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Group Life Insurance

Policywise tells you which group life insurance policy is best for your company, 100% free.

Group Life Insurance
By yourself

With Policywise

Complicated fine print

Simple one-page summary

Guesswork & assumptions

Independent research & expert experience

Confusion & doubts

Clarity & assurance

Time-consuming hard work

Fast & easy

Here's what our customers say about us

These reviews are embedded here from Reviews.io, an independent third party website, so you can know that what you see is exactly what our customers have written, unfiltered by us.

Excellent

star star star star star

4.94 average

304reviews

Saswata

verified

Verified Customer

You are the best! Short and sweet and exactly discussing the issues and concerns that matter!

0 months ago

Saswata

verified

Verified Customer

You are the best! Short and sweet and exactly discussing the issues and concerns that matter!

Janelle

verified

Verified Customer

George was so helpful and really made the process of changing health insurance providers so easy. He really knew what policy...

0 months ago

Janelle

verified

Verified Customer

George was so helpful and really made the process of changing health insurance providers so easy. He really knew what policy would work for best for me.

Nandana

verified

Verified Customer

much appriciated for clear instructions and the service provided by the agent. It helps me to make a quick decsion on selecting a...

1 month ago

Nandana

verified

Verified Customer

much appriciated for clear instructions and the service provided by the agent. It helps me to make a quick decsion on selecting a insurance provider...

Dave

verified

Verified Customer

George was very knowledgeable across multiple providers, we managed to narrow down the best one for our family and followed...

2 months ago

Dave

verified

Verified Customer

George was very knowledgeable across multiple providers, we managed to narrow down the best one for our family and followed through with the cover.

Wei Ji

verified

Verified Customer

Was a little hesitant with going through the initial phone call, but it went much better than expected as Jared was able to...

2 months ago

Wei Ji

verified

Verified Customer

Was a little hesitant with going through the initial phone call, but it went much better than expected as Jared was able to provide detailed explanations to all the options that were available, and was able to adapt the recommendation based on changes I decided after some more thought. The comparison PDFs with quoted prices, brochures and policy details was also super helpful in making an informed decision.

Clint

verified

Verified Customer

We found Andrez, really good, knew his stuff, very honest. Rgds Clint, Jill hartley

5 months ago

Clint

verified

Verified Customer

We found Andrez, really good, knew his stuff, very honest. Rgds Clint, Jill hartley

Kylah

verified

Verified Customer

George was so informative and helpful, he made me feel confident in what policy to select. Great service.

5 months ago

Kylah

verified

Verified Customer

George was so informative and helpful, he made me feel confident in what policy to select. Great service.

Leen

verified

Verified Customer

Andrez was really helpful and professional

5 months ago

Leen

verified

Verified Customer

Andrez was really helpful and professional

mary

verified

Verified Customer

Andrez was really knowledgeable regarding the products available and very helpful with every aspect of our health insurance...

5 months ago

mary

verified

Verified Customer

Andrez was really knowledgeable regarding the products available and very helpful with every aspect of our health insurance applications

Rachel

verified

Verified Customer

Thanks George for making this quick and easy. I really appreciate the great service and wouldn't hesitate to use Policywise again.

6 months ago

Rachel

verified

Verified Customer

Thanks George for making this quick and easy. I really appreciate the great service and wouldn't hesitate to use Policywise again.

What is group life insurance?

Group life insurance is life cover for the employees of a business, often offered as part of an employee benefits package. 

Group life insurance can be rewarding for both employer and employee. It helps businesses retain top performers and enhances a reputation for providing pastoral care.

Employees benefit from the security of having affordable life cover, which provides a lump sum if they pass away or become terminally ill.

Why offer employee life insurance? 

Offering life insurance to your employees means great positives for both your business and your staff. Here's why:

Advantages for businesses

  • Attract top talent: Group life insurance adds to your employee benefits package, attracting quality job applicants in a competitive market.
  • Employee retention: Providing life insurance fosters employee satisfaction, loyalty, and good morale, reducing staff turnover.
  • Cost savings: Group policies are typically more affordable than individual ones, spreading the risk across the group and lowering overall costs.
  • Enhanced reputation: Offering comprehensive employee benefits like group life insurance boosts your company's reputation as a responsible and caring employer.
  • Employer-determined cover amount: Employers can choose the cover amount based on factors like salary or job role in alignment with their compensation strategy.
  • Customisable cover: Employers can tailor the level of life cover for different employee groups and package it with other covers such as total and permanent disability (TPD), income protection, and trauma cover.

Advantages for employees

  • Financial protection for families: Employees’ families receive a lump sum payout upon the death or terminal illness diagnosis of their loved one. This payment can help cover funeral expenses, mortgage or rent payments, education, daily living expenses, and utilities.
  • Life insurance cover that’s discounted or fully subsidised: Offers a cost-effective form of financial security.
  • Voluntary additional cover: Many policies allow employees to customise their protection by purchasing extra cover at competitive rates.

