Zurich life insurance documents and forms for Financial Advisers

Life Insurance

Documents, forms and marketing materials

Zurich Wealth Protection, Zurich Active and Zurich Sumo

PDS Updates

Life Insurance Code of Practice - minimum standard trauma definitions, effective 1 July 2017

As a member of the Financial Services Council of Australia (the FSC), Zurich is bound by the Life Insurance Code of Practice (the Code) with effect from 1 July 2017. The Code outlines the standards that we are committed to in providing life insurance services to you. The Code can be found at www.fsc.org.au.

This information updates the information set out in the Zurich Wealth Protection, Zurich Active and Zurich Sumo PDSs, all dated 15 May 2017 and the Zurich FutureWise PDS dated 1 October 2016, but only in relation to the eligible products outlined below.

Announcing our commitment to minimum standard trauma definitions for policies issued from 1 July 2017

As part of our commitment to the Code, Zurich is pleased to be able to provide policyholders with even greater certainty about the strength of their trauma insurance definitions.

In order to create a minimum standard across the market for the most commonly claimed trauma conditions, the Code now sets out minimum standard trauma definitions for the following three conditions:

  • cancer – excluding specified early stage cancers
  • heart attack – with evidence of severe heart muscle damage
  • stroke – in the brain resulting in specified permanent impairment.

At claim time, where there is a minimum standard trauma definition in the Code for your trauma condition, we will assess your claim against:

  • the applicable definition in our PDS and
  • the corresponding minimum standard medical definition in the Code that is current at the time of the insured event

so that you get the better of the two definitions.

The definitions for these conditions have been incorporated into the Code, and can be found on the FSC website www.fsc.org.au.  The definitions will be regularly reviewed and updated as necessary to ensure that any required tests, treatments and grading systems are aligned with up-to-date medical practice in Australia.  Any updated definitions will automatically apply once they are adopted into the Code.

Eligibility

Minimum standard trauma definitions apply to the first $2million of any trauma cover issued under Zurich Protection Plus and Zurich Child Cover (Wealth Protection), Zurich Child Cover (Active), Zurich Life Insurance (Sumo) and Zurich Trauma Insurance (FutureWise) on or after 1 July 2017.  They specifically do not apply to health events cover issued under Zurich Active, which provides tiered benefits for health events and is structured differently to trauma cover.  Minimum standard trauma definitions also do not apply to any trauma cover issued as part of an income protection policy.

Zurich FutureWise - new definitions, effective 15 May 2017

This information updates the information set out in the Zurich FutureWise PDS, dated 1 October 2016.  The relevant section of the PDS is the Glossary, which begins on page 64.

Zurich has made a number of changes to policy definitions to ensure that they continue to reflect modern procedures and terminology.  These definitions affect life and trauma cover, including optional trauma benefits under Disability Income Insurance.

Effective from 15 May 2017:

  • the following Trauma definitions are updated:
    • cancer
    • idiopathic pulmonary arterial hypertension (previously primary pulmonary hypertension)
  • the definition of terminal illness has been updated.

The new definitions which apply from 15 May 2017 are set out below:

cancer

The presence of one or more malignant tumours, including lymphoma (including Hodgkin’s and non Hodgkin’s disease), leukaemia, multiple myeloma and malignant bone marrow disorders, that are characterised by the uncontrolled growth and spread of malignant cells and the invasion and destruction of normal tissue.

The following cancers are excluded:

  • tumours which are histologically described as premalignant or show the malignant changes of carcinoma in situ (including cervical dysplasia CIN III and lower). Carcinoma in situ of the breast is covered if it results directly in the removal of the entire breast (including nipple sparing mastectomy). This procedure must be performed specifically to arrest the spread of malignancy and be considered the appropriate and necessary treatment
  • melanomas which are less than stage T1bN0M0
  • all hyperkeratoses and basal cell carcinomas, and squamous cell or intra-epidermal carcinomas of skin unless there is spread to other organs
  • chronic lymphocytic leukaemia less than Rai stage 1, and
  • prostatic cancers which are TNM Classification T1 or less and have a Gleason score of 6 or less.

Prostatic cancer which is TNM classification T1 or less and which has a Gleason score of 6 or less is covered if it results in the entire removal of the prostate. This procedure must be performed specifically to arrest the spread of malignancy and be considered the appropriate and necessary treatment by a medical practitioner.

idiopathic pulmonary arterial hypertension (previously primary pulmonary hypertension)
Idiopathic pulmonary arterial hypertension characterised by enlargement of the right ventricle as a result of high pulmonary artery pressure. It must have resulted in significant cardiac and respiratory impairment leading to impairment equivalent to at least Class III of the New York Heart Association functional classification system.

terminal illness
If the policy is not issued to the trustee of a superannuation fund: any condition caused by illness or injury, where despite all reasonable medical treatment, the life insured is expected to live for no more than 24 months as confirmed and certified* by:

  • a specialist registered medical practitioner treating the condition with supporting evidence of the condition, possible medical treatment and the prognosis, and
  • if required by us, a specialist registered medical practitioner approved by us who is an expert in the condition.

If the policy is issued to a trustee of a superannuation fund: any condition caused by illness or injury, where despite all reasonable medical treatment, the life insured is expected to live for no more than 24 months as confirmed and certified* by:

  • a specialist registered medical practitioner treating the condition with supporting evidence of the condition, possible medical treatment and the prognosis, and
  • a registered medical practitioner approved by us.

* The period of life expectancy, certified by each medical practitioner, must not have ended.

Zurich Income Replacement - new Trauma definitions, effective 1 September 2016 and 15 May 2017

This information updates the information set out in the Zurich Income Replacement PDS, dated 21 December 2015.  The relevant section of the PDS is the Definitions for specified trauma conditions section, which begins on page 35.

