Unlock Cost-Effective Protection for Your Firm & Clients
For professional services firms with over 50 team members, offering employee benefits insurance doesn’t have to be expensive or complicated – it might even be a fraction of the cost you expect.
Did you know?
For the same cost of insuring your partners, you could cover your entire team – thanks to wholesale rates and economies of scale. Plus, with one policy, one renewal, and a three-year rate guarantee, it’s never been easier to provide meaningful financial security to your staff.
What is Group Income Protection & Life/TPD Insurance?
- Group Income Protection pays employees a portion of their salary if sickness or injury prevents them from working, ensuring financial stability so they can focus on their recovery.
- Life & TPD Insurance provides a lump sum if an employee passes away or becomes permanently disabled, supporting their family and ensuring your business can manage succession planning and buy/sell agreements smoothly.
Picture this, implementing an insurance employee benefits solution that’s not only a strategic investment but enhances employee satisfaction and loyalty while also helping to mitigate the substantial costs associated with high staff turnover. In Australia, replacing an employee can cost between 30% to 150% of their annual remuneration package, depending on the role. It’s not just the hiring cost you’ll incur, but also lost productivity, diminished team morale, and the loss of key knowledge.
Why It Makes Sense for Professional Services Firms
- Automatic acceptance – includes pre-existing medical conditions and high-risk hobbies – like trail bike riding.
- One policy, one renewal – hassle-free cover with no individual applications.
- Boost retention & engagement – financial security can make employees feel 25% more valued.
- Address financial stress – 75% of Australians struggle financially, and nearly half lack three months’ savings.
- Ideal for succession planning & buy/sell agreements – ensures financial stability for business transitions.
Why Steadfast Life?
Steadfast Life is your trusted partner for employee benefits, providing:
- Deep expertise – with over 50 specialists and more than 500 years of combined experience, Steadfast Life has helped facilitate over $100 million in claims payments.
- Seamless administration – one policy, one renewal, and minimal admin means you spend less time managing insurance.
- Tailored solutions – custom programs that meet your firm’s needs.
- Market leverage – backed by the Steadfast Group, Steadfast Life offers competitive pricing and strong support when it’s time to claim.
- End-to-end support – from broking and claims management to financial wellness solutions, Steadfast Life has you covered.
A smart move for your firm or clients. Whether you’re looking to enhance your own benefits or introduce a smarter solution to your client, Steadfast Life is here to help.
This information has been prepared by Steadfast Life Pty Ltd ABN 81 111 380 388 AFSL 421904. The information provided is of a general nature only and has been provided without taking into account your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information, having regard to your own individual objectives, financial situation and needs. The information in this document reflects our understanding of existing legislation, proposed legislation, rulings etc as of today. In some cases, the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither, Steadfast Life Pty Ltd nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this document.
Sources:
The True Cost of Employee Turnover Flare National Employee Benefits Index Report 2023