Zurich Life Insurance Review

Zurich is a leading provider of many different types of insurance, with a global network of subsidiaries and offices.

With prices for life insurance starting from just £5 per month, Zurich scored 69% in a review of customer satisfaction conducted by independent experts Fairer Finance, while Defaqto awarded the product 5 Stars.

But is Zurich independently rated as one of the UK's best life insurance companies?

In this guide:

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

The History of Zurich

Zurich is a Swiss insurance company, founded in 1872. The company is headquartered in Zurich, Switzerland. As of December 2015, it was the world's fourth-largest insurer. Zurich traces its origins to the founding of the Zurcher Unfall-Versicherungs-Gesellschaft in 1872. The company initially focused on accident insurance, and later expanded into other lines of business such as fire, life, and health insurance. In 2000, Zurich acquired the British insurance company Royal & Sun Alliance (RSA), which doubled the size of the company. In recent years, Zurich has focused on expanding its operations in Asia and other emerging markets. The company has also made a number of strategic acquisitions, including the purchase of Farmers Group, Inc. in 2009. Today, Zurich offers a wide range of insurance products and services to customers around the world.

What Life Insurance policies does Zurich offer in the UK?

Zurich offers a wide range of life insurance policies in the UK, catering to the needs of both individuals and businesses.

The main types of life insurance policies offered by Zurich are whole life insurance, term life insurance, and critical illness cover.

• Whole of life insurance is a type of policy that provides cover for the policyholder's entire life, rather than for a set term. This means that the policy will pay out regardless of when the policyholder dies. Whole life insurance policies also have an investment element, which means that the policyholder can build up a cash value over time.
• Term life insurance is a type of policy that provides cover for a set period of time, after which the policy will expire. This type of policy is usually taken out to cover a particular need, such as paying off a mortgage or providing for dependents in the event of the policyholder's death.
• Critical illness cover is a type of policy that pays out a lump sum if the policyholder is diagnosed with one of 40 specified critical illnesses during the term of the policy.

How much does Life Insurance from Zurich cost?

Zurich Life Insurance prices will vary depending on the age of the customer. For example, a 20-year-old UK customer would pay £6.48 per month for Zurich's Life Insurance policy, while a 40-year-old UK customer would pay £13.16 per month for the same policy.

What do customers say about Life Insurance from Zurich?

Zurich's UK customers are generally satisfied with the company's life insurance policies. However, some have complained about the high cost of premiums and the difficulty of making claims.

The pros and cons of Zurich Life Insurance

There are a few pros and cons to Zurich's UK Life Insurance policies. Some pros include that they offer a variety of policy types to choose from, so you can find one that best suits your needs, and that they have a wide network of financial advisors to help you make the best choices for your future. Some cons include that their policies can be complex and difficult to understand, and that they may not be the most affordable option for everyone.

Claiming from Zurich

Zurich consistently paid out on more than 98% of all life insurance claims in 2019, 2020, and 2021 – this compares favourably with the UK life insurance industry average.