Zurich American Life and Zurich American Life of New York are backed by one of the 10 largest life insurance companies in the world, Zurich Life.
They have some interesting niches and could be the absolute best insurance company for you if you fall into one of these niches.
For term life insurance, they do not offer amounts under $2,000,000. They are the only company with this minimum amount requirement.
Even if you do want a $2,000,000, $5,000,000 or $10,000,000 term insurance policy, Zurich’s rates are not likely to show up in the top 10 or even top 15 best rates on any quoting system.
For example, for a 50 year old male in excellent health who wants a $2,000,000- 20 year term plan, Zurich’s rate shows up as the 29th best “preferred plus” rate in our database of rates from over 120 quality insurance companies.
For a 50 year old male in average health who wants a $2,000,000- 20 year term plan, Zurich’s rate shows up as the 18th best “Regular” rate in our database of rates from over 120 quality insurance companies.
Since Zurich “table rates” off of their Regular or Standard rates, you could assume that they also would not be good if you’ve had a health or another type of underwriting issue.
So who’s buying Zurich American term life and why?
If you’ve had breast cancer and want $2,000,000 or more of term insurance, then Zurich American Life may just offer you the best rate!!
On some breast cancer cases, Zurich will offer without a “flat extra” premium that other insurance companies will offer in the early years since treatment ended.
On some tougher heart disease cases, like for bicuspid aortic valve with more than moderate regurgitation or if you happen to have more serious type of arrhythmia for which other insurance companies have declined you, then Zurich may be your best option.
If you have a past felony conviction for a “white collar” or non-violent crime, then Zurich may be best insurance company for you.
If you want $2,000,000 or more of term life insurance and you’ve had any type of cancer, cardiac issue, past white collar criminal record or really any underwriting issues, it pays to at least get a quote from Zurich American Life.
They are offering a “table shave” or an automatic rate reduction from table B to Standard on term insurance or table C to Standard on permanent insurance.
What this means is that if other insurance companies are rating you a table B or table 2 rate on term insurance, it’s possible that Zurich may offer you a lower Standard or Regular rate.
Zurich American does also offer as low as $250,000 on their permanent life insurance products, like Guaranteed Universal Life.
So for some people who are declined for term life insurance, but only want life insurance for $250,000 or other amount under $2,000,000, Zurich’s permanent life insurance policies may be your best option.
Bottom Line on Zurich American Life
It would be in your best interest to at least get a quote from Zurich American Life if you want $2,000,000 or more of term life and you have any underwriting issues whatsoever.
If you do have more serious health issues and you’ve been declined for term insurance with other companies for amounts under $2,000,000, then it could make sense to get a permanent quote from Zurich with a guarantee to age 85 or age 90.
We have had permanent insurance rates approved on some cases that are less expensive than term life rates.
On cases that fit Zurich’s underwriting niches and even on tough cases in general, we regularly shop with Zurich to get an offer as there is no downside in doing so.
Even we have been pleasantly surprised with Zurich’s offers on cases for which we did not expect them to be aggressive.
If you’d like a Zurich American Life quote, just click on the accurate quote link above and complete the secure form and we will compare Zurich’s best case rates for you to all of their competition, including John Hancock, American General, Ohio National, Lincoln National, Pacific Life, Principal Life, Prudential and more.
Then we’ll email you with best quotes and you can decide if you’d like to pursue any of the offers or not.
You can also call us toll free at 1-800-380-3533 or click here to email us with any questions you may have.