Improved life risk product for advisers

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More than 12 new and improved features will be available to advisers and customers in Zurich's latest update to its wealth protection product.

The new and improved product will be available from this March and won’t cost an arm and a leg: premium increases for income protection and TPD base rates have been limited to 2%, and 4% for trauma bases.

The term (death) rates will remain unchanged, as well as rates for existing level premium policies.

Importantly, wealth protection customers from as far back as 1998 will benefit from the improvements automatically, meaning that advisers won’t need to make any changes.

The update will also include a more user friendly PDS and a new adviser guide among other things, which are already available from user’s Zurich BDM.

Seven years ago Zurich commited to updating its wealth protection package twice yearly.

Wealth protection improvements include:

• The introduction of a premium holiday facility
• More generous non-medical and cover limits
• Shortened trauma qualifying period
• New and improved trauma definitions
• 15% annual discount for rollover funded risk premiums

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