The new offering, named ‘Continuous Care,’ aims to provide a more tailored TPD solution, enhancing flexibility and affordability for policyholders.
TPD insurance typically provides a lump sum payment if a person becomes totally and permanently disabled and is unable to work. Zurich’s ‘Continuous Care’ option goes further by specifically covering the need for ongoing care, whether from a professional carer or a family member, as well as modifications to the individual’s home or vehicle.
By allowing policyholders to adjust their coverage based on financial needs, ‘Continuous Care’ aims to make traditional TPD products more accessible. The new option is part of a broader set of updates to Zurich and OnePath’s TPD and Income Protection offerings, which include adjustments to assessment periods, enhanced rehabilitation services, and simplified definitions and premium structures.
The launch underscores Zurich’s commitment to providing innovative insurance solutions that respond to changing market conditions and customer needs
“Advancements in modern medicine, paired with significant changes to the makeup of Australia’s workforce, have led to almost 80 percent of Zurich TPD claims not requiring ongoing, continuous care,” said Jacqui Lennon, Head of Retail at Zurich.
She added “This landscape shift, combined with cost-of-living pressures, has created the need for a modern TPD solution that gives customers more control over the structure and affordability of their cover.”
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