I have life insurance through my superannuation. Why do I need additional insurance?

 

In many cases life insurance through super is not tailored to your individual circumstances but rather based on a formula. This often means the amount of cover people have through super is not adequate to cover your personal situation, such as clearing mortgages and other debts, dependent needs and everyday living expenses that otherwise would have been covered by your income.

 

I'm healthy. Why would I need life insurance now?

 

Carrying the extra risk when you are young is an option but when you have family and commitments it’s a different consideration. You can get cover at a lower rate when you are healthy with low or no medical requirements. This changes with age, stress and your own medical history. You may no longer be eligible for the cover later when you "need it".

 

I'm self-employed, do I need insurance?

 

Self-employed people face similar needs in many instances to employed people - with a few additional challenges. Self-employed people may have business partners, personal guarantees on business loans as well as the standard mortgage and dependents to consider. In addition, many self-employed people will find that their superannuation fund may not provide insurance.

 

Questions about premiums

 

How do you calculate Ezicover premiums?

 

Depending on the product, the following criteria may be used when calculating Ezicover premiums:

 

• level of cover

• age

• gender

• smoking status

• occupation

• health

• pastimes
   

Your premiums include any stamp duty charged by State Governments as well as any other taxes that may be levied by State or Federal governments.

 

How can I pay for my Ezicover policy?

 

Premiums are payable via credit card or direct debit from your Bank, Building Society or Credit Union account. Direct Debits from your financial institution may incur an additional fee.

 

Are my premiums guaranteed?

 

Premium rates are not guaranteed and can change from time to time. Any change, however, will affect all policies in the same category, not just an individual policy.

 

Who receives the benefit payments for my Ezicover policy?

 

Depending on which Ezicover policy you have, benefits are payable to you or your estate.

 

If you want the benefits to be paid to one or more beneficiaries nominated by you, you can contact us to set up a nomination.

 

Questions about Ezicover policies

 

When does my cover begin?

 

Your cover begins when we accept your application and issue you a Policy document.

 

Am I covered if I go overseas?

 

Your Ezicover policy provides you with cover

 

24 hours a day, seven days a week, world wide.

 

Is there a cooling off period?

 

If after receiving your Policy document you wish to cancel for any reason, you have 30 days to do so. Any premiums or charges paid will be fully refunded (unless you have made a claim). To cancel please advise Zurich in writing and return your Policy document.

 

Do I need to have a medical examination?

 

No medical examinations or tests are required at the time of the application. In the event of a claim, as part of our assessment process, we may require additional evidence or we may do a full review of your medical records.

 

What happens if I don’t pay my premium?

 

We can cancel your policy if a premium remains unpaid for 30 days after it was due. This means you will not be covered and you cannot make a claim.

 

How do I make a claim?

 

Every claim we receive at Zurich is handled promptly and with sensitivity. If you, or your estate, need to make a claim, please call us as soon as possible after an insured event has occurred on 131 551.

 

What happens if I have a complaint about my policy?

 

We are dedicated to providing exceptional customer service. If you are unhappy about any aspect of your policy, please contact us on 131 555. We will acknowledge all complaints within 5 days and we aim to resolve your complaint within 45 days (or up to 90 days if you agree). If you are not satisfied with our response or we haven’t resolved the complaint within 45 days (or any extended period you approve) you can raise the matter with the Financial Ombudsman Service Limited, GPO Box 3, Melbourne, VIC 3001. The telephone number is 1300 780 808, or email info@fos.org.au