Why do I need life and health cover for business?

The best way to assure peace of mind is to protect your most important assets: your people and the valuable revenue they generate.

• What is the financial impact on your business if you lose a key person? How soon before your business started accruing additional costs?
• Have you loaned funds to the business through your current account? Have you used your private residence as security? Loans and guarantees remain in force and transfer to your estate in the event of death or permanent impairment. Could your family manage?
• How would your family assess the value of your shareholding if you died or were so disabled that you could never work again?
• Would you like to provide staff with a base level of life, disability or medical insurance so their families are financially provided for in case of a serious medical event?

Life Insurance provides for business continuity. It is a way to ensure your business has the funds when a key person can no longer contribute, and your liabilities are covered.

Our experts will work with you to create a tailored, cost-effective insurance package to meet your needs. And, with our market scale and relationships, we'll negotiate excellent terms for you. We’re 100% committed to protecting your business.

Life and health insurance solutions

Income protection insurance

Provides a monthly replacement income if you are unable to work due to illness or injury. ACC only covers accidents.

Key person insurance

Provides a monthly benefit and/or lump sum to offset additional costs of losing a key person through serious illness, injury or death. It covers staff replacement costs, training costs, contract penalties and loss of profits, etc.

Debt protection / Personal guarantee / Release insurance

Provides a lump sum to repay debt to shareholders or release personal guarantees, following serious illness, injury or death. These funds take pressure off the business and allow it to move forward.

Shareholder protection insurance

Provides a lump sum for remaining shareholders to purchase the shares of a shareholder who makes an unplanned exit from the business due to serious illness, injury or death. These funds provide the departed shareholder’s family or estate with capital and provide the remaining shareholders with control of the business.

Employee benefits

Provides insurance cover at discounted group rates for staff (e.g. Life, Income Protection, Trauma or Medical). These benefits help reduce employee absenteeism, increase staff loyalty and create longevity of employment.

Help with life and health insurance  

We believe in providing you with the guidance to make sure that your financial objectives can be met if you have a serious health event.

We have life and health insurance advisers in our branches across New Zealand. Get in touch with a broker near you to have a chat about your life and health cover. We can help.