Zurich vs Acenda Life Insurance: The "Global Wellness Giant" vs the "Claims Veteran" – Which One Wins

1. The Big Picture: Market Share & Who Owns Who

Before we dive into products and premiums, let‘s understand the scale of each player.

Zurich Australia: The Swiss‑Based Global Powerhouse

Zurich Australia is the third‑largest life insurer in the country by retail market share, holding 15.2% of the market behind TAL (33.4%) and AIA (18.3%). In terms of in‑force premium, Zurich holds 14.9% of the market ($2.41 billion), ranking third behind TAL (31.3%) and AIA (21.3%).

But Zurich isn‘t standing still. In early 2026, Zurich announced its intention to acquire ClearView Life for $415 million. Once the acquisition is complete, Zurich‘s market share will increase to approximately 17.4%, placing it just behind AIA at 18.2% and closing the gap on the market leaders.

Zurich brings the backing of the global Zurich Insurance Group, which services more than 82 million customers worldwide and operates in over 200 countries and territories. In Australia, Zurich has been operating since 1920, with life insurance representing 19.7% of its revenue.

Acenda: The New Giant with Deep Heritage

Acenda is the new name formed from the merger of MLC Life Insurance and Resolution Life Australasia, completed in late 2025 under the ownership of Japan‘s Nippon Life Insurance Group. The merger positions Acenda as one of Australia‘s largest life insurers, with over 2 million customers and more than 1,400 employees.

In retail market share terms, Acenda ranks 4th with 10.2%. However, according to an IBISWorld report, Acenda is now the second‑largest life insurance provider with a 9% market share on revenue of $2.2 billion. The discrepancy likely reflects different measurement methodologies (retail vs total in‑force).

The business brings together the combined legacy of MLC Life (over 135 years of Australian history), Resolution Life Australasia, and Asteron Life New Zealand. Nippon Life, the parent company, is one of the world‘s leading life insurers with over 170,000 employees, 15 million customers, and AU$990 billion in total assets.

Bottom line: Zurich is larger in retail market share (15.2% vs Acenda‘s 10.2%). However, Acenda‘s merger with Resolution Life makes it a formidable challenger – and by some measures, the second‑largest provider overall.

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2. Claims Performance: Where the Rubber Meets the Road

This is the most important section of any insurance review. It doesn‘t matter how cheap your premiums are if your insurer doesn‘t pay when you need them most.

The Industry Average (2024 Data)

According to APRA/ASIC Life Insurance Claims and Disputes Statistics for 2024:

Cover Type	Average Acceptance Rate	Average Decision Time
Life (Death)	96.9%	~1.2 months
Total & Permanent Disability (TPD)	83.8%	~5.1 months
Trauma (Critical Illness)	85.4%	~2.3 months
Income Protection	95.0%	~1.8 months

Zurich Australia‘s Claims Performance

Zurich paid over $881 million in life insurance claims to 7,658 customers in 2024. The company‘s overall claims approval rate for life insurance was 92% in 2020, though more recent data shows variation by product type.

Zurich‘s claim acceptance rates by product type (APRA 2025 data):

• Advised Trauma insurance: 83.3% acceptance rate

• Death cover: Zurich performs strongly alongside AIA with consistently high payout rates across multiple product lines

According to MoneySmart claims comparison data (2023), Zurich/OnePath had a 94.1% claims acceptance rate, ranking 5th among major life insurers.

However, Zurich has faced scrutiny over death claim disputes. In the 12 months to 30 June, Zurich (including its OnePath brand) topped the list for disputes over death claim decisions with 79 disputes – more than double the next closest insurer. Of the 148 resolved disputes, 84 ended with the insurer‘s original decision being reversed.

Zurich has also faced regulatory actions:

• ASIC issued two infringement notices totalling $37,560 to Zurich Australia after it self‑reported incorrectly declining two trauma insurance claims

• ASIC also penalised Zurich for allegedly making false or misleading statements to policyholders

• AFCA ruled against Zurich in multiple cases, including a failure to consider important evidence and a wrongful threat to cut payments

Acenda‘s Claims Performance

Acenda‘s claims performance is strong and improving. In 2024, Acenda approved over 94% of individual claims received and paid $802 million in benefits to over 5,400 customers. Overall, Acenda paid more than $1.1 billion in claims to 8,849 customers across 1,099 Life Cover claims, 1,072 TPD claims, 596 Critical Illness claims, and 5,753 Income Protection claims.

