What types of insurance can you offer?

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Research has identified that employees value Health insurance as one of the most important benefit they receive from their employer. Health Insurance helps to cover the cost of your employees’ medical and surgical expenses. It can give them: faster access to treatment by avoiding public hospital waiting lists, less financial stress by reducing their medical costs and time off work and more choice over when and where they receive treatment for qualifying medical conditions.

Life insurance is commonly arranged to provide a lump sum payment to an employee’s family in the event of their death. This type of insurance helps employees plan for their families’ financial future giving them the peace of mind that their families will be taken care of if they pass away.

Total and Permanent Disability insurance will pay your employees a lump-sum payment if they suffer an illness or injury that results in them being totally and permanently unable to work.

Trauma cover provides a lump sum payment if your employee suffers from one of the conditions listed in the policy. These could range from Cancer, Strokes, Heart Attacks, through to Dementia. The conditions are by nature serious and potentially life threatening and, as a result, can have a significant financial impact. Trauma insurance is designed to help alleviate this financial impact.

When your employees suffer a health setback that prevents them from working, home loans, household bills, rent and general living expenses still have to be met. Income Protection insurance can help ease these financial pressures by providing your employee with a monthly income while they are off work. Without the added financial stress your employee is likely to get back to full health and work quicker.

Investing in insurance can be a smart business decision that positively impacts business performance and employee wellbeing. Here’s an example of how the benefits of Employee Insurance can outweigh the cost. To keep it simple, we’ll just give you the data on employer- funded health insurance.

In a tight job market, finding and keeping the best people is a challenge. Offering Employee Insurance can give you the edge you need.

87% of professionals agree that an organisation’s workplace wellness policy is important when considering new opportunities.

It can be costly when staff or their family get sick. An absent employee typically costs a Kiwi business $600 to $1,000 a year.

Businesses offering employer-funded health insurance reported a 17% drop in absenteeism.

People with employer-funded health insurance seek out treatment earlier and take fewer sick days overall.

Health and wellbeing strategies can help reduce health risks (like stress) for your employees.

One contributing factor to stress within your organisation could be the impact of other sick employees. One third of employees say they suffer from stress more when their colleagues are absent due to a serious condition.

Employees with subsidised health insurance are more likely to visit a doctor for a regular check-up, a medical specialist or physiotherapist and have elective surgery. This can keep them healthy and performing at their best.

Engagement, Satisfaction and Retention.

When your team is engaged, they can deliver to their full potential. Employees with employer- funded health insurance report higher job satisfaction than those without cover.

92% of professionals say it is very or somewhat important for them to work for an employer that offers a workplace wellness programme.

The likelihood of an employee staying with an employer that has a workplace health and wellbeing programme increases from 15% to 24% compared to an employer without these benefits. That results in some big savings not just by boosting performance, but also by reducing the need to spend money replacing employees and training new ones.