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Group income protection insurance solutions for companies with fewer than 300 employees

A group income protection plan could be a key incentive to attract and retain the best people.

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Group salary continuance insurance (SCI). Attract and retain great talent with Mercer Marsh Benefits

Your business wants to attract the very best employees - and Select by MMB Group Income Protection can help you do just that.

This group income product (also known as MMB Salary Continuance Insurance or SCI) provides your employees ongoing income in the event they get sick or injured. 
 
Covering the cost of this benefit helps employees feel secure and valued and shows you care about your workforce.

The benefits your employees receive with Select by MMB Income Protection are in line with those that large corporate businesses enjoy, so your business remains competitive with multi-national companies whose employees may already enjoy this type of cover.

The MMB SME Facility is a specialised insurance and employee benefits solution designed specifically for SME's. The facility has been serving the SME market since 2020 and aims to provide comprehensive employee benefits coverage that helps businesses attract, retain and engage their employees.

Group income protection benefits for your business

Attract and retain great talent

Stand out as an employer of choice. Providing subsidised income protection cover sets you apart in a competitive market, helping you attract and keep high performing or key employees, and as a business shareholder, you can benefit from the cover too.

Improve productivity and profitability

Employees value investment in their wellbeing. Providing financial security for them and their loved ones is good for business - healthy workplaces often lead to higher productivity and better profitability.

Corporate level income protection benefits

Our global relationships mean we have the size to negotiate preferential terms for your business. This means you’ll enjoy corporate-level group income protection insurance benefits even though your business has 300 or fewer employees.

Compete with the large corporates

Select MMB Group Income Protection benefits are in line with what multi-national companies offer key staff. If that’s your business, this will help ensure your employees working in Australia can enjoy those benefits too.

What type of businesses can Select MMB Group Income Protection cover?

Marsh’s group insurance solutions are designed for small to medium enterprises (SMEs) across all industries, but it’s especially relevant for companies in financial services, pharmaceuticals, technology, retail/wholesale and professional services.

Select MMB is ideal for businesses with minimum 20 employees (or 100 employees if manufacturing company) and maximum 300 employees.

What is covered by Select MMB Group Income Protection Insurance?

selected option

Group income protection

This insurance solution offers group income protection which covers a portion of an employee’s income should they be unable to work due to illness or injury.

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Income protection

Pays a percentage of an employee’s income, up to a specified limit, over a specific time period, whilst an employee is unable to work.

Waiting and rehabilitation

Benefit payments under the policy starts after a 90-day waiting period. Under Select MMB Income protection policy a potential claimant can access rehab support to help them to return to health and work as soon as possible.

Flexible benefit period

There is a choice (2 years, 5 years or Age 65) however, many businesses opt for a two-year period. Options where the benefit period is more than 2 years, the insured benefit reduces to 50%.

Pre-existing conditions

Very flexible conditional acceptance of employee pre-existing conditions, provided they are working at the time the policy starts.

Early intervention programmes

Injured or sick employees have access to top quality early intervention assessments, rehab, and counselling support to aid employees in their recovery to health and return to work.

High quality case management

Our co-ordination and management of claims and employee rehab is highly regarded. With open communication and expert management, we’ll help ease your valued employee back into work.

Easy access to insurance

As a group policy, your employees get the benefit of automatic cover without medical underwriting, up to agreed limits.

General exclusions

Group insurance offers broad protection, but there are some situations where payments won’t be made. Below are common reasons why a claim might be denied if it was caused or partly caused by these situations.

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Intentional self-inflicted Injury

No payment will be made under this Policy if the claim is caused or contributed to by an intentional self-inflicted injury.

Uncomplicated pregnancy or childbirth

Claims arising from uncomplicated pregnancy or childbirth are excluded from payment under this Policy.

War

Any claim resulting from war is not covered and will not receive payment under this policy.

Active deployment in armed forces in war or police action

Claims related to active deployment in the armed forces during war or police action situations are excluded. However, reserve service in non-combat and disaster relief activities is not excluded.

Other specific exclusions or restrictions

Additional exclusions or restrictions may apply as advised by us in writing, particularly in relation to coverage subject to Takeover Terms and/or our underwriting assessment.

Do you have questions?

