Employee Benefits – Group life policies

Valuable protection for employees & their families.

Excellent benefit options at competitive wholesale rates

Having an excellent employee benefits offering can be a valuable tool when it comes to attracting and maintaining quality people.

Network Insurance Group will work with you to assess your company’s needs to find the best solution for your organisation and your employees.

A single policy for all

Group Life insurance is a single policy that allows many members of an organisation (usually an employment group) to purchase an insurance policy with competitive wholesale premium rates, offering minimal or no medical underwriting and simple administration provided by your broker.

The cover that you provide through Group Insurance varies, however it may provide Life Insurance, Total and Permanent Disability (TPD) or even Group Salary Continuance (Income Protection).

By providing a Group Life or Salary Continuance insurance policy to your employees, you are providing employees valuable protection for themselves and their families. You will also be providing an invaluable benefit to your business protecting against unforeseen extended sick leave expenses.

Unrivalled security at a low cost to the business

With the right benefits program in place, businesses can offer employees (including owners) unrivalled security at a low cost to the business. A successful employee benefits program should help to achieve the following:

  • Increase employee loyalty, engagement and morale
  • Differentiate your employment offering and attract and retain quality employees
  • Become and remain an employer of choice
  • It also negates any moral or financial dilemma you face as to whether to continue to pay a sick or injured employee.

Premiums are usually less than you would expect. As a general rule of thumb, the premium should cost you less than 1% of your total payroll. Furthermore, some policies allow groups as small as ten people to join.