Zurich International Life New Vista Plan

When it comes to saving for retirement,few can afford not to start saving now.

For most of us, retirement is something we look forward to – and we want to be able to enjoy those things we've spent years dreaming of and planning for.

Zurich International Life also know that it's tempting to spend today, and not to save for the future.

Saving is about discipline and habit, and by saving now you can open up a world of opportunity for your retirement. All around the world, governments are realising that they may not be able to provide state pensions in the future. Populations are living longer and as a larger percentage of the population reach retirement, there are fewer workers supporting their growing numbers.

The number of working people supporting those in retirement in the developed world will decrease dramatically by 2025. For example, in the UK in the year 2000 there were approximately four people aged 15-64 supporting every pensioner. By 2025, there are expected to be only three supporting workers per pensioner Dependency ratio: Percentage of population aged 65+ to the population of working age.

The Association of British Insurers expects this trend to continue. The number of people of working age supporting those in retirement in Europe will halve in the first half of the 21st Century. At present there are around four people of working age supporting each pensioner. By 2050, it is expected that there will only be just over two people supporting each person of retirement age.

Across Asia, Europe and North America, governments are finding that an increasing amount of their national wealth is being spent on state pension provision. In the private sector, many companies are being forced to place restrictions on their pension funds to protect existing members and pensioners.

With state and corporate pension schemes under strain, personal financial planning now is the sensible approach to ensuring that you can spend your retirement as you would wish. With a Vista from Zurich International Life, you can take control of your retirement plans and secure your financial future.

When taking out a Vista policy with Zurich International Life, you are establishing a regular savings scheme to build up a fund to pay for your retirement. You choose how often and for how long you wish to save, and whether to take out the policy on your own or with someone else.

Vista – with a view to life

Flexibility

Vista is designed to meet your long-term goals while accommodating life’s unexpected turns. ZIL recognise that at times, there may be more pressing needs for your income, and so you may, at any time (following 18 months’ premium), reduce your payments (subject to the minimum premiums) or even stop paying into your policy for up to three years. The savings you have already made will remain working for your future, until such time that you can start saving regularly again.

You can save with Vista on a monthly, quarterly, half-yearly or yearly basis. And if you have some additional income you would like to invest into your policy, you can also make ad hoc savings. If after three years you have not restarted your premiums, ZIL will apply a charge to your policy.

Protection

Unlike most savings schemes, with Vista there are additional insurance based benefits that you can choose. This means that as well as providing you with a sophisticated investment vehicle, your Vista policy can offer you some valuable financial protection.

The consequences of death, accident or serious illness can have a profound impact not only on your immediate circumstances but also on your future plans. Vista's range of benefits is designed to help you and your dependants financially, maintaining your original goals for your savings. Click here for more details on the additional benefits available on the policy.

Life with Vista

To illustrate the flexibility of Vista, consider the following example of 35-year old Mr Johnson above and his 37-year old wife. Although he is in his company’s pension scheme, Mr Johnson wants to ensure that when he retires, he can afford to do all the things he has planned. To help do this, he takes out a Vista with life and critical illness cover on himself and his wife, together with hospitalisation cover for himself.