Acenda‘s claims acceptance rates by product type (MoneySmart data, 2023):

• Life Insurance claims: 97.5%

• Income Protection claims: 96.7%

• Critical Illness claims: 89.3%

• Disability Insurance claims: 86.2%

Leading causes of claims at Acenda:

• Cancer: 25% of all accepted claims (42% of Life Cover claims)

• Mental illness: 18%

• Musculoskeletal: 13%

• Cardiovascular: 11%

• Accidents: 10%

Award‑winning claims team: Acenda‘s claims process, known as TPD Express, received the Claims Team Award for the third consecutive year, noted for its ability to expedite eligible claims and decrease the overall claim settlement timeframe by 84%.

How They Compare on Claims

Metric	Zurich Australia	Acenda
Total claims paid (2024)	$881 million	$1.1 billion
Customers supported	7,658	8,849
Life claims acceptance	Not publicly standardised (94.1% in 2023 data)	97.5% (2023 data)
Income protection acceptance	Not publicly standardised	96.7%
Trauma acceptance	83.3% (advised)	89.3%
Death claim disputes (12 months)	79 (highest)	Lower volume
Claims team recognition	Not publicly standardised	Claims Team Award – 3 consecutive years
Claim settlement time improvement	Not publicly standardised	84% reduction
Leading claim cause	Not publicly standardised	Cancer (25%)

The verdict on claims: Both insurers perform strongly. Acenda has a clear edge on specific product acceptance rates (97.5% for life cover) and its award‑winning claims team. Zurich‘s claims acceptance is solid, but the company‘s high number of death claim disputes – and the fact that over half of resolved disputes saw the original decision reversed – is a genuine concern.

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3. Product Offerings: What Can You Actually Buy?

Zurich Australia‘s Product Suite

Zurich offers life insurance through two main channels:

For advised clients (through financial advisers):

• Zurich Protection Plus: A flexible package that can be tailored to your needs and budget

• Life Cover: Lump sum payment upon death or terminal illness diagnosis. Includes a $15,000 cash advance payment while your claim is assessed to cover funeral expenses

• Total & Permanent Disablement (TPD): Lump sum payment if permanently unable to work

• Trauma Cover (three tiers): In 2026, Zurich offers one of the most tiered and customisable critical illness products: Standard (covers 39 conditions with a focus on the “Big Three” – Cancer, Heart Attack, Stroke), Enhanced & Enhanced Plus (covers up to 52 full‑payment conditions and over 30 “additional” conditions)

• Income Protection: Monthly payments if unable to work due to sickness or injury

• Business Expenses Insurance: Cover for essential business costs if you can‘t work

For direct clients (online purchase):

• Ezicover Life Insurance: DIY life insurance with a lump sum payment if you die or become terminally ill

• Ezicover Income Protection: Monthly payment for up to 5 years if unable to work

• First month‘s premium waived if your application is accepted – in the first year you only pay for 11 months

Standout Zurich features:

• Zurich Active Claim Protector: 25% of the total cover is ‘protected‘ for future health events, ensuring it‘s available if a health event gets worse or if a new health event occurs over the life of the policy

• Cover suspension feature: Put your cover on hold for up to 12 months after holding the policy for at least 12 months

• Loving Life rewards program: Access to over 7,900 lifestyle and entertainment offers via smartphone

• Zurich LiveWell wellness ecosystem: Four‑pillared view of health: physical, mental, social and financial wellbeing

• Zurich Evolve: A wellness offering with free health services, cancer support program, exercise support, fatigue management, pain education, and rehabilitation services

Acenda‘s Product Suite

Acenda‘s products are available through financial advisers only. The suite includes:

• Life Cover: Lump sum payment upon death or terminal illness diagnosis. Includes an advance of $20,000 for urgent funeral costs and reimbursement for financial planning advice

