Zurich

Zurich is one of the names most UK adults meet through insurance and pensions: a large international insurer whose UK business sells life insurance, critical illness cover, pensions, investments and a wide range of general insurance for homes, cars, businesses and charities¹. Some of what it sells is bought direct, but a significant part of its range, including many pension and investment products, is only available through a financial adviser or broker¹.

If you hold an old policy, the name on your paperwork may not say Zurich at all. The firm previously traded as Eagle Star, and its regulatory entry lists trading names including Eagle Star, Eagle Star Life, Sterling and Sterling Assurance, names that appear on many older with-profits and endowment plans². Zurich also took over the old Allied Dunbar business, and some parts of its Wealth business were later sold to the Embark Group, so the history of a single policy can involve several firms².

What Zurich offers: life cover, pensions, investments and insurance

Zurich's UK range falls into four broad groups: protection, pensions and retirement, investments, and general insurance¹.

Protection. Zurich Life Insurance comes as a life-only policy or as life insurance with critical illness cover, on a single or joint basis⁶. Critical illness cover is only available as part of a Life Insurance and Critical Illness policy, and the policy can include cover for your children⁷. Policies can be placed into trust, which affects who receives the money from a claim⁸. Zurich also offers a support service alongside its cover: an independent health and wellbeing service provided by its partner Workplace Options, plus a free, professional counselling service available around the clock for customers and their families⁶. More detail on how this kind of cover works is in our guide to protection insurance.

Pensions and retirement. Zurich offers personal pensions, executive pension plans and retirement planning funds, and it administers the options you have at retirement: taking a lump sum, buying an annuity, or transferring out to another provider for drawdown⁹. It also runs with-profits funds, both conventional and unit linked, which many older pension and life plans are invested in¹⁰. How pensions work generally, including the tax rules, is covered in our pensions guide.

Investments. Zurich runs a large range of unit-linked funds, which is where most of its investment and pension money is held¹¹. It also offers investment bonds, including with-profits bonds¹⁰. Our investing guide explains how funds and bonds work.

General insurance. Zurich sells home, motor, business, charity and private clients insurance, including trustee indemnity cover for charities¹. Its travel insurance is sold through partner brands rather than direct: Zurich is currently not offering travel insurance quotes or policies itself, and existing policyholders claim through the partner brand they bought from¹². Our insurance guide explains the main types of cover.

How charges are taken from Zurich plans and funds

Charges on Zurich plans are not a single number: they are taken in different ways depending on the plan, and the detail lives in your own documents. Zurich explains the charges for your investment in your plan's key features and terms and conditions, and in your latest annual statement, so those documents, not a general price list, are the place to look¹³.

There are three main methods. Sometimes Zurich takes a charge from the money you pay in, which means you receive fewer units when you invest. Alternatively it takes a charge monthly by cancelling some of your units. And it may take an annual charge, which is a percentage of the fund's value, worked into the unit price and taken daily¹³. A plan can use more than one of these.

Charges can change over the life of a plan. Zurich lists the circumstances in which it may change what you pay: where the plan's terms and conditions allow it to use discretion, where administrative, regulatory or legal requirements change, where financial advice rules change, where tax rules change, or where external fund managers increase their own charges¹³. Some older plans carry their own exit conditions: some investment bonds have a fixed charge if withdrawals are made within the first five years, and some pension plans started before 1996 may incur a charge if benefits are taken or the plan transferred earlier than the date originally selected¹⁴.

For with-profits plans, the way returns are delivered is different again: through annual and final bonuses rather than a unit price. Your yearly with-profits bonus statement is the document that tells you which fund your plan is in and what has been added¹⁰. Zurich publishes current figures for its with-profits funds on its own site, and those change over time, so check there for today's numbers.

Life cover reviews: when payments or cover may change

If you have a Zurich life insurance or critical illness policy, the cover and the payments you signed up for are not always fixed forever. Zurich reviews its life cover, and the cost of cover depends on things like life expectancy, survival rates and investment performance¹⁶. Sometimes, following a review, your payments need to increase to support the same level of life cover. If you do not want to pay more, the alternative is that your payments stay the same and your life cover is reduced¹⁶. Zurich writes to customers when this applies, so a letter about a review is not necessarily a sign of a problem with your policy.

