Zurich Futura is a policy that can protect you and your entire family for life. It provides financial security in case of sudden death, serious illness, disability, or accident.
Zurich Futura offers lifelong insurance coverage, and a cash sum is given to your loved ones upon the demise of the insurer. It offers various benefits to protect you from the financial impact of serious accidents or illnesses. You can adjust the protection levels and add more benefits from the available options. Hence, this from Life Insurance Bazaar, Dubai’s allows you to learn about the policy value & encashment, to ensure a secure and stress-free life for your loved ones.
Policy Value:
The policy will accumulate a policy value, which will be paid upon full encashment of the policy. The policy value will vary over time based on the premiums received, charges imposed by us, the performance of your selected funds, and any partial encashments or claim event payments made.
We will provide you with a valuation statement every six months from your policy commencement date. Alternatively, you can request a valuation anytime using the details provided in Condition 46.
How Do We Value Your Policy?
The policy value is established by the funds you’ve selected and will fluctuate according to the investments. Your policy value on a specific date is computed by multiplying the number of units in your unit account by the unit price taken into account the relevant currency exchange rates. We utilize the most recent unit price and currency exchange rate, which may vary daily.
Postponing The Addition Or Subtraction Of Units
We retain the option to delay adding units to or removing units from your policy when there are valid reasons to do so. During these instances, the unit price acquired and any relevant exchange rate will account for the postponement.
Delaying Payment
We retain the option to delay any payment to you if the fund manager has delayed payment to us for any reason. If there is a delay, we will only proceed with the payment to you once we have received it. No interest will accrue on delayed payments.
Partial Encashment:
You can request a partial withdrawal provided your policy maintains a policy value. The amount you can withdraw partially is contingent upon a minimum remaining policy value required by us at the time, which you can obtain by contacting us as outlined in Condition 46, “How to contact us.”
By Conditions 11.5, “Deferral of adding or deducting Units,” and 11.6, “Deferral of payment,” we retain the right, at our complete discretion, to postpone or decline any requests for partial withdrawal. This discretion will be exercised reasonably.
Upon approval of a partial withdrawal, we will decrease the life cover and, if necessary, aeroplane cover, critical illness benefit, or cancer cover sums insured by the partial withdrawal amount.
Full encashment:
You can request a complete withdrawal anytime, provided the policy retains a policy value. Upon receiving your request and any necessary documentation, we will liquidate all remaining units in your selected funds. We retain the absolute discretion, subject to Conditions 11.5 and 11.6, to delay or decline any complete withdrawal requests. This discretion will be applied reasonably. Upon acceptance of your complete withdrawal request, your policy will terminate.
Zurich Futura is the best term insurance for NRI as this policy is a comprehensive life insurance solution that provides robust financial security for you and your family. The policy’s value grows over time, influenced by premiums, fund performance, and partial encashments, providing a transparent and manageable way to safeguard your financial future. Zurich Futura from Life Insurance Bazaar, Dubai, stands as the best life insurance in Dubai to secure a stress-free and financially stable future for you and your loved ones.