• Income Protection: Monthly payments if unable to work due to sickness or injury

• Total & Permanent Disability (TPD): Includes an innovative TPD Severity option that uses established medical benchmarks to assess claims, providing “more clarity and consistency” for customers

• Critical Illness (Trauma): Lump sum upon diagnosis of specified medical conditions

• Child Critical Illness: Lump sum payment if an insured child suffers a covered condition

• Business Expenses: Covers fixed business expenses should the client be unable to work

• Lifestream Guaranteed Income: Acenda has entered the retirement market with a guaranteed retirement income product providing lifetime income, designed for older Australians

Standout Acenda features:

• TPD Severity option: Allows advisers to “mix and match levels of TPD Severity with the customer‘s preferred level of other TPD cover”, offering greater flexibility and affordability

• TPD Express: Can fast‑track eligible claims for customers, reducing settlement times – and has won awards for three consecutive years

• Economiser option: Allows customers to freeze premiums while accepting a gradual reduction in benefit amount over time – a helpful affordability feature during financial difficulty

• Vivo Wellbeing: A comprehensive health, wellness and recovery program available at no additional cost. Includes Vivo Virtual Care (mental health navigator, cancer coach, pain coaching), nutrition and fitness consults, and recovery support

• Vivo Incentive: A lifetime discount of 7.5% on insurance premiums for customers with a healthy BMI (18.5 – 28.5)

• 135+ years of Australian heritage: Through MLC Life, Acenda brings over a century of experience protecting Australian families

Key difference: Zurich offers a wider range of products, including direct online purchase options (Ezicover) and a three‑tiered critical illness product. Acenda offers more flexible TPD options (TPD Severity), the unique Economiser option for affordability, and has expanded into the retirement income market with Lifestream Guaranteed Income – a product Zurich does not offer.

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4. Unique Features: What Makes Each Stand Out?

Zurich Australia‘s Secret Weapons

1. Zurich LiveWell & Evolve: A comprehensive wellness ecosystem taking a four‑pillared view of health: physical, mental, social and financial wellbeing. The app‑based experience empowers users to build healthy habits and unlock rewards. Zurich Evolve provides complementary access to preventive checks, cancer support programs, exercise support, fatigue management, pain education, and rehabilitation services.

2. Loving Life rewards program: Access to over 7,900 lifestyle and entertainment offers via smartphone – from food shopping and petrol to fine dining and movie tickets.

3. Zurich Active Claim Protector: 25% of the total cover is ‘protected‘ for future health events, ensuring it‘s available if a health event gets worse or if a new health event occurs over the life of the policy.

4. Three‑tiered Critical Illness Cover: One of the most tiered and customisable critical illness products in the market – Standard (39 conditions, focusing on Cancer, Heart Attack, Stroke), Enhanced and Enhanced Plus (up to 52 full‑payment conditions and over 30 “additional” conditions).

5. Cover suspension feature: Put your cover on hold for up to 12 months – a genuine flexibility tool during financial difficulty.

6. $15,000 cash advance payment: Paid in advance while your claim is assessed to cover funeral expenses.

7. Global backing: Zurich Insurance Group services more than 82 million customers worldwide, providing significant financial stability.

Acenda‘s Secret Weapons

1. Claims Team Award – three consecutive years: Acenda‘s claims team has been recognised for its ability to expedite eligible claims and decrease the overall claim settlement timeframe by 84%. This means you get paid faster when you need it most.

2. TPD Severity option: Acenda‘s TPD Severity uses established medical benchmarks to assess claims, providing “more clarity and consistency” for customers. This innovative approach can make the claims process more predictable and less stressful.

3. TPD Express: Can fast‑track eligible claims for customers, reducing settlement times.

4. Economiser option: Allows customers to freeze premiums while accepting a gradual reduction in benefit amount over time – a helpful affordability feature during financial difficulty.

5. Lifestream Guaranteed Income: Acenda has expanded into the retirement market with a guaranteed retirement income product providing lifetime income, positioning itself as a provider of retirement solutions alongside traditional life insurance.

6. 135+ years of Australian heritage: Through MLC Life, Acenda brings over a century of experience protecting Australian families.