If you ever consider cancelling and taking out a new like-for-like policy, be aware that new premiums are based on your age, health and lifestyle at the time, which means they are likely to be higher¹⁷. Different products also have different levels of flexibility¹⁷.

Many policies can be adjusted as your circumstances change, and what is possible depends on the policy. For policies whose number begins with "PR", you may be able to increase or reduce cover or adjust how long the policy runs, and some policies allow increases at certain key life stages without Zurich needing extra information about your personal circumstances¹⁸. For policies that do not begin with "PR", you can usually change your cover without giving more details about your health or lifestyle, though this may depend on your age, and typical triggers include increasing your mortgage, getting married or entering a civil partnership, getting divorced or dissolving a civil partnership, becoming a parent, or getting a salary increase of 10% or more¹⁹.

Zurich doesn't give advice, and some products need an adviser

A point that catches many people out: Zurich does not give financial advice. Its own words are plain about it: "We can't give you advice but we can help you find a financial adviser"²⁰. For some of Zurich's products you will need to get advice first to see whether the product is suitable for you, and Zurich does not employ financial advisers²⁰. Zurich is not authorised to give advice, and it is not responsible for the content of external websites it points you towards²⁰.

This has practical consequences at retirement in particular. Zurich does not offer drawdown, so if you want to keep your pension invested and draw an income, you will need to transfer your savings to another provider. Where you cannot get financial advice, Zurich can put you in touch with a third party called HUB Financial Solutions, which can offer you a product that may meet your needs on a non-advised basis²². On its Executive Pension Plan, Zurich states that neither it nor the trustees can provide financial advice, and that anyone needing advice will have to speak to a financial adviser²³.

The same principle applies to claims. Tradesmen visiting your home after an insured incident have no authority to advise what is, or is not, covered by your policy, so a builder's opinion is not a coverage decision²⁴. If you are choosing between protection products, our protection insurance guide sets out the options and what each tends to suit.

Switching funds and how units are bought and sold

Most Zurich plans let you move all or part of your investment to a different fund, or change which funds your future payments go into²⁵. Switching funds can help make sure your investments match your goals, and there are usually no charges for switching: Zurich's current position is that there are no charges for switching funds¹¹. The exceptions are worth knowing. On the Executive Pension Plan, you can switch between investment funds but restrictions and surrender values may apply to with-profits funds²³. And as noted above, some pension plans started before 1996 may incur a charge if you take benefits or transfer earlier than the date you selected¹⁴. For its retirement planning funds, Zurich asks you to complete a fund switch form and post it to its Swindon office²⁶.

How a switch actually happens depends on how your fund is priced. Some funds have one unit price; others have two, a buying or "offer" price and a selling or "bid" price, with the offer price higher than the bid. That difference, the bid/offer spread, is itself one type of fund charge²⁷. The unit price is worked out by dividing the total value of the fund by the number of units in it, and prices are rounded down to three decimal places²⁷. Transactions use either "forward" pricing, the next available price, or "historic" pricing, the most recently calculated price²⁷.

Timing matters. Zurich aims to process instructions as soon as reasonably practical once it has everything it needs: the same day if they arrive before its cut-off time, the next working day if after²⁵. There may be times when Zurich cannot buy units for you, usually because of something outside its control such as trading being stopped in certain shares or a short stock market closure, and it may use its discretion to delay selling units to make sure all investors are treated fairly when markets are unpredictable²⁵. In extreme conditions it may use earlier valuations adjusted for market changes, pause pricing or dealing, or allow the fund to act differently from its usual investment strategy²⁷. Where there is a conflict between customers joining or leaving a fund and those staying in it, Zurich will usually put the interests of those staying first¹¹.

It also helps to know what you own. In a unit-linked fund, the underlying assets are owned by Zurich, and what you own is units²⁸. Zurich sets and manages the investment strategy where it is the fund's manager, but where your fund invests in an external fund it does not control how that fund is managed and is not responsible for the external manager's decisions, though it still checks performance and volatility²⁸. If Zurich closes a fund, its aim is to move your investment into a reasonably similar fund and, where possible, to let you know in advance¹¹. If a pricing mistake is made and it is "significant", Zurich will pay compensation to customers and the fund if needed²⁷.

