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Group life, total and permanent disability (TPD) insurance for companies with fewer than 300 employees

A group life, total and permanent disability plan could be a great way to attract and retain the best talent.

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Group life, total and permanent disability (TPD) insurance. Attract and retain great talent with Mercer Marsh Benefits

Our Select Mercer Marsh (MMB) Group Life, Total and Permanent Disability (TPD) Insurance solution makes it easier for SMEs to access the same high-quality benefits usually reserved for large corporates.

Whether you have a local team or your business is part of a multinational workforce in Australia, we’ll help you protect your people and their families in the event of accident or illness.

Offering exceptional benefits like this also helps your business stand out as a quality employer, so you attract and retain great people.

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 life and TPD insurance benefits

Attract and retain top talent

In today’s competitive business landscape employees look for more than just a salary. Providing group life and disability insurance helps your business stand out as an employer of choice to attract and retain great employees.

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 leads to higher productivity and better profitability.

Corporate level income protection benefits

Thanks to our scale and strong industry relationships, we can negotiate attractive group premium rates for SMEs. This means you’ll access benefits usually reserved for larger corporates – with cost effective cover.

Consistency across borders

If your business is multi-national, our Select MMB Group Life and TPD solution is a great option. It will help ensure your employees working in Australia are well covered in line with your global standards.

What type of businesses can MMB Select Group TPD insurance cover?

It’s designed for small to medium sized businesses (SMEs) with a minimum of 20 employees and a maximum of 300.

If yours is a manufacturing business you’ll need a minimum of 100 employees.

Coverage is available for most industries, including financial services, technology, pharmaceuticals, legal and professional services.

Some high-risk industries such as aviation and certain hazardous occupations may be excluded.

Whether you employ 20 people, or closer to 300, our group disability insurance brokers can design a plan to fit your needs and budget.

What is covered by Select MMB Life, TPD Insurance?

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Life and disability cover

This insurance solution offers significant life and permanent disability coverage options for your employees.

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Life cover

Lump sum in the event of an employee’s death.

Terminal illness cover

Lump sum if an employee is diagnosed with a terminal illness (12 months or more life expectancy).

Total and permanent disability (TPD)

Cover if an employee is permanently unable to work, confirmed by two or more medical specialists.

Easy access to insurance

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

Smooth administration and claims

Easy and efficient administration for all your employees, with well-respected and trusted management and reliable claims processes.

General exclusions

While group insurance provides widespread protection, some exclusions apply.

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High-risk industries

Certain high-risk industries, like aviation, are looked at individually. Since this is a group policy, what each person does in their free time or hobbies doesn’t affect the coverage.

Unlawful acts

Suicide and self-inflicted injury exclusion

No benefit will be paid if the claim is caused directly or indirectly by suicide, attempted suicide, or intentional self-inflicted injury that happens within the first 13 months after the insurance coverage starts.

Policy-specific limitations

Exclusions outlined in the group policy document.

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 MMB Group Life and TPD Insurance.

Securing a group life insurance for small business has become challenging due to the high cost, fewer insurance providers and the complexities involved in administering this type of insurance. In response to these challenges, Mercer Marsh Benefits has created a unique and innovative life insurance Facility tailored specifically for the Australian market. Our Facility offers a seamless way for small enterprises to provide life and/or salary continuance coverage, leveraging the collective buying power of our portfolio.

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Why have group life and disability insurance cover?

Group life and disability insurance is a powerful way to show you value your employees – and it can give your business a competitive edge when recruiting.

Imagine a top-quality candidate who has multiple job offers – access to a life and disability plan such as Select MMB Group Life, Total and Permanent Disability could be the deciding factor in bringing their talent to your workplace.

Talk to us about tailoring Select MMB Group Life, TPD cover to your business.

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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 income protection (SCI)

Group salary continuance and income (SCI) protection gives your employees comfort that if they can’t work for a period, they’ll still have an income.

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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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Frequently asked questions

Your business generally needs a minimum of 20 employees. For manufacturing companies, the minimum is 100 employees. MMB Select offers solutions for businesses with up to 300 employees.

Group life policies usually include death cover, terminal illness cover, and total and permanent disability (TPD). Many employers also implement group disability insurance (salary continuance) to provide income replacement if an employee is unable to work due to illness or injury. Talk to us about what’s best for your business.

Advantages include affordability, uniform coverage, and added benefits like high quality rehabilitation services. Disadvantages include limited flexibility (employees can’t tailor their cover) and potential exclusions for high-risk occupations.

A group disability insurance broker has specialist knowledge of SME needs and a network of market connections. Unlike financial planners who work with individuals, Through Select MMB we can negotiate group policies that balance affordability with broad employee protection.

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.

Forms and documents

Employee benefits articles and resources

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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