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.

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.

Discover how our tailored Group Life & TPD solution can strengthen your business.

The above advice is general.  Before you decide to purchase life insurance or retain your existing cover, you should consider whether the advice is appropriate for your financial situation, needs or objectives and consider the applicable Product Disclosure Statement.