7. Vivo Wellbeing: A comprehensive health, wellness and recovery program available at no additional cost. Includes Vivo Virtual Care (mental health navigator, cancer coach, pain coaching), nutrition and fitness consults, and recovery support – all available even without making a claim.

8. Vivo Incentive: A lifetime discount of 7.5% on insurance premiums for customers with a healthy BMI (18.5 – 28.5).

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5. Premiums & Pricing: What Will It Cost You?

Neither insurer publishes fixed premium tables – your cost depends on age, health, smoking status, occupation, cover amount, policy type and your location. However, independent analysis provides clear guidance:

Zurich Australia Pricing

Zurich has been recognised as the “Best for Ongoing Discounts” among Australian life insurers for 2026, offering up to 27.5% ongoing premium discounts depending on entry age.

Zurich‘s discount structure includes:

• Smart Value: Up to 27.5% ongoing premium discounts (depending on entry age)

• 5.7% discount for paying premiums annually

• 5% discount if you also have an Ezicover Life Insurance policy

• First month‘s premium waived – in the first year you only pay for 11 months

• Medibank health members save 10% on premiums

• Lower upfront pricing option: Option 1 has lower initial year 1 premiums; Option 2 (flatter pricing) remains cumulatively cheaper after approximately 5 years

However, note that Zurich will be increasing premiums for TPD and legacy Income Protection policies effective from 28 March 2026 to ensure the long‑term sustainability of its products.

Acenda Pricing

Acenda has been recognised as the “Best for Lowest Premiums” in the 2026 Life Insurance Direct rankings, with the lowest monthly premium example at age 45 ($24.59 for $500,000 of life cover).

Acenda‘s discount and affordability features include:

• Vivo Incentive: A lifetime discount of 7.5% on insurance premiums for customers with a healthy BMI (18.5 – 28.5)

• Economiser option: Freeze premiums while accepting a gradual benefit reduction – a genuine affordability tool during financial difficulty

• Multi‑policy discounts: Available through financial advisers

• Partner discounts: Available for members of partner organisations

Which is cheaper? Independent rankings suggest Acenda has the lowest base premiums among major life insurers. However, Zurich‘s maximum potential discount (27.5%) is significantly higher than Acenda‘s 7.5% Vivo Incentive. If you qualify for Zurich‘s top discounts, your effective premium could be lower than Acenda‘s.

Key difference: Zurich offers both stepped and level premium options. Acenda‘s premium structure is not publicly detailed in the same way.

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6. Distribution Channels: How to Buy

Aspect	Zurich Australia	Acenda
Primary distribution	Financial advisers + direct (Ezicover)	Financial advisers only
Direct online purchase	✅ Yes (Ezicover Life & Income Protection)	❌ No
Available through super	✅ Yes	✅ Yes (Acenda Insurance Super)
Underwriting innovation	AI‑powered mental health underwriting	TPD Express (fast‑tracked eligible claims)
Application time	Online quotes available	Varies (adviser‑led)
Retirement solutions	❌ No	✅ Yes (Lifestream Guaranteed Income)

Key difference: If you want to buy life insurance directly online without a financial adviser, Zurich is your only option between these two. Acenda requires you to go through a financial adviser for all products.

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7. Complaints & Disputes: The Numbers You Need to See

This is where the picture becomes more nuanced – and where Zurich faces legitimate challenges.

Zurich Complaints Data

Zurich had 189 complaints lodged with AFCA in 2024‑25, ranking third behind TAL (642) and AIA (298). However, the most concerning data is Zurich‘s position on death claim disputes:

• Zurich topped the list for disputes over death claim decisions with 79 disputes – more than double the next closest insurer (TAL with 27)

• Of the 148 resolved disputes, 84 ended with the insurer‘s original decision being reversed

Zurich has also faced regulatory actions:

• ASIC issued two infringement notices totalling $37,560 to Zurich Australia after it self‑reported incorrectly declining two trauma insurance claims

• ASIC also penalised Zurich for allegedly making false or misleading statements to policyholders, noting that “insurance claims handling was a 2024 enforcement priority”

