Business Protection

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Why Zurich Business Protection?

Many businesses overlook protecting their most important assets, their owners and key people. The death or critical illness of a business owner or key person can seriously impact the future success of a business.

We’ve built our business protection in a way that lets the employer choose the cover they need, and change it when circumstances change. We offer life cover or life & critical illness cover.

Zurich Life Protection Platform

  • Summary of cover

    When taking out Zurich Business Protection, the employer can choose to add critical illness or critical illness select.

    Life cover

    Included as standard:

    • Free life cover during underwriting
    • Separation benefit

    Additional benefits that can be added on to the policy at an extra cost:

    • Waiver of premium
    • Conversion option
    • Renewal option
    • Multi-fracture cover

    Life cover and critical illness

    In addition to all that’s included in life cover, the employee will be covered for:

    • 40 serious conditions
    • 2 additional payment conditions
    • 7 advanced payments
    • Free life and critical illness cover during underwriting

     

    Additional benefits that can be added on to the policy at an extra cost:

    • Critical illness select
    • Children’s benefit
    • Total permanent disability
    • Waiver of premium
    • Conversion option
    • Renewal option
    • Multi-fracture cover

     

    Life cover and critical illness select

    With Zurich Critical Illness Select, the employee will be covered for:

    • 51 serious conditions
    • 48 additional payment conditions
    • 10 advanced payments
    • 10 benefit uplift payments
    • 5 complications of pregnancy conditions
    • Option to add enhanced children's benefit

     

    Choose the cover that’s right for your business client's employees

    • Choose cover on a single life or joint life first death basis
    • Choice of life cover or life cover with critical illness (both options include terminal illness)
    • Choice between level, decreasing or increasing cover
    • Increasing cover options of 3%, 5% or RPI
    • Choice of decreasing interest rate between 2% and 18% (at 2% intervals)
    • Monthly or annual premiums
    • Guaranteed premiums (unless cover changes or increases
  • Details of cover

    Eligibility

    Life cover

    • Minimum premium £5 a month or £50 a year
    • Minimum age at entry 16
    • Maximum age at entry 83
    • Maximum age at end of term 89
    • Minimum term 1 year
    • Maximum term 50 years
    • UK resident

    Life cover and critical illness

    • Minimum premium £5 a month or £50 a year
    • Minimum age at entry 16
    • Maximum age at entry 69
    • Maximum age at end of term 74
    • Minimum term 1 year
    • Maximum term 50 years
    • UK resident

    Included benefits

    Life cover

    Included benefit Description
    Free life cover during underwriting Cover for up to £2,000,000 during underwriting.
    Separation benefit If the employee has a joint policy and they separate, divorce, or have their civil partnership dissolved, they can cancel their policy and start individual policies for one or both of them for the same cover amount, without giving us any more details about their personal circumstances.

    Life cover and critical illness

    In addition to all that’s included in life cover, the employee will be covered for:

    Benefit Description
    40 serious conditions If the employee is diagnosed with 1 of 40 serious conditions, including cancer, heart attack, stroke and multiple sclerosis, we'll pay them their cover amount.
    2 additional payment conditions We'll pay your client up to £25,000 if they are diagnosed with less advanced cancer of the breast or prostate.
    7 advanced payments If the employee is put on a NHS waiting list for 1 of 7 major operations to treat one of these conditions, we'll pay the cover amount straight away.
    Free critical illness cover during underwriting Cover for up to £350,000 during underwriting.

    Additional benefits

    Additional benefits Description
    Critical illness select
    • The employee will be covered for a total of 51 serious conditions.
    • If your employee is put on a NHS waiting list for 1 of 9 major operations to treat one of these conditions, we'll pay your client's cover amount straight away.
    • If the employee is put on a NHS waiting list for bowel disease surgery, we'll pay the additional payment amount straight away.
    • If the employee is diagnosed with 1 of the 10 life-changing conditions included in the cover before your employee's 50th birthday, we'll pay up to £100,000 on top of your client's cover amount.
    • The employee will be covered for 48 additional payment conditions, including type 1 diabetes and less advanced cancers.
    • If the employee is diagnosed with 1 of 5 complications of pregnancy conditions before the age of 45, we'll pay £5,000.
    Children's benefit

    If your business client adds children’s benefit to the employee's critical illness policy – whether they’re natural, step or adopted, they will be covered for the following;

