Zurich is extending the age limit on its investment-linked life cover policy in response to Chancellor George Osborne’s Budget pension reforms.
Launched on its Zurich Intermediary Platform in January, the cover is part of plans for a wider investment-linked protection rollout.
It is now available until a policyholder’s 70th birthday, having previously been available up until age 64.
The extension is targeted at those that stay invested longer in retirement. The cover, which usually comes with a 0.1 per cent charge, is being offered free to the provider’s platform clients until the end of 2014.
The policy covers against investment loss on assets held on the platform. On death, the provider will pay the difference between the original investment and value at death.
Zurich head of retail wealth propositions Mark Peters says: “This latest solution extends our Investment Life Cover to even more customers, allowing those up to the age of 70 to take out the five-year plan.
“It is part of our commitment to roll-out a suite of simple and easy to understand investment-linked to protection solutions.”
Nucleus launched investment-linked protection on its platform in 2012.