Zurich Vista is a regular savings plan from Zurich International Life, sold to expats through financial advisers in several countries. It is a long-term, unit-linked plan with front-loaded charges, and it is one of the plans we are most often asked to review, usually by someone who wants to know what it costs and what stopping would mean. This page explains how Vista works, what it charges, what happens if you stop, and how to judge whether it suits you.
It is general information for UK expats, not personal advice. Vista is issued under slightly different terms in different countries. The figures below come from Zurich’s Vista key information document for its Qatar branch, effective from 1 January 2020 (version MSP13895, 06/22). Your own policy schedule and key features document are what count, so check every number against them.
This guide sits under our section on regular savings plans for expats. You can see every plan we cover on our expat savings plan reviews page.
Zurich Vista at a glance
| Feature | Summary |
|---|---|
| Provider | Zurich International Life Limited, Isle of Man |
| Type | Unit-linked life insurance policy, regular or single premium |
| Status | . Zurich’s UAE savings page no longer lists Vista and now shows a Regular Savings Plan and Global Choice, so check whether Vista is still sold where you live |
| Minimum term | 5 years. The policy must end before the life insured’s 80th birthday |
| Minimum regular premium | USD 300 a month in the Qatar document |
| Single premium | Minimum USD 12,000, with additional contributions from USD 6,000 |
| Main charges | Expense recoupment of 4% a year, a monthly policy charge, and a 1% yearly management charge, plus fund charges |
| Bonuses | None in the 2022 Qatar document. The 2019 UAE key features document describes a welcome bonus and a loyalty bonus |
| Early exit | Fixed USD 1,000 plus a variable part, on regular premium policies surrendered before maturity or the 25th anniversary |
| Compensation | Isle of Man scheme, up to 90% of Zurich’s liability |
What is Zurich Vista?
Vista is a unit-linked life insurance policy. You pay a regular premium or a lump sum, and Zurich invests it in the funds you choose. The value of the policy rises and falls with those funds, and there is no guaranteed return. You can pay monthly over a term of at least five years, or invest a single premium, and you can add further contributions later.
Zurich International Life is part of the Zurich Insurance Group and is based in the Isle of Man. Vista is not available to US residents or nationals. The Qatar document describes it as intended for investors aged 18 to 74, and says it is not Shari’a compliant.
Zurich has also sold an earlier regular savings plan called Futura, which some clients still hold. Read our Zurich Futura review.
Who Vista may suit, and who it may not
It may suit you if:
- You can commit to paying for the full term and have an emergency fund held separately.
- You want a disciplined way to save towards a goal many years away.
- You want a choice of funds in a plan from a large insurance group.
- You have compared the total cost with simpler options and still prefer this structure.
It may not suit you if:
- You might need to stop paying within the first few years, because the early exit cost is high.
- You want easy access to your money.
- You move country often. Charges and availability can change with residence.
- You were drawn mainly by an adviser’s recommendation, without seeing the total cost in money.
How the plan works
Premiums and term. You choose a term of at least five years and pay a regular premium throughout it. In the Qatar document the minimum regular premium is USD 300 a month for the whole term, and the policy must end before the life insured turns 80. Premiums can be increased later, which starts a fresh contribution period for the increase.
Currency. The document is written for a US dollar policy and does not list every currency Zurich offers, so ask which currencies are available where you live. Paying in a different currency from the policy, or taking proceeds in one, attracts a 1% exchange margin in Zurich’s favour. Switching between funds in different currencies costs 0.175% of the amount switched. If your income is in Hong Kong dollars or Malaysian ringgit, these currency costs and the currency risk deserve thought.
Funds. The funds cover equity, bond, cash and mixed-asset options with risk ratings from 1 to 5. Zurich also offers mirror funds, which carry an extra 0.75% a year on top of the underlying fund charges. Fund charges are taken inside the fund price, so they never appear as a separate line on your statement. They are as important as the plan charges.
Life cover and extras. Up to two lives can be insured. Without extras, Zurich pays out the policy value on death. You can add life cover of up to six times the yearly regular premium, capped at USD 360,000 in the Qatar document, and a waiver of premium benefit. Both are charged. Accidental death cover of up to USD 50,000 is included at no charge.
Charges explained
Vista charges are spread across several items. These are the main ones from the Qatar document.
| Charge | How it works |
|---|---|
| Expense recoupment | 4% a year, taken monthly from regular premiums during the initial contribution period, usually the first 18 months or after a premium increase. It is deducted for up to 25 years or the policy term, whichever is shorter |
| Monthly policy charge | USD 8.25 a month |
| Yearly management charge | 1% a year of the policy value, deducted monthly |
| Single premium charge | Up to 7%, deducted before the money is invested |
| Fund charges | Set by the fund managers and built into fund prices |
| Zurich mirror fund charge | 0.75% a year, mirror funds only |
| Paid-up charge | USD 10 a month once regular premiums stop |
| Currency charges | 1% exchange margin, and 0.175% on currency switches |
| Credit card charge | 1% of each premium paid by card |
The expense recoupment is the one to understand. It is 4% a year of the regular premiums, but it is taken for up to 25 years or the policy term, not just the first 18 months. The initial contribution period is when the premium is first subject to it. Over a long term, this charge, the 1% yearly management charge and the fund charges together are a substantial annual cost. Ask for the total cost over the full term, in money, before you sign.
An illustrative example. A saver paying USD 500 a month pays USD 6,000 a year. A 4% recoupment on that is USD 240 a year. The 1% management charge on a plan worth USD 30,000 is USD 300 a year, and the monthly policy charge adds USD 99 a year. Fund charges come on top. These are illustrations of how each charge is calculated, not a forecast or a total.