• AFCA ruled against Zurich in multiple cases, including a failure to consider important evidence and a wrongful threat to cut payments

Acenda Complaints Data

Specific Acenda complaint numbers are not as readily available in public AFCA data. However:

• The company‘s strong claims acceptance record (94%+ overall, 97.5% for life cover) and award‑winning claims team suggest that disputes are relatively rare

• Acenda reported zero death claim disputes in 2022, with death claims acceptance rates among the best in the industry

• Acenda has a clear complaints process on its website and directs unresolved complaints to AFCA

• However, there have been internal employment disputes following the merger, with former Acenda employees criticising the insurer for slashing jobs without proper consultation

The verdict on complaints: Zurich has significantly more publicly available complaints data, and its high number of death claim disputes (79) – and the fact that over half of resolved disputes saw the original decision reversed – is a genuine concern. Acenda‘s zero death claim disputes in 2022 and award‑winning claims team suggest a more customer‑friendly claims experience.

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8. Who Should Choose Zurich Australia?

Zurich might be right for you if:

• ✅ You want to buy life insurance directly online without a financial adviser (via Ezicover)

• ✅ You want access to a comprehensive wellness ecosystem (LiveWell + Evolve + Loving Life) with premium discounts and lifestyle rewards

• ✅ You want the highest potential ongoing premium discounts in the market – up to 27.5%

• ✅ You want a tiered critical illness product with up to 52 covered conditions

• ✅ You value flexible policy features like cover suspension and the Zurich Active Claim Protector (25% protected for future health events)

• ✅ You appreciate global backing (82+ million customers worldwide)

• ✅ You want both stepped and level premium options

• ✅ You‘re attracted by first month free and multi‑policy discounts

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9. Who Should Choose Acenda?

Acenda might be right for you if:

• ✅ You work with a financial adviser (or are willing to)

• ✅ You value fast, efficient claims processing – Acenda‘s claims team has won awards for three consecutive years and achieved an 84% reduction in claim settlement times

• ✅ You want the highest possible life claims acceptance (97.5%) – among the best in the industry

• ✅ You want flexible TPD options – the TPD Severity option uses medical benchmarks for more consistent claim assessment

• ✅ You‘re concerned about premium affordability during financial difficulty – the Economiser option allows you to freeze premiums while accepting a gradual benefit reduction

• ✅ You‘re looking for retirement income solutions alongside life insurance – Acenda‘s Lifestream Guaranteed Income product is a unique offering not available from Zurich

• ✅ You appreciate over 135 years of Australian heritage through MLC Life

• ✅ You want the lowest base premiums – Acenda has been recognised as the “Best for Lowest Premiums” in 2026 rankings

• ✅ You value the 7.5% lifetime BMI discount (Vivo Incentive)

• ✅ You‘re attracted by zero death claim disputes record (2022)

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10. Final Verdict: Which One Wins?

Here‘s the honest truth: Both Zurich and Acenda are excellent life insurers. You wouldn‘t make a bad choice with either. But they serve very different types of customers with different priorities.

🏆 Choose Zurich Australia if:

You want flexibility, choice and direct access – including the ability to buy online without a financial adviser. Zurich‘s LiveWell wellness ecosystem, Loving Life rewards program, and up to 27.5% ongoing discounts offer genuine value beyond basic insurance. However, be aware of Zurich‘s higher dispute numbers and regulatory scrutiny.

🏆 Choose Acenda if:

You work with a financial adviser and want fast, efficient claims processing – Acenda‘s claims team has won awards for three consecutive years and achieved an 84% reduction in claim settlement times. If you value flexible TPD options (TPD Severity), an affordability tool (Economiser option), or are interested in retirement income solutions alongside life insurance, Acenda offers genuine differentiation. Its zero death claim disputes in 2022 is a powerful testament to its claims handling quality.