Zurich has made a number of changes to policy definitions to ensure that they continue to reflect modern diagnostic procedures, treatments and terminology.

Effective from 1 September 2016, the following Trauma definitions are updated:

  • out of hospital cardiac arrest and
  • severe rheumatoid arthritis with permanent daily life impact (previously severe rheumatoid arthritis).

Effective from 15 May 2017, the following Trauma definitions are updated:

  • carcinoma in situ
  • deafness
  • dementia (including Alzheimer’s disease)
  • early stage melanoma
  • heart attack
  • idiopathic pulmonary arterial hypertension (replaces primary pulmonary hypertension)
  • loss of hearing in one ear
  • malignant cancer and
  • Parkinson’s disease.

The definitions which apply from the above effective dates are all set out in the Zurich Wealth Protection PDS dated 15 May 2017

Zurich Income Replacement - new management fees, effective 1 March 2017

This information updates the Zurich Income Replacement PDS, dated 21 December 2015.

Part 1 of the PDS contains management fee information (refer to page 11). The amounts set out in the PDS were current up to 29 February 2016 and subsequently updated on the Zurich website on 1 March 2016.  From 1 March 2017, the management fees will be indexed in line with the consumer price index. The new management fees are as follows:

Premium frequency

Management fee payable

Annual equivalent

Monthly

$9.26

$111.12

Quarterly

$27.76

$111.04

Half-yearly

$46.30

$92.60

Yearly

$92.59

$92.59


The management fees above apply for new policies until 28 February 2018. The management fee increases each year on the policy anniversary in line with the consumer price index.

Zurich FutureWise - new policy fees, effective 1 March 2017

This information updates the information set out on page 54 of the Zurich FutureWise PDS, dated 1 October 2016.

Policy fee
A policy fee per insured person per application is also payable each year and is shown on your policy schedule. If more than one Zurich FutureWise policy is issued as a result of a single application for an insured person, only one policy fee is payable.

As at 1 March 2017, the policy fee is $98.61 per annum if the premium is paid annually or $8.22 per month if the premium is paid monthly, plus any stamp duty that is applicable. The policy fee will be adjusted each year on 1 March by the consumer price index, and will be effective from the cover start date or cover anniversary on or following 1 March.

If there is no 1 March PDS issued in any year, we will advise the updated policy fees on our website, zurich.com.au

Product Summaries

Adviser Guide

Administration forms

Underwriting forms

Marketing materials

Zurich FutureWise

Administration forms

More Administration forms for Zurich FutureWise can be found in the Zurich Wealth Protection, Zurich Active and Zurich Sumo administration forms section

Frequently Asked Questions for Advisers

What happens to my client's existing claims for Zurich FutureWise?

To make a new claim, you can fill out this online form or contact us directly at insurance.claims@zurich.com.au or on 1800 208 130.

What systems do I need to use to quote and apply?

For Zurich FutureWise please use Insurance Online. For more information on quote and apply click here. A project to migrate all products onto Zurich's platform during 2017 is underway and advisers will be kept informed on the progress of this integration project.

Will the Macquarie and Zurich application and Life Insured Statement/Personal Statement be interchangeable?

No. until late July 2017 the quote and apply process will be via two systems, Zurich's ZXpress and Macquarie's Insurance Online. This means the Life Insured Statement/Personal Statement will be virtually unchanged, and continue to be product-specific.

Can I sell to overseas residents?

Zurich only offers insurance cover to Australian residents who apply for insurance from within Australia. 

How do I obtain my commission report?

Zurich will send through commission reports for Wealth Protection, Active and Sumo products. Commission reports for Zurich FutureWise will be sent to you via email by Macquarie.

Who will pay my commission going forward?

Macquarie will administer the payment of commission on in-force business on behalf of Zurich, until the finalisation of the transfer of business to Zurich, which is anticipated to be 1 November 2017.  From early to mid 2017 all new Zurich Active and Sumo business will be written on the Zurich systems and therefore will be paid by Zurich.

Where do I access my information about previous Macquarie clients?

You will be able to access information for your Macquarie clients through Insurance Online until October 2017.

Who do I contact in regards to Zurich FutureWise, Zurich Active and Zurich Sumo claims?

Please use the contact details below.

Phone: 1800 208 130

Fax: 1800 065 145

Email: insurance.claims@zurich.com.au

Mail: GPO Box 4443 Sydney NSW 2001

Please click here to see all of our contacts

Who should I contact for Zurich FutureWise, Zurich Active and Zurich Sumo queries?

For any FutureWise, Zurich Active related queries please contact 1800 005 057 or life.insurance@zurich.com.au.
For any Zurich Sumo related queries please contact 1800 631 807 or life.insurance@zurich.com.au.
Click here to see all contacts.

Where do I send my paper application form?

Please post, email or fax your Wealth Protection, Active or Sumo applications to:

Fax: 02 9995 3797

Email: life.newbusiness@zurich.com.au

Mail: Underwriting/New Business

Locked Bag 994

North Sydney NSW 2059

 

Please post or email your Zurich FutureWise applications to:

Mail: GPO Box 5216 Brisbane QLD 4001

Email: life.insurance@zurich.com.au

Will data feeds be available through XPLAN for Macquarie clients?

Data feeds will not be available initially through XPLAN for Zurich FutureWise (Macquarie clients). But data feeds are available for Wealth Protection products, download below.

Adviser Portals

ZLife login

Insurance Online login

Adviser contacts

General enquires: 1800 500 655

Email: adviser.service@zurich.com.au

All FutureWise enquires: 1800 005 057

Email: life.insurance@zurich.com.au

All adviser contacts