Zurich Launches Simpler Income Cover

Get a quote

As part of its annual product review, Zurich Financial Services Australia (Zurich) has announced a range of enhancements “with the aim of simplifying insurance even further”.

Two of the major enhancements include:

  • Introduction of three levels of cover to Zurich’s Income Replacement policy
  • A simplified business expenses cover proposition

Zurich advises its Income Replacement cover will now be available to clients across three levels:

  • Premier
  • Comprehensive
  • Standard

According to Zurich, the three levels of cover cater to a “… full range of individuals who need income protection, from high-earning professionals to blue-collar workers, and provides benefits and options suited to each group.”

The changes to business expenses cover will allow clients to package it as an optional add-on within an Income Replacement policy, without the need for a standalone policy.

In an update focussed in particular on offering flexibility for the SME sector, other changes/enhancements include:

  • Improved offset provisions for higher-level income protection policy occupations
  • Related policies under lump sum covers extended to SMSF ownership
  • Enhanced TPD Own occupation definition
  • 12 month buy back of death cover after a TPD claim is now a standard, built-in benefit
  • Improved Malignant Cancer definition
  • Zurich notes that other than minor management fee chances there have been no rates changes in this update.

Speaking about the enhancements, General Manager – Life, Colin Morgan, said: “We are giving advisers the means to connect with a broader range of their customers and, in doing so, give them a strong platform for growth”.

“Small business has a big problem when it comes to underinsurance. As an insurer, one of the ways we can help tackle this is make our cover simpler and more accessible, and we believe these latest enhancements do just that,” added Mr Morgan.

Helpful insurance info

We compare insurance options from Australia's most trusted providers:

About MultiCover

MultiCover is a free service designed to provide you with easy access to a range of financial service specialists that cover the important things in life, Family, Work and Play. Simply choose and select from a range of options.

We aim to provide you with not only choice in financial services and products, but also options in how you can shop, compare and select these financial products and services. Many of our customers like to speak directly with a specialist about the product or service they are considering, gaining the benefit from their experience and customising a solution. Others prefer

learn more about us

Insurance Info

Visit our channel

MultiCover is a referral service and not a financial service provider. The information on our website and other documentation is of a general nature only and does not take into account your personal financial situation, needs or objectives. None of this information is, or shall be deemed to constitute financial and/or other advice to purchase a product or service. We strongly recommend that you obtain professional advice prior to purchasing any financial product and/or service. Please see our site Terms of Use and Privacy Statement for more information.

We need some information about you to get started:

*Submitting your details and agreeing to our terms of use enables us to connect you to a Synchron insurance specialist who will provide the quote by email or phone.


Get an insurance quote