The Bottom Line

Criterion	Zurich Australia	Acenda
Retail market share	15.2% (3rd)	10.2% (4th) / 9% (2nd by some measures)
Life claims acceptance	94.1% (2023 data)	97.5% (2023 data)
Trauma acceptance	83.3% (advised)	89.3%
Direct online purchase	✅ Yes (Ezicover)	❌ No
Maximum ongoing discount	Up to 27.5%	7.5% (Vivo Incentive)
First month free	✅ Yes	❌ No
Wellness program	✅ LiveWell + Evolve + Loving Life	✅ Vivo
TPD flexibility	Standard	✅ TPD Severity + TPD Express
Affordability tool	Cover suspension (up to 12 months)	✅ Economiser option
Retirement income solutions	❌ No	✅ Lifestream Guaranteed Income
Death claim disputes (12 months)	79 (highest)	Zero (2022)
Claims team recognition	Not publicly standardised	✅ 3 consecutive years award
Claim settlement time improvement	Not publicly standardised	✅ 84% reduction
Australian heritage	100+ years	135+ years (via MLC Life)
Lowest premiums (2026 ranking)	❌ No	✅ “Best for Lowest Premiums”
Premium options	Stepped AND level	Not publicly detailed
Global backing	✅ 82+ million customers	Nippon Life (AU$990bn assets)
Cooling‑off period	21 days	Not publicly detailed

My Personal Recommendation

If you want to buy life insurance directly online and value a comprehensive wellness ecosystem with premium discounts – Zurich Australia is the clear winner. Its LiveWell program, up to 27.5% discounts, and three‑tiered critical illness cover offer genuine value beyond basic insurance. Just be aware of its higher dispute numbers.

If you work with a financial adviser and value fast, efficient claims processing with a proven track record – Acenda is the winner. Its award‑winning claims team, 84% reduction in claim settlement times, and zero death claim disputes in 2022 are genuinely impressive. The TPD Severity option and Economiser option offer flexibility and affordability tools that Zurich doesn‘t match.

However, both insurers are solid choices. If claims certainty and fast payouts are your top priorities, Acenda has a clear edge. If you want flexibility (online purchase, multiple discount options, tiered cover), Zurich is your best bet.

Either way, you‘re choosing between two of Australia‘s most reliable life insurers. And that‘s a good problem to have.

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11. Frequently Asked Questions

Can I buy Zurich life insurance directly online?

Yes. Zurich offers Ezicover Life Insurance and Ezicover Income Protection as direct‑to‑consumer online products.

Can I buy Acenda life insurance directly online?

No. Acenda life insurance products are only available through licensed financial advisers.

Which has better claims acceptance – Zurich or Acenda?

Acenda has a clear edge on life claims acceptance (97.5% vs Zurich‘s 94.1%). Acenda also reported zero death claim disputes in 2022.

Which has better wellness programs?

Zurich has a more comprehensive wellness ecosystem (LiveWell + Evolve + Loving Life) with premium discounts, activity tracking, health assessments, and lifestyle rewards. Acenda‘s Vivo program focuses more on recovery support and virtual care.

Which has better discounts?

Zurich offers significantly higher maximum potential discounts (up to 27.5%) compared to Acenda‘s 7.5% Vivo Incentive. However, Acenda‘s base premiums are recognised as the lowest in the market.

Does Acenda have a BMI discount?

Yes. Acenda‘s Vivo Incentive offers a lifetime discount of 7.5% on insurance premiums for customers with a healthy BMI (18.5 – 28.5).

Does Acenda offer retirement income products?

Yes. Acenda has expanded into the retirement market with Lifestream Guaranteed Income, a guaranteed retirement income product providing lifetime income for older Australians. Zurich does not offer a comparable product.

Which insurer has fewer complaints?

Zurich has significantly more publicly available complaints data, with 189 AFCA complaints and 79 death claim disputes – the highest in the industry. Acenda reported zero death claim disputes in 2022 and its award‑winning claims team suggests strong customer satisfaction at claim time.

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Disclaimer: This article provides general information only and does not constitute financial advice. Insurance products, premiums, features and dispute data change over time. Always read the Product Disclosure Statement (PDS) and consider consulting a licensed financial adviser before purchasing any life insurance policy.

Ready to decide? Get a quote from Zurich (directly via Ezicover or through an adviser) and speak with your financial adviser about Acenda‘s product range. Compare the features, discounts and claims performance. The peace of mind is worth the effort.