Taking a Zurich pension: drawdown, annuities and Pension Wise

When you approach retirement with a Zurich pension, there are several ways to take your money: an annuity, drawdown, a lump sum, or leaving it invested. Not all of these are available direct from Zurich, so you may need to transfer to another provider for some options⁹. Other options may be open to you if your life expectancy is less than 12 months, or if a health condition means you can no longer work⁹.

Before any of this happens, there is a step the rules require. Zurich must offer to book an appointment with Pension Wise before you take retirement benefits, and also if you are aged 50 or over and transferring out to access retirement benefits. You must confirm to Zurich that you have received that guidance, or opted out of accessing it, before it can proceed with any claim⁹. Pension Wise is free³⁰.

On annuities specifically, Zurich is usually not the seller. In the majority of cases you cannot purchase an annuity directly from Zurich, but it can put you in touch with HUB Financial Solutions to search the market²⁹. Your annual pension statement contains an illustration estimating the income you can expect in retirement if you bought an annuity²⁹. Features such as protecting income against inflation or providing an income for a spouse on death increase the cost and reduce the regular income²⁹. On some older conventional with-profits plans, such as the Executive Pension Plan, you have the option of guaranteed rates under the plan to buy your pension²³.

For lump sums, the position depends on the plan. In the majority of cases you will have to claim your savings as a single lump sum, though you can claim as a series of lump sums if you have already taken at least one lump sum from your plan³¹. Zurich's retirement planning funds list the same three routes: a cash lump sum, an annuity, or flexi-access drawdown²⁶. Because Zurich does not offer drawdown itself, that route means transferring out²². Free, impartial help is available from Pension Wise and MoneyHelper before you decide³⁰.

Making a claim with Zurich

Zurich's stated approach is that you can make a claim whenever and wherever you want, using the communication channel of your choice and at a time that suits you³². It has over 650 in-house claims staff, aims to respond within 24 hours for major losses, and can make interim payments so customers do not experience financial difficulties while a claim is settled³². Its published commitments include settling straightforward property claims of £3,000 and under within 24 hours where possible, and authorising a cash settlement the same day for an accidental damage claim to a vehicle if you provide an estimate or invoice for repairs under £2,500³². When you make a claim you also get access to a free and confidential health and wellbeing service³².

Motor claims can be made online through the Zurich Motor claims portal, by phone, or via a windscreen repair portal operated with National Windscreens, and you can keep in touch by live chat on WhatsApp, text or SMS, or by calling³³. Zurich will ask for your policy number, an account of the incident including where, when, who was involved and any injuries, details of the damage including pictures, and details of any emergency services involvement or crime reference number³³.

Home claims ask for more: your details and policy number (and schedule if the policy was placed through a broker or intermediary), the policyholder's date of birth and five year address history, payee details including VAT status, proof of ownership, incident details, digital photos of the damage, details of any responsible third party, a crime reference number if the police were involved, and confirmation of repair costs such as one written estimate³⁴. Zurich aims to settle straightforward claims of £3,000 and under within 24 hours where possible³⁴. If the damage is covered by your policy, Zurich will reimburse you for the cost, less any policy excess that may apply²⁴. Most contents items are covered on a new for old basis, except clothing and household linen where deductions for wear and tear may apply, and most policies carry a wear and tear exclusion: damage that happens naturally over time, such as defective rendering or general roof maintenance, is not covered³⁴. Guttering in good condition broken by a storm would be covered; worn guttering that breaks over time is the policyholder's to replace³⁴.

Life insurance bereavement claims are quickest through Zurich's online claims form. You will need the policy number, the original death certificate or coroner's interim report, and details of the deceased's estate including the will, beneficiaries and surviving family³⁵. Payments on the policy stop from the date you notify Zurich of the bereavement, and after the claim is settled cover under the policy usually ends, with some exceptions by policy type³⁵. Money due for a valid claim is paid to the relevant beneficiaries' accounts, or in line with the trust if the policy is held in trust, possibly to a trustee account or named beneficiaries³⁵.

Old Allied Dunbar, Eagle Star and Sterling plans

A great many older UK policies are administered by Zurich under names it no longer markets. The regulatory register lists the firm's trading names as Zurich Life, Zurich, Sterling Assurance, Sterling, Eagle Star Mortgage Shop, Eagle Star Life, Eagle Star Direct and Eagle Star, and its previous name was Eagle Star Life². Allied Dunbar plans are also part of the Zurich history, and some parts of Zurich's Wealth business were sold to the Embark Group, a transfer that brought no change to the cover, the amount paid or the way plans are serviced³. If your paperwork says Eagle Star, Sterling or Allied Dunbar, the plan is likely still administered by Zurich, and the policy number is the key to finding it.

