Zurich International Term Assurance
An independent review of Zurich International Term Assurance by our team of experts
Book a Discovery CallSummary
Zurich International Term Assurance (ITA) is a level term life insurance policy from Zurich International Life (authorised in the Isle of Man), part of Zurich Insurance Group, one of the world's largest insurers with around 140 years' experience.
It is a pure protection plan: for a fixed term of between 5 and 35 years, it pays a cash sum if the life insured dies or is diagnosed with a terminal illness during the term, with optional critical illness, permanent and total disability and waiver-of-premium benefits. Cover is available in USD, GBP, EUR and AED, and the policy can be maintained if you move country. It has no cash-in value at any time, as is normal for term insurance.
Zurich's Middle East business is regulated by the Central Bank of the UAE (which absorbed the former UAE Insurance Authority), the Central Bank of Bahrain and the Qatar Financial Centre Regulatory Authority.
Pros
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Affordable when sold without large commission
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Pure protection (life cover, plus optional CI / PTD / WOP)
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Backed by a global insurer
Cons
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High commissions can be built in by the seller (increasingly capped in the UAE)
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Inflexible once started
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Commonly mis-sold
Our verdict
Zurich is a market leader in international term insurance, and its International Term Assurance is, used correctly, an excellent product. Unlike a bundled whole-of-life policy, this is pure protection: level term life cover that pays a lump sum if you die or are diagnosed with a terminal illness during a fixed term, with the option to add critical illness, total disability and waiver-of-premium cover. It has no investment element and no cash-in value, and that is exactly as it should be, because protection and investment are different jobs.
The one thing to watch is how it is sold. The premiums can be genuinely affordable when no large commission is built in, but the same product can be loaded with high upfront commission by the seller, a practice that is increasingly being capped in the UAE but has not disappeared. The cost of the same cover can therefore vary considerably depending on who arranges it.
Bought cleanly, on a fee-based or low-commission basis, term assurance like this is precisely the right way for most international professionals to protect their family or business. The product is sound; the value depends on the advice around it.
If you would like your protection reviewed as part of your wider plan, and your portfolio is worth around GBP 500,000 or more, a no-obligation Second Opinion will confirm whether your cover is appropriate, and fairly priced.
FAQs
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What are the risk factors with Zurich International Term Assurance?
- A claim may not be paid if your application was not completed fully and accurately, or for excluded causes such as suicide, undisclosed pre-existing conditions, or war and criminal acts. If you stop paying premiums, cover ends 90 days after the first missed payment, with no refund. If you include critical illness cover, its premium can be reviewed and increased every five years. The policy has no cash-in value at any time.