planning advice after receiving a payment for a benefit. Other notable features are as follow.

• Terminal Illness Benefit gives you 100% advanced payment of the Death Benefit if and when you are diagnosed of a terminal disease and has less than 12 months to live.
• Accidental Injury Benefit pays you a lump sum if you have been rendered disabled because of an accident or injury.
• Advanced Funeral Expenses pay you a maximum of up to $15,000 of the Death Benefit while a claim is being settled.

Zurich Superannuation Term Plus

This is an insurance policy which gives you the ability to link covers in and outside your superannuation fund. You can have a Superannuation policy similar to Protection Plus which allows you to link a mixture of super and ordinary benefits. The linked benefits provide you with a competitively priced package; however, this can only be selected within a single policy.

Choosing Zurich Term Life Insurance

With so many insurance providers in the industry, it sometimes become a dilemma to know which one to choose. Aside from considering the products, another factor you should consider is the company that backs the products.

Zurich Term Life Insurance is backed up by one of the world’s leading financial services provider and has a global presence in the Asia Pacific, Europe, and North and South America. It has been established since 1872 with 60,000 people employed to cater to specific needs of each client.

Having Zurich Term Life Insurance makes you protected 24/7 wherever you are without being tight on your budget. With a flexible monthly payment scheme, you have the sufficient cover and protection you need.

Zurich Term Life Insurance is a flexible term life insurance product which offers you various policies to tailor to your needs. Each policy allows you to get cover according to your finances. And since it’s backed up by a reputable financial institution, you can never go wrong.