Compare NZ employee (group) insurance plans

Advantages for employees

• Pre-existing conditions covered instantly for 5+ staff (health insurance) or 15+ staff (life, trauma, and income protection insurance).
• Extend coverage to staff families for zero cost — family members can opt in and ALSO get pre-existing conditions covered, even if you only subsidise staff. This lets you offer great benefits to not only your staff, but their family too.

Advantages for businesses

• Your competitors benchmarked — without providing names, we can give you an idea of what staff insurance cover your competitors are currently offering, so that you can more effectively position your company to attract, retain and successfully pursue the best talent.
• Attract and keep top talent — independent research shows that a staff health insurance programme is the top benefit that people want today. These feature heavily in their decisions about which jobs to accept, and whether to seek out new employment.
• Higher value, lower cost than a pay raise — with high inflation, staff are now expecting higher salary increases. One effective way to meet this expectation is to offset salary with something of an equally high perceived value. Starting as low as 0.5% of wage costs, you can provide cover for your staff that provides a greater perceived value than increasing wages by the same amount.
• Ensure minimal downtime from illness — give your staff access to the best medical treatment in the market, at the best speed available. When you’re able to claim for private medical tests and treatments, you can get treated much more quickly.  

With Policywise, you can offload the entire process of setting up and managing employee insurance — from comparison to claims.

What you get:

• Compare group protection plans from NZ’s leading insurers
  We source and compare plans from AIA, nib, Partners Life, Southern Cross, and UniMed — so you get the best-fit cover for your team
• Clear advice on cost and value
  Understand exactly what you’re paying for, whether it’s worth it, and where you can save — with access to market-leading group insurance pricing
• Simple, 1-page recommendations
  No jargon — just a clear summary of your best options and our expert recommendation
• End-to-end setup + insurer management
  We handle everything from implementation to insurer negotiations
• Ongoing claims support
  We manage claims for you and your employees — for the life of your policy
• Done-for-you staff communication & admin
  We handle employee questions, onboarding, and provide presentations and summaries for business owners and stakeholders

Why choose Policywise as your group insurance broker

• Independent NZ broker —we’re not tied to any insurer — we recommend what’s best for your business
• Licensed and trusted — fully licenced by the Financial Markets Authority, 4.9★ ratings (340+ reviews), helping 40,000+ Kiwis over 7+ years
• Ongoing support, not just setup — we stay with you for the life of your policy
• Save time + reduce admin — no more chasing insurers or answering employee questions
• 100% free service — we’re paid by insurers, so you get full-service support at no cost 

Well, if a key staff member were unable to work for several months, how much would that cost your business?

New Zealand’s public health system has been under increasing pressure.

• Since 2019 there has been a nearly 7× increase in patients waiting 4+ months to see a specialist. Once someone is referred to a specialist by their GP, NZ Health tracks whether you end up waiting more than 4 months just to get an appointment. In 2019, the total number of patients who waited 4+ months was about 10,000 — bad enough. But by the end of 2023, it had snowballed to nearly 70,000:
  
• There’s been a 6× increase in the number of patients not treated within 4 months of diagnosis. Once you see a specialist, they figure out the problem, and commit you to treatment. In 2019, fewer than 5,000 people had to wait 4 months after that point before receiving treatment. By 2023, that figure had soared up to 30,000:
  
• The number of patients waiting for planned surgery has nearly doubled. Although some regions have improved slightly, the overall trend is very negative:
  

For businesses, this means employees can be out of action for months — impacting productivity and revenue.

With private health insurance, wait times can be reduced dramatically. Your staff can access specialists and treatments much sooner — helping them recover faster and get back to work in weeks, not months.

Yes, there is ACC — but that only covers up to 80% of their income, and only for accidents. Degenerative conditions, sicknesses, and mental health conditions are not covered.

If a key member of your staff became ill, and could not work while waiting for treatment, how would you manage this? And what would you offer them while they were off work?

If you offer employee health insurance cover, and your team has 5 or more staff, we can get all their pre-existing conditions covered immediately. This means that if you have a key staff member with a serious illness like cancer, and you take out a policy for your business, that staff member would be covered for their illness instantly — and be able to claim right away. 

Well, if one of your staff became unable to work, how long would it be before you would be forced to let them go — even knowing that it would likely throw them into poverty?

The average income protection claim lasts between 9 and 12 months.

Could you afford to pay a non-working staff member for that long, once their sick leave runs out?

Most families only have enough cash on hand to last three weeks without a paycheck.

This puts many companies in a moral and financial dilemma. When accidents, illnesses and other ailments put staff out of action, do you:

1. Let them go, losing a valuable staff member and cutting off their financial security when they are most vulnerable? Or…
2. Keep paying their wages, while they can’t work to make that money back for you?

Yes, ACC can cover up to 80% of their income. But it fails more often than not because:

• ACC straight up denies as many as 300,000 claims per year
• ACC does not cover mental-health related disabilities that stop many people from working
• ACC does not cover degenerative conditions or disorders, nor illness or diseases

Group income insurance offers an extremely cost-effective way of avoiding this dilemma and getting the best of both worlds. For an average of less than 1% of your insured payroll, you can ensure that any employee who can’t work still has an income stream — while their actual wages are freed up to cover the cost of replacement staff or lost productivity.

This also makes it a cheap and powerful tool to attract and retain great talent.

Well, if one of your staff died, what would you offer their family?

1 month’s wages?

3? Maybe 6? Or whatever the minimum is under their contract?

Not sure?

Most businesses don’t have a plan for this situation — and although it is a rare risk, unfortunately, it does happen. It’s good to be prepared. The benefit of having life insurance for your employees is that:

• They and their families know up front what they would get if this were to happen
• You as a business won’t be in the difficult situation of having to decide on a compensation plan while riding an emotional rollercoaster

Life insurance lets the insurer carry the risk, rather than you. They pay out a lump sum, agreed in advance, to take care of the staff member’s family — so you don’t have to figure out what is “fair” during such a terrible time.

Again, having a fair and equitable plan in place greatly enhances company culture, and your brand in the market. The simple fact is: people want to work for companies that take care of them and their families. 

Our licenced group insurance advisers have enormous amounts of experience in the insurance industry — so you can be sure our recommendations exactly match your business requirements. There are many “gotchas” with comparing policies. We’ll help you ensure that whatever your business needs is what you get.

For instance, some providers don’t cover certain things, or don’t cover them well. Similarly, while the pricing of all policies goes up every year, some go up faster than others. You don’t want to choose a provider that is going to end up costing you more long-term.

For insurance where pre-existing conditions are important, all the insurers we deal with will cover these for all your staff, but there are different minimum requirements — so again, it pays to have someone advise you on which policy will work for your situation.