Switzerland’s multi-line insurance provider Zurich Insurance Group has rolled out a new investment-linked protection solution for its retail platform.
Known as Investment Life Cover (ILC), the new solution is designed specifically for advisers’ clients who require a simple protection solution for their platform investments.
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ILC, which is scheduled to be launched on 6 January 2014, has been developed to offer straightforward life insurance, instead of underwriting or medical evidence.
The life cover is based over a five-year period and will protect the policyholder’s eligible platform investments by paying out the difference between the original investment and the value at the point of death to the beneficiaries.
According to Zurich, the charge for ILC will be waived for customers during 2014, and from January 2015, a 0.1% annual charge will apply to the eligible investment amount.
Zurich UK Life retail head, David White, said: "Today’s announcement is the start of a whole suite of investment-linked protection solutions which will be market-leading and demonstrate our commitment to protecting people’s futures."
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