Zurich has launched an investment linked protection solution on its platform, which will allow policy holders to protect platform investments from stock market fluctuations.
Investment Life Cover (ILC), which will launch on 6 January 2014 as the first in a series of new investment-linked protection solutions planned for the next 18 months, is an investment-linked life insurance policy which requires no underwriting or medical evidence.
It is based over a five-year period and protects the policyholder's eligible platform investments so that in the event of their death Zurich will pay out to the beneficiaries the difference between the original investment (less any withdrawals) and the value at the point of death.
Zurich UK Life head of retail David White said: "This latest innovation drives at the heart of our ambition to help advisers and their customers manage risk.
"We know making any investment can be a significant undertaking and we hope offering this uncomplicated solution will help those that require the additional cover."
Zurich has waived any charges for the product initially but will charge investors 0.1% of their covered investment per year from January 2015.
