Zurich Futura is a policy which has the ability to protect you and your entire family for your whole life. In the event of sudden death, serious illness, disability or accident it gives you and your family financial security.
Zurich Futura provides insurance cover for your whole life and once on your demise a sum of money is paid in cash to your loved ones. It provides a range of benefits which protects you from the financial impact of a serious accident or illness. It also allows you to change the levels of protection and more benefits can also be added from the existing options. Let’s explore the terms and conditions for paying premium with Life insurance bazaar, the best life insurance in Dubai to have a secured and stress free life.
Life Event Increase Option:
This is only applicable if it is shown in your policy schedule and can be applied for you. For the life events shown below, you can increase your benefits with no further underwriting needed. This option can be used as many times you may like if you provide the following.
- The sum insured for all life event option increases for your policy does not exceed the lower of 25% of the original benefit sum insured or USD 100,000 or relevant currency equivalent)
- This option should be used before the 55th birthday of the life insured. This would apply to the oldest life insured.
- If you have not made a claim or are not eligible to make a claim on the policy.
- If the increase is into effect when the life event happens within 90 days
- The evidence must be sent to us when needed.
Changing The Benefits Or Benefit Sum Insured:
We have the right to alter or decrease any of the insured benefit sums as outlined in the Policy Terms and Conditions. At any coverage anniversary or normal premium due date, you have the option to decrease any benefit sums or remove any additional benefit without the need for underwriting evidence, provided they meet any minimal benefit amounts set by us. Conversely, you could request an increase in any benefit sum or the addition of any additional benefits to the policy, subject to our underwriting requirements and any maximum advantage amounts applicable at that time.
You have the option to request an increase in any insured advantage sum or the addition of any additional benefits to the Policy. This is contingent upon any underwriting proof we may also need and is subject to any maximum benefits amounts in effect at that time.
We will evaluate the underwriting proof given and will continue to:
- Accept the increase or addition at standard fees,
- Apply special terms to the increase or addition,
- Apply exclusions to the increase or addition.
- Postpone or decline the increase or addition.
- Once accepted, any increase to a Sum Insured or the addition of a benefit will become effective from the 1st of the month following our decision. Any related Benefit Charges will commence from this effective date.
The Units And Funds:
Units:
The Policy operates on a unit-related basis, that means we keep a Unit account to track your Policy Value on a daily basis. However, the units do not give ownership of the underlying assets of the funds, as they continue to be under our ownership.
Your premiums are utilized to allocate Units in your selected funds to the Unit account. We then deduct Units from the Unit account to cover Policy Charges, partial or full encashments, and in certain circumstances, to settle claims as outlined in Appendix C.
We determine the dates on which Units are deducted from your Unit account to cover our charges. Following our acceptance of your instructions and receipt of relevant premiums, we right away upload or deduct Units out of your Unit account.
The calculation of Units delivered or deducted is primarily based at the Unit prices and exchange rates effective on the transaction date. In instances wherein a transaction involves multiple funds, Units are allocated or deducted across all funds on a single transaction date.
Any fractional Units as a result of a transaction are rounded to 3 decimal places, with any rounding adjustments accruing to us.
The Funds:
Your Policy Schedule will detail your initial selection of funds and investment strategy, which can be adjusted based on your instructions.
Typically, Funds are priced daily on each working day within the Isle of Man. Comprehensive information regarding Funds may be accessed on www.Zurich.Ae. We maintain the absolute discretion to alter the available funds at any time.
As your trusted insurance provider, Life Insurance Bazaar will remain committed to provide financial security to you and your loved ones. With our coverage options and premium choices we strive to make sure that you are protected against various uncertainties. As the best life insurance in UAE we continue to provide reliable support and personalized solutions customized to your needs.