Adviser fees. Any fee agreed with your adviser is separate from these charges and may be taken from the plan. Ask for it in writing, in money, before you sign. This applies to us as much as anyone.
Bonuses
Bonus terms depend on the version of Vista. The 2019 UAE key features document describes a welcome bonus, paid during the first 12 months with the amount depending on how much you save, and a loyalty bonus paid every five years and at the end of the plan, on condition that all expected regular savings are received. It also refers to a maturity bonus. The 2022 Qatar document mentions no bonus. Bonuses are paid for by the charges and, as the surrender charge above is calculated on premiums including welcome bonuses, they can be clawed back if you leave early. Ask for the bonus terms in your own policy conditions.
Stopping, pausing and surrendering
Cancelling in the first weeks. You can cancel within 30 days of receiving the policy documents. Zurich refunds the premium paid, less any fall in the value of the investment.
Full surrender. If you surrender a regular premium policy before maturity or before the 25th policy anniversary, a surrender charge applies. The 2019 UAE key features document describes it as a fixed USD 1,000 plus a percentage of the regular premiums paid in the initial contribution period, including any welcome bonuses. The percentage depends on the term and the year of surrender. Its illustrative examples start at 100% in year 1 for every term. On a 5-year term it is 14.84% in year 2, falling to nil by year 5. On a 10-year term it is 39.58% in year 2, falling to 23.49% in year 10. On a 25-year term it is 78.91% in year 2 and 74.16% in year 5. These are examples only, so ask Zurich for a written surrender value for your policy. You may get back less than you paid in.
Stopping payments. The document does not describe a pause option. If regular premiums stop, the policy can become paid up with a USD 10 monthly paid-up charge, or it can lapse. Ask Zurich exactly what happens to your plan if you stop, and whether payments can restart.
Taking money out. The document does not describe partial withdrawals, so ask what is allowed and what it would cost for your policy.
If your circumstances change. Many expats stop paying when they change job, move country or come home. If that is a realistic prospect inside the term, this structure may not suit you. If you already hold a plan and are thinking of stopping, get the written surrender value first, because the cost depends on where you are in the term.
Security and compensation
Zurich International Life is covered by the Isle of Man Policyholders Compensation Scheme, which pays up to 90% of Zurich’s liability to policyholders if it becomes insolvent. The scheme does not protect the value of the funds your premiums are invested in, which can fall.
Tax for UK expats
The plan is issued in the Isle of Man, but that does not make it tax-free for you. Tax depends on where you are resident when you surrender, withdraw or die, and countries treat offshore plans differently. If you return to the UK, gains can be taxed as chargeable event gains, which can be significant. See our guides to offshore investment bonds and inheritance tax for UK expats.
How Vista compares with other plans
Most offshore regular savings plans share the same design: a long term, charges weighted to the early years and penalties for leaving early. The differences are in the size of the charges, the bonuses, the flexibility and the funds. Bonus terms for Vista differ between country versions, whereas theRL360 Regular Savings Plan offers starter and loyalty bonuses on longer terms. That does not make one better, because bonuses are paid for by charges and are lost if you leave early. See also our guides to the older RL360 Quantum, FPI Premier Advance and Investors Trust Evolution.
A simple test works for any plan. Ask for the total cost over the full term in money, and for the value if you stop at years 1, 5 and 10. If you cannot get all three, you do not yet have enough information to decide.
Questions to ask before you start
- What will I pay in total, in money, over the full term, including adviser fees?
- What do I get back if I stop after one, two, five and ten years?
- How long does the expense recoupment last for my term?
- Which funds will I use, and what do they charge each year?
- What currencies are available, and what are the exchange costs?
- What are the tax consequences where I live, and if I move or return to the UK?
- Would a simpler, lower-cost option meet the same goal?
Zurich Vista: frequently asked questions
1. Is Zurich Vista still available?
Availability depends on your country and Zurich’s current range.
2. How long must I pay into Vista?
The minimum term is five years, and the policy must end before the life insured’s 80th birthday. Longer terms are common.
3. What is the expense recoupment?
It is a 4% a year charge on regular premiums that helps Zurich recover its set-up costs, taken monthly for up to 25 years or the term, whichever is shorter.
4. Does Vista have a bonus?
It depends on the version. The 2019 UAE key features document describes a welcome bonus in the first 12 months and a loyalty bonus every five years, both conditional on payments. The 2022 Qatar document mentions neither.
5. What happens if I stop paying?
The policy can become paid up, with a monthly paid-up charge, or lapse. If you surrender it, a charge applies. Ask Zurich for a written figure.
6. Can I cancel after signing?
Yes, within 30 days of receiving the policy documents, with a refund less any fall in investment value.
7. Is my money protected if Zurich fails?
The Isle of Man scheme covers up to 90% of Zurich’s liability. It does not protect against falls in fund values.
8. Can I change funds?
Yes. Currency switches between funds cost 0.175%. Check whether other switching charges apply to your policy.
9. Should I move to a different plan?
Only if the numbers clearly support it. A new plan starts a new term and new front-loaded charges, and surrendering Vista has its own cost.
10. Can you review my Vista plan?
Yes. Send us your latest statement and policy documents and we will set out the costs and your options.
Get your Vista plan reviewed
If you hold Vista or are being offered it, we can show you the real cost, your exit position at each stage and the alternatives. Request a callback and we will arrange a time that suits your time zone.