Dubbed as Z Protect-Prestige (ZPP), the new product has been brought to the market by its subsidiary, Zurich Life Insurance (Singapore) (ZLS).
Created using research and feedback from Zurich’s distributors and existing customers, the new product meets the need for international coverage and protection versatility in Singapore, particularly among business travelers, expatriates, as well as affluent and emerging affluent segments.
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ZPP allows policyholders to maintain the policy from any location and the option to pay premiums in multiple currencies and using credit card.
Its flexible features also allow customers to adjust coverage as per the changing family, lifestyle and business circumstances.
Zurich Global Life Singapore CEO Peter Huber said, "By listening to their needs, we have been able to develop a bespoke product that is uniquely tailored to the fast-paced lifestyle of high-achieving individuals that make up our customer base."
"Through innovative products such as this, we continue to strengthen our leadership position within Singapore’s affluent segment as customers plan for their future."
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By GlobalDataA multi-currency term life protection plan, ZPP offers death and terminal illness benefit and is available in six currencies including SGD, USD, EUR, GBP, AUD and HKD, with minimum sum assured S$750,000 (US$602998.1).
Further, the policy does not require any medical underwriting for sum assured less than or equal to S$1m (US$803997.74) for age 50 years and below.