With-profits plans need particular care, because Zurich runs more than one with-profits fund and your plan could be invested in either. You need to know whether you have a conventional or unit linked plan, and some plans could have invested in either fund¹⁰. Zurich's advice is to look at your yearly with-profits bonus statement to make sure you choose the specific information for your plan¹⁰. The funds differ in structure: the 90:10 fund invests in fixed and variable interest investments, shares, property and cash, while Series 4, 5, 6, 8 and 9 of the unit linked range invest in the 100:0 fund¹⁴. Zurich publishes an annual report for the with-profits business, most recently in June 2026 with the next issue due June 2027¹⁴.

If you cannot find a policy, the first place to look is your paperwork: the policy number is on your annual statement or policy documents⁸. Zurich's MyPlans service lets you view details of your plans and policies, find out about additional policy features, update contact details and reduce paper documentation⁸. If Zurich has lost contact with you, it may send a tracing letter. Genuine tracing letters are sent by post on Zurich branded paper and include a pre-paid envelope, and they deliberately contain little detail because Zurich wants to verify your identity before providing information about your plan³⁶. Some policies, including endowments, with-profits whole of life plans and policies ending in certain letter codes, are already registered and Zurich is required to obtain proof of registration before it can act³⁷.

Fake Zurich bonds and websites to watch for

The Zurich name is actively used by fraudsters. Zurich publishes a list of fraudulent websites it is aware of, including addresses such as zurichplc.com, zurichfixedrates.com, zurichplc.co.uk, zurichplc.co.uk, Zurichglobalrelationshipmanagement.com, zurichplc.info, zurichplc.online, zurichplc-investments.com, zurichfinanceplc.co.uk, Zurichinvestmentsuk.co.uk, Zurichinvestmentsuk.com, zurich-insurancegroup.com, Zurich-ig.com, zurichisg.com, zurichicg.com, Zurichmco.com and Zurichisg.co.uk²¹. It is taking action and liaising with the authorities to get the fake sites shut down²¹.

The typical product in these scams is a fake Zurich Investment Bond or other fake fixed rate investment, described as an "investment grade Bond" producing different fixed rates of return, and the fraudsters have produced fake documents described as the "Key Features of the Zurich Bond and Managed Investment Bond"²¹. A related warning sign is that Zurich does not employ financial advisers, so anyone claiming to be a Zurich adviser offering you a bond is not genuine²¹.

The Bank of England warns that fake videos and social media adverts impersonating well known figures are not genuine³⁸. If an "investment" arrives out of the blue offering a fixed return in a familiar brand's name, the address can be checked against the genuine zurich.co.uk site before anything is shared. Our scams and fraud guide covers how these schemes work and where to report them.

Complaints, the ombudsman and how your money is protected

To complain to Zurich, start by contacting your usual Zurich contact, your broker or your insurance intermediary, or use the general insurance complaints form, or write to the Zurich Customer Care Team⁵. Zurich's complaints page asks you to select the relevant area: there is one route for Car, Home, Travel, Zurich Private Clients or Business insurance customers, and a separate details and procedures route for complaints about life insurance or pensions and investments products³⁹. Complaint contact details and procedures are also printed on your policy documentation, and complaints about how your personal information has been handled are dealt with under UK GDPR³⁹.

If Zurich cannot resolve your complaint, the Financial Ombudsman Service can help with complaints about an insurance company or a claim⁴⁰. The ombudsman is free to use and can look at whether Zurich treated you fairly, not just whether it followed its own rules.

On the question of safety, the UK business is a substantial, regulated firm. It is authorised by the FCA, appears on the Bank of England's list of UK insurers authorised to carry out contracts of insurance, and is an active registered company². It belongs to the Association of British Insurers³⁶. Its parent group is Zurich Insurance Group Limited⁵. General insurance customers have the protection of the ombudsman and the FCA's rules on fair claims handling; the ombudsman can also consider complaints about other financial products, and our consumer protection guide explains what the FSCS and other safeguards cover for each type of product.