Group Insurance

Employees are the backbone of your business. Every day risks such as illness, injury and death, can happen to your employees, which in turn will have an impact on your business.

Group Insurance provides cover where benefits and limits are defined for the group rather than the individual. A common policy owner or group owns the policy, e.g. superannuation funds, partners, trustees, companies, or professional associates.

Group insurance plans can be structured inside or outside of superannuation.

Group insurance offers

  • Wholesale premiums that are usually considerably lower than individual rates;
  • Automatic acceptance for insurance cover is available in most circumstances. Generally this means there   is no individual underwriting within defined limits;
  • Streamlined administration providing greater convenience;
  • Fewer restrictions on pastimes and hazardous activities, compared with those generally found in an individual policy; and
  • Easier access to cover because of preferential underwriting for "groups".

Group Salary Continuance

Group Salary Continuance provides a monthly benefit (up to 75% of pre-disability income) for an insured member or employee who is unable to work due to a protracted illness or injury. The benefit payment periods range from two years to age 65. Waiting periods range from 30 days up to two years.

Group Life Insurance

A lump sum payment is made on either the death or total and permanent disablement of an eligible member.

How we can help

The area of Group Life and Salary Continuance Insurance is becoming increasingly complex, with constantly changing products, benefit designs, policy terms and conditions, not to mention tax and compliance issues. Direct Super Solutions save our clients time and money by providing comprehensive services, administration, and claims management.

Some of our services include

  • Tender management and due diligence;
  • Underwriting and claims management;
  • Renewal process and audit of premium reconciliation annually;
  • Group (member) presentations.

 If you would like to access this service, contact us via info@directsupersolutions.com.au or by telephoning 0417 142 817 for more information.