Zurich Financial Services has released an upgrade to its Zurich Active product range, effective from 30 April.
A summary from Zurich advises the main product changes, other than a ‘content refresh’, relate to a full definition review which the insurer says has resulted in a number of definition changes for currency/clarity, and the addition of some new insurable events.
Features, Definitions
New health events that have been added to the severity-based trauma insurance component include:
- Advanced diabetes
- Bacterial meningitis
- Diabetes (type 1)
- Early stage chronic lymphocytic leukaemia
- Encephalitis
- Out of hospital cardiac arrest
- Severe rheumatoid arthritis with permanent daily life impact
Existing health events that have been moved into a higher benefit category (thereby paying a higher percentage of the sum insured at cliam time) include:
- Coma (from benefit category E to C)
- Diagnosis of motor neurone disease (from benefit category B to A)
- Paraplegia (from benefit category B to A)
- Severe osteoporosis before age 50 (from benefit category E to C)
- Total cystectomy requiring a urinary conduit (from benefit category C to B)
- Total mastectomy for carcinoma in situ of the breast (from benefit category D to C)
Zurich has also updated definitions to 20 insurable events:
- Cancer
- Chronic lung disease
- Coma
- Complete loss of hearing
- Complete loss of hearing in one ear
- Confirmed diagnosis of myelodysplastic syndrome or any myeloproliferative diseases
- Gastrointestinal disease
- Heart attack
- Intensive care unit (ICU) / hospital admission
- Lymphoma
- Malignant brain tumour
- Pancreas transplant / waiting list
- Permanent and irrecoverable loss of sight
- Permanent vegetative state (now permanent unresponsive state)
- Prostate cancer requiring radiotherapy, brachytherapy or radical prostatectomy
- Severe crohn’s disease
- Severe loss of binaural hearing
- Severe peripheral vascular disease resulting in amputation of the leg or entire foot
- Stroke
- Total mastectomy
Pricing
Importantly, Zurich has noted there are no rates changes accompanyig this upgrade and it emphasises its upgrade guarantee will be passed back to existing Zurich Active policyholders for any events which occur on or after the effective date of 30 April 2018.
Click here to access the new Zurich Active PDS.