We can help with your insurance needs whatever the size of your business. If your SME employs anywhere between 20-300 employees, talk to us about Select by MMB Group Income Protection Insurance.

Getting group life or salary insurance for small businesses has become difficult because it’s expensive, there are fewer insurance companies offering it, and managing the insurance can be complicated. To help with this, Marsh has created a special life insurance program just for the Australian market. This program makes it easy for small businesses to offer life and salary continuance coverage by using the combined buying power of many businesses together.

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Why have group income insurance cover?

Imagine you’ve interviewed extensively for a management position, and the candidate you most want to secure is interested. However, she’s has had offers from several other prospective employers too.

But you have an edge; you’ve arranged Select MMB Group Income Protection Insurance for your managers. You explain that should she get sick or injured, this will cover 75% of her salary for up to two years, plus she’ll receive rehabilitation care to help her recovery.

That financial security is extremely valuable; she has young children and a mortgage to pay. This aided her decision which secured fantastic talent for the business.

Talk to us about tailoring Select MMB Group Income Protection (SCI) cover for your business and your key people. 

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Why choose Marsh?

Select more value, control costs

Thanks to our global partnerships, your business can access terms that are usually reserved for large enterprises. Obtain stable premiums and predictable expenses. With Select by MMB, you can confidently control costs and resources, helping your business grow and succeed.

Select more choice, customise your employee benefits

Select MMB provides SMEs with many options. With some coverage options, employees can have access to health and wellness programmes, diabetes care, bowel screening, and other support.

Select efficiency, save time and effort

We’re experts in developing employee health and wellbeing benefits. We have developed these products on your behalf, so you don't have to do the hard work yourself.

Related insurance solutions

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Group health insurance

GOLD standard hospitalisation and outpatient services cover for your employees and their families, for just about any sort of treatment that requires hospital care.

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Life and disability group cover

Having life insurance and disability cover in place for your employees offers them peace of mind and makes your business attractive to new talent.

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Frequently asked questions

If you’re wondering, “can a smaller business take out group income protection?”, the answer is yes, if your business has a minimum of 20 employees.

Yes, with this cover, the staff will feel valued and potentially will be more productive. The cover they’ll receive is extensive – its corporate level income protection cover for businesses with fewer than 300 employees. We can negotiate lower premiums with insurers due to our size and reach in the market.

Yes, you can structure it – varying the coverage amount and the length of time the benefit is payable. Typically, the percentage of income cover decreases after two years, but it’s up to you. Talk to us about your options.

The cost will depend on the size and profile (age and gender mix) of your workforce, more specifically the number of people you are arranging cover for. Cost is also affected by your chosen benefit period, and your industry risk profile. Industries less prone to risk, pay less in premiums.

No, FBT is not applicable on employer funded group income protection policies.

Good question. Through Select MMB we can negotiate group policies that balance affordability and broad employee protection. Also, accessing a product such as Select MMB Group Income Protection cover and setting it up for maximum employee benefit, is better done by specialists.

We can help ensure that when or if the time comes, you are maximising every advantage from your policy, and getting your employees healed and back on their feet as quickly as possible.

An individual disability insurance plan is tailored to one person’s needs, usually costing more and requiring medical assessments. A group disability insurance plan provides consistent cover across all eligible employees, is more affordable, and typically does not require medical evidence (within limits).

Forms and documents

Employee benefits articles and resources

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11/10/2023

A simple guide for Australian small businesses on managing people risk, supporting workforce health, and reducing disruption through practical, step-by-step actions.
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Mental health and your business

11/10/2023

Mental health affects small teams quickly. Learn how practical support and digital health benefits can help Australian businesses support employee wellbeing.
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Supporting employee mental health in small businesses

20/02/2023

Steps small businesses can take to support employee mental health, manage people risk and build a safer, more supportive workplace.

Marsh Advantage Insurance Pty Ltd (ABN 31 081 358 303, AFSL 238369) (“Marsh”) arranges the general insurance (i.e. not the Discretionary Trust Arrangement) and is not the insurer. This page contains general information and does not take into account your individual objectives, financial situation or needs. For full details of the terms, conditions and limitations of the covers, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or re-insurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). Any advice or dealing in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) (“JLT”). JGS and JLT are businesses of Marsh McLennan. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

LCPA 26/1455