    • Covered from birth to their 22nd birthday.
    • Covered for the 42 conditions under critical illness.
    • £5,000 children’s death benefit (from 30 days to 22nd birthday).
    • Each child can take out a policy of their own up to £25,000 of cover after their 16th birthday free of underwriting.
    Enhanced children's benefit

    If your business client chooses critical illness select and wants to add children's benefit they will get enhanced children's benefit;

    • Covered from birth to their 22nd birthday.
    • Covered for 99 conditions under critical illness select plus 6 child specific conditions.
    • £5,000 children’s death benefit (from 24th week of pregnancy to 22nd birthday).
    • Each child can take out a policy of their own up to £25,000 of cover after their 16th birthday free of underwriting.
    • Double the child’s benefit amount up to a maximum of £50,000 if the child is diagnosed with cancer or requires overseas treatment for any of the covered conditions.
    Total permanent disability We'll pay your client the cover amount if their employee can't do their current job ever again before they're 60th birthday, because of illness or injury.
    Waiver of premium We'll pay the premiums on the policy if the employee is too ill or injured to work for more than 6 months and they can't perform their current job. For joint policies, this benefit can be added for either or both lives assured.
    Conversion option Your client can convert their policy to a Zurich Business Whole of Life policy without the employee answering any questions about their personal circumstances. Only available on life cover only policies which have level or increasing cover.
    Renewal option Your client can extend their current policy with the same terms when their cover ends without the employee answering any questions about their personal circumstances. Only available on policies which have level or increasing cover.
  • Flexibility

    We’ve made it possible for you to make changes without having to go through underwriting and asking questions about the employee's health, or changes in personal circumstances.

    As an adviser you will have the ability to make changes to the business protection policy. You can access this through our online adviser portal.

    Milestone benefit

    When significant events happen, the milestone benefit can be used to increase the sum assured without the employee answering any questions about their health.

    The significant events are:

    • An increase in the value of your client's business.
    • Increase in the value of a key individual to the business.
    • Entering into a new commercial loan or increasing an existing one.

    The maximum increase that can be made to the benefit amount is the lower of the original sum assured or £200,000.

    This benefit must be used within 90 days of the significant life event and can only be used if the employee is 54 years old or younger.

    If your client uses the milestone benefit, their premiums will change.

    Policy changes requiring underwriting

    • Increase the amount of benefit
    • Increase the policy term
    • Change from critical illness to critical illness select
    • Add waiver of premium
    • Add total permanent disability
    • Review the premium if the employee previously smoked

    Policy changes not requiring underwriting

    • Reduce the amount of benefit
    • Reduce the policy term
    • Change from critical illness select to critical illness
    • Add/remove children’s benefit
    • Remove waiver of premium
    • Remove total permanent disability
    • Remove renewal option
    • Remove increasing cover
    • Remove conversion option
    • Change the rate on increasing cover
    • Increase/reduce interest rate

    Did you know...?

    Your client can make changes to their policy at specific points during the term.

    To find out more, take a look at our Flexibility of cover guide.
     
  • Additional support

    Zurich Support Services

    Zurich Support Services is so much more than just a counselling service. We understand that there are things going on at home that can affect the employee’s work-life, and also things that are going on at work that affect their personal life. Zurich Support Services aim to help them achieve a positive work-life balance.

    Talk to the team about anything at any time

    Your client can talk to them about anything, from daily worries to major life events. Even if the team can’t help on the call, they can point them in the direction of someone who can. Here are just some of the things people pick up the phone to talk about:

    iconDaily worries

    • Looking for a job
    • Paying back debts
    • Managing household bills
    • Checking consumer rights

    iconBig life events

    • Planning a wedding
    • Facing separation or divorce
    • Dealing with bereavement or loss
    • Moving to a new house

    icon Emotional support

    • Coping with anxiety or depression
    • Living with illness or disability
    • Revisiting life goals
    • Asking about therapy

    iconWork

    • Dealing with pressure or stress
    • Balancing work with a private life
    • Facing bullying or harassment
    • Understanding employment rights

    Zurich Support Services are available 24 hours a day 365 days a year and can be used from the moment the policy is taken out.

    Find out more

  • Making a claim
  • Documents

Claims

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Need to make a claim on behalf of your client?

Underwriting

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Our expert underwriting team deal with each case individually

Tools and calculators

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We've created a range of tools to support you

F&TRC 2018 protection product ratings

F&TRC ratings are independent protection product ratings awarded to insurance providers. The medals are awarded based on the overall proposition of the protection providers as well as a range of underlying categories.

Zurich Business Protection
Zurich Select Business Protection with CI
Zurich Core Business Protection with CI