Features and benefits of group life policies for employees

Group life insurance provides valuable features and benefits. Here’s what could be on offer for your team:

  • Life cover benefit: Pays out a lump sum upon an employee’s death, helping their beneficiaries meet financial obligations despite losing an income earner.
  • Advance payment for terminal illness: Some plans pay the life cover in advance if an employee is diagnosed with a terminal illness and given less than 12 months to live, providing financial support when most needed.
  • Funeral advancement: Some insurers will immediately advance a portion of the life cover upon the employee’s death, so family members can use it for funeral and other immediate expenses.
  • Continuation of life cover: Some plans allow employees to continue their life cover even after leaving the company, ensuring ongoing protection without interruption.
  • Automatic acceptance: Employees are usually enrolled with no stand down or medical exams, making cover accessible to everyone, regardless of health status.
  • Add-ons: Some plans also allow employees the option to include add-ons like extending cover to their family members.

How to get a free group life cover quote

To receive a customised group life cover package and quote for your business, simply provide the following details of your employees:

  • Name (optional)
  • Date of birth
  • Gender
  • Salary
  • Occupation

With just this basic information, Policywise can supply a free, no-obligation quote tailored to your needs. It’s a quick and easy way to explore the best insurance options for your business and employees.

Why choose Policywise as your group life insurance broker?

The right broker can help you find the best value life cover for your business and employees. Policywise stands out as a trusted partner for businesses across New Zealand, offering expertise, personalised service, and a commitment to finding the best employee insurance solutions.

  • Access to multiple insurers: Rather than limiting yourself to quotes from a single insurer, Policywise gives you access to a range of options from multiple insurers.
  • You can compare different plans, benefits, and costs all in one place, ensuring the best possible cover at the most competitive price.
  • Time-saving and hassle-free: Navigating the insurance market can be overwhelming. By working with Policywise, you’ll save time and avoid the hassle because we do the legwork for you, presenting a curated selection of options that meet your needs.
  • Licensed and trusted: Policywise is fully licensed by the Financial Markets Authority (FMA), giving you peace of mind that you’re working with a reputable and trustworthy broker. Our transparent approach and commitment to ethical practices mean you can rely on us to act in your best interests.

Why choose Policywise as your group life cover broker

POLICYWISE™ Other comparison sites Traditional brokers Banks Insurers
(going direct)
Completely free service
Yes
Yes
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Quotes from 8 of NZ’s leading insurers
Yes
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Tailored recommendations fitted to your needs
Yes
No
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Detailed quote comparisons
Yes
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Comparisons based on third-party research
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Fast & efficient process
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Independent claims support & advocacy
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Laser-focused on health, life, disability, & group insurance
Yes
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Experts at negotiating pre-existing conditions
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Help you review your existing cover
Yes
No
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Avoid policies that make claiming hard
Yes
Yes
Yes
No
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Ongoing support
Yes
Yes
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Nicest team in New Zealand
Yes
No
No
No
No

How Policywise works in 3 easy steps

1

Tell us about your company

Click the button below to get started by entering some basic details. (Takes less than 30 seconds.)

2

Get your FREE, no-obligation quote comparison

We’ll provide a straightforward run-down of your best options. Our report will show you the best group life insurance policies that match your needs, with research and ratings for each insurance provider. You’ll see a summary of quotes for the lowest market prices available for these policies. And we provide all this completely free to you, with no hidden costs – you'll pay the same premium as you would had you approached each insurer yourself and negotiated the best cover.

3

We take care of everything for you

If you like our recommendations, our experienced group insurance heroes will set up everything. Eliminate the pain of organising your group life insurance – we handle all the time-consuming back-and-forth with the insurer on your behalf. This is FREE for you because the insurer you choose pays our fees.

Disclaimer: All information on this page or website is general information only, not intended as advice, and does not take into consideration your personal circumstances. We recommend consulting a Policywise adviser before making any insurance decision.

Please note: Policywise advisers are licensed by the Financial Markets Authority to provide financial advice in relation to health insurance, life insurance, and disability insurance. You can learn more about this on our Public Disclosure page. All insurance covers are subject to the insurer’s approval of your application.

Insurance policies and their built-in and optional benefits may be subject to stand-down periods, exclusions, terms and conditions, and premium loadings not listed on this website. Optional benefits also have additional premiums. Please refer to the insurance product’s policy document for full details. Insurers may alter these details at any time.

Therefore, nothing in our product pages is intended to be definitive or binding. Where there are discrepancies between any policy wording on this website and the policy wording provided by the insurance company at the time your cover is approved, then the insurance company’s wording will be deemed the correct version.

References

AIA. (2024). Corporate group insurance. Retrieved 29/08/2024 https://www.aia.co.nz/en/corporate-solutions/group-insurance.html

Asteron Life. (2023). Asteron Life employee insurance. Retrieved 29/08/2024 https://www.asteronlife.co.nz/documents/employee-insurance-brochure.pdf

 Fidelity Life. (2024). Group life insurance. Retrieved 29/08/2024 https://www.fidelitylife.co.nz/business/group-life-insurance/

GroupHealth Benefit Solution. (2024). Group life insurance can protect your employees and their families. Retrieved 29/08/2024 https://www.grouphealth.ca/portfolio-items/group-life-insurance-can-protect-your-employees-and-their-families

Policywise. (2024). Group insurance. Retrieved 09/09/2024 https://www.policywise.co.nz/group-insurance