Group & Employee Benefits

Group schemes are an excellent way to attract and maintain the best possible staff your industry has to offer. At a relatively low cost to the company you can offer your employees personal insurance cover.

Group & Employee Benefits

People first businesses know the value of their employees. 

You might be surprised to learn that demonstrating how you value your employees with a group financial plan doesn’t actually cost that much. About 0.5 - 1% of your total payroll on average. Yes, even for the small to medium businesses. 

Not only will a group financial plan earn goodwill in showing your appreciation, it will also deliver the compelling benefits of employee retention and attraction, and generate a measurable return on investment.

We’re pretty passionate about group financial plans, because we see the value day-in and day-out. We hear from the employers and the employees, especially after seeing all those claims paid out, and they all say the same thing;

“How did we not know about this sooner?”

It’s like some kind of well-kept secret. Which sadly is the case for much of the important financial knowledge we ought to know. At Lifetime, we’re on a mission to change that. We proudly support over 10,000 New Zealand employees through our group plans. 

We have one ourselves naturally and have experienced all of of these benefits and more first-hand. It’s when those claims get paid, and our staff and their family are supported in their time of need, that the value really hits home. 

As a full-service financial advisory, our plans go much further than just insurance though. Our plans can include;

  • KiwiSaver Management – A bit of thought and planning now can make a significant difference in your retirement.

  • Financial Literacy – We educate and empower your employees with seminars and resources to make smarter financial decisions.

  • Full Financial Planning – Take control of your finances and achieve your financial goals.

  • Health & Life Insurance – Get cover for real risk factors, and protect yourself and your loved ones in times of need.

  • Key Person Protection – Financially protect your business from the losses incurred should you lose a key member of staff. 

  • Financial Advice – From investing, to buying a home; any significant financial decision requires good advice. 

As a business, we understand that no matter the intangible value, a practicable financial business case is still required to support an investment. Thankfully, we can demonstrate just this. The principles are quite simple;

  • Allowing employees to get quicker access to healthcare allows them to recover faster. 
  • Providing options for employees to extend their cover to include family members and other voluntary top-up benefits reduces their personal insurance costs through utilising the group rate.
  • Employees would often be unable to secure this level of cover, certainly at these rates, on their own. You create more value for them than it costs you – better than a pay rise we think! 
  • Automatic insurance acceptance, including some pre-existing conditions, is the real gem in these plans. The appreciation and loyalty from employees who are now covered is humbling. 
  • Groups can be as small as 10 employees, making group plans accessible for many New Zealand businesses.

It might be that you already have an insurance scheme in place but you are interested in a second opinion. We can take an impartial look at your current plan and determine whether or not you and your employees are sufficiently covered.

Putting together a group insurance scheme takes a specialist. At Lifetime, we are experienced in workplace insurance management and will be able to tailor the cover to suit the needs of you and your business. The best insurance plan is one that provides the finest possible cover while fitting comfortably within your company’s budget.

It doesn’t matter if you have 10 employees or 1,000 - we can help. Talk to us today about putting together a group scheme that will benefit your valued employees, now and for the future.