Zurich extends age limit to 70 on Life Cover plan

The head of retail wealth propositions for the life and pensions provider said the decision followed the chancellor’s Budget announcement on pension flexibility.

Mr Peters said the changes would mean more people remaining invested for longer, and would mean they required more advanced protection options.

Mr Peters added: “This extends our Investment Life Cover to even more customers, allowing those up to the age of 70 to take out the five-year plan. It is part of our commitment to roll out a suite of simple and easy to understand investment-linked protection solutions.”

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Zurich’s Investment Life Cover was launched earlier this year for advisers’ customers looking for a simple protection solution for their investments.

The product does not involve underwriting or medical evidence and the cover is based over five years.

Adviser view

Tom Binstead, director of employee benefits for Stafford-based Bank House Corporate, said: “We have not used this product, but extending the age of cover would seem like a good move.”