Zurich Income Protection Review

Zurich is a large insurance company based in Switzerland.

But how does Income Protection from Zurich compare to the UK's best policies?

In this guide:

• The History of Zurich
• What Income Protection policies does Zurich offer in the UK?
• How much does Income Protection from Zurich cost?
• What do customers say about Income Protection from Zurich?
• The pros and cons of Zurich Income Protection
• Claiming from Zurich

We have also reviewed Zurich's critical illness cover and its life insurance policies.

The History of Zurich

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. It provides a wide range of general insurance and life insurance products and services.

Founded in 1872, the group is headquartered in Zurich, Switzerland. Zurich says its purpose is to help  customers understand and protect themselves from risk; and that its ambition is to become the world’s most trusted insurance group.

In 2019, Zurich generated gross written premiums of CHF 27.4 billion in property & casualty insurance, and life gross written premiums and policy fees of CHF 27.2 billion. It is present in 210 countries and territories and has around 55,000 employees serving customers in more than 70 countries.

What Income Protection policies does Zurich offer in the UK?

Zurich offers a range of Income Protection policies to suit different needs and budgets.

All policies offer a tax-free income if you are unable to work due to illness or injury, and can be tailored to provide cover for up to 75% of your pre-tax income.

Policies can be designed to provide cover until you retire, or for a fixed term of up to 10 years. You can also choose to have your policy pay out a lump sum if you are diagnosed with a specified serious illness, rather than an ongoing income.

How much does Income Protection from Zurich cost?

Zurich’s income protection prices vary depending on the customer’s age, gender, occupation, and health. For example, a 35-year-old male non-smoker in good health who works as an office manager would pay £26.16 per month for £500 of monthly income protection from Zurich. A 40-year-old female non-smoker in good health who works as a teaching assistant would pay £28.80 per month for the same amount of coverage. Prices will also differ based on the length of the policy term and the benefit payment period.

What do customers say about Income Protection from Zurich?

According to Zurich's UK customer feedback, the Income Protection policies are reliable and provide peace of mind. The customers are satisfied with the level of protection offered by the policies and appreciate the fact that they can tailor the policy to their own needs. They find the customer service to be helpful and responsive, and overall are happy with their experience with Zurich.

The pros and cons of Zurich Income Protection

There are several pros and cons to consider when taking out a UK income protection policy with Zurich. Some of the pros include the fact that they offer a wide range of policy options, so you can tailor your coverage to suit your needs. They also have a strong financial rating, meaning you can be confident that they will be able to pay out on your policy if you need to make a claim.

However, there are also some cons to consider. One is that their policies can be more expensive than some of their competitors. This is something you will need to weigh up against the other features they offer. Another con is that they have a slightly longer waiting period before benefits are paid out, which again may not be suitable for everyone.

Claiming from Zurich

Zurich paid out on over 91% of all new Income Protection claims in 2021. See how that compares to the UK industry average income protection pay out rate.