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Zurich reveals details for investment-linked protection on platform

Zurich has revealed the details for its investment-linked protection product which will be available on its adviser platform from 6 January.

The range is initially launching with the investment life cover product, which will cover loss on investment at death.

The cover will not require any underwriting or medical evidence. It works by protecting the policyholder’s eligible platform investments so that in the event of their death Zurich will pay out the difference between the original investment, less any withdrawals, and the value at the point of death.

Zurich will charge 0.1 per cent for the cover, although the charge will be waived until 2015.

Money Marketing revealed in October the insurer was planning to offer investment-linked protection. 

Zurich head of retail David White says: “This latest innovation drives at the heart of our ambition to help advisers and their customers manage risk. We know making any investment can be a significant undertaking and we hope offering this uncomplicated solution will help those that require the additional cover.

“Advisers have told us investment linked protection is exactly what they want – a product that is simple, easy to understand and easy to apply for. Today’s announcement is the start of a whole suite of investment-linked protection solutions which will demonstrate our commitment to protecting people’s futures”.

Nucleus launched investment-linked protection on the platform in 2012 and True Potential has plans to launch a similar line onto its adviser platform.

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. Interesting. Are we going to see an army of octogenarians in “adventurous” portfolios now? If not why not?

  2. sweet marketing idea, but expensive for what it is.

  3. @JP Why so? No underwriting, can’t find any info on the product so don’t know if theres a maximum ceasing age but 10 basis points doesn’t sound too bad?

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