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Zurich is now offering intermediaries and their clients the option to select critical illness cover at a lower level than the life cover also offered within the plan. This option allows customers with limited budgets to protect their mortgage fully against the risk of death whilst retaining some element of critical illness cover.
Zurich has also repriced its term assurance and critical illness cover, in particular its integrated income protection benefit. This benefit can be selected alongside life cover, life and earlier critical illness cover and standalone critical illness cover. When purchased with either of the critical illness benefits, the cost of the integrated income protection is up to 30% cheaper than when purchased with life cover.
Zurich has also increased its non-medical underwriting limits to ease the underwriting process and speed time to issue.
The maximum sum assured for critical illness cover for both personal and business cover has been increased to GBP1.5 million and GBP2 million respectively.
Zurich is now also offering customers free cover for whole life plans being used for IHT mitigation purposes. This facility ensures that if the customer was to die during the free cover period, a cash sum of up to GBP1 million would be paid out.
Peter Hamilton, director of protection management at Zurich UK Life, said: "Since the launch of our interactive underwriting service at the turn of the year, we've been delighted with the increased volume of protection business coming through to us and we'd like to thank intermediaries for the support they've given us. We're on a journey of continuous improvement - we hope this latest range of changes demonstrates that."
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