The benefits of life insurance for small to medium sized businesses.

The benefits of life insurance for small to medium sized businesses.

The benefits of life insurance for small to medium sized businesses.

Learn what you need to know about Five+ Group Income and Life Insurance. Explore the features, benefits, and how it can assist the financial well-being for small to medium sized businesses (SMEs) along with their employees.

No small business wants to lose staff unexpectedly for health reasons, but in reality, it can happen and, in some cases, for an extended period of time – which can be detrimental to a SME business. It’s a risk that has had limited solution options – until now.

For quite some time, Financial Advisers have had difficulty obtaining Life and Income (protection) Insurance for SMEs because historically, the more traditional life insurers have not offered group insurance to this part of the market.

At Integrity, we look for ways to best support Advisers and their clients – because they deserve the best. We believe there is a better way to do life insurance and we are committed to doing just that.

Integrity have developed a group insurance product specifically for the SME market – Five+ Group Income and Life Insurance. A product like no other. A product that’s been co-created with Advisers like you for what the market needs. A product that’s efficient, sustainable, and cost-effective.

Our Five+ Group Income and Life Insurance product (unique to the Australian life insurance market) combines Income and Life Insurance in the one product. it was designed specifically for SMEs with 5 to 50 employees. It’s the first group product (of its type) to offer an income benefit to the employer, as well as the employee, and includes Death and Terminal Illness cover within the same contract. Plus, it can be purchased and maintained online.

Traditionally life insurance has not been available to support SMEs of less than 20 employees because of the traditional product structures offered by insurers – but with a simple product design, unique administrative process and streamlined technology platform, we at Integrity have met this challenge. Our solution supports businesses with life insurance protection for the impact of losing key staff to sickness, accident and / or injury along with protecting their most valuable asset, their employees.

“Everybody gets sick some time and to have that taken care of by the employer
I think that is nice” – Research participant

The advantage of Five+ Group Income and Life Insurance.

  • It’s the first of its kind in the Australian life insurance market.
  • Available for as few as 5 and up to 50 employees, supporting businesses that want to protect their employees, with all employees (including casuals) being covered under the policy
  • It’s an ‘off the shelf’ product that combines Income and Life Insurance.
  • There’s no minimum premium.
  • Ability for Advisers and Brokers to instantly quote, with a straight through application process.
  • It’s new event cover with no health questions being asked when purchasing the product – which means no individual Underwriting.
  • A unique Death and Terminal Illness benefit of $200,000. Plus, an Income benefit of up to $10,000 per month, with 80% paid to the employee and 20% paid to the employer to assist with any additional costs to their business. With a Benefit Period of 1 year. 
  • A compelling price point, usually between 1% and 2% of salary.
  • Advisers can choose to receive a level commission of up to 27.5% including GST.
  • For more information, check out the Five+ Group Income and Life Insurance PDS.

“The main thing for me is that it is a differentiation tool as a business owner…How are we different from other firms, very tangible way to show how we view ourselves in relation to employees” – Research participant

Integrity Life

Integrity Life

From the newsroom

Why insurance is important for small businesses.

  • Attract and retain top talent – insurance benefits within an employee benefits package can provide employees with security.
  • Mitigate the struggle to pay an additional salary – paying two salaries (the sick employee and their replacement) can be costly, especially as sick leave gets used quickly and worker’s compensation doesn’t cover sick leave or injuries that occur outside of work. This insurance product will benefit both the employee and the employer during these circumstances.
  • Support employees – this product pays sick and / or injured employees for an extended period of time (80% of their salary taxed at their marginal tax rate and 20% is provided to the SME business), with rehabilitation and retraining activities helping them to return to work sooner.

    Who is best placed to benefit from Five+?

    When speaking with Adviser, we found that the ideal target market for a combined Income and Life insurance product is:

    • Independently owned/founder run SMEs, with a mature business that’s operated for three or more years.
    • They have 5 to50 employees, the majority of which are full time staff. The business is within a competitive market for good talent and as a result value employee benefits that’ll differentiate them in market.
    • Their payroll process is automated.

      So, what should you do next?

      Get in touch with one of our BDMs at to understand how Five+ can support the growth of your portfolio.

      The product is a unique way to provide even better support to your SME clients – even those with just 5 employees. And if your client exceeds the maximum employee number for our group Life and Income (Protection) Insurance cover or have additional needs, our team can support with our Group Corporate Insurance option.

      About Integrity Life

      So far, we’ve been trusted to protect over 190,000 Australians from all walks of life. We’re committed to being your Partner today, tomorrow and for life. So, what are you waiting for? Go all out and get in contact with the team at Integrity Life at for a fresh alternative to the more traditional providers.

      This information has been prepared without considering your or your client’s personal objectives, financial situation or needs. Before acting on it, please consider its appropriateness to your circumstances. Refer to the relevant Product Disclosure Statement for full benefit details, terms, conditions and exclusions. 

      The latest with Integrity’s Here for You product and Underwriting

      The latest with Integrity’s Here for You product and Underwriting

      The latest with Integrity’s Here for You product and Underwriting

      We’re excited to share some exciting improvements we’re making to our Integrity’s Here for You product, pricing and Underwriting. These changes are designed to allow you to easily compare products and reflects the needs (and wants) of your clients – supporting them when they need it most and supporting you in getting your clients covered faster. 

      So, what does this mean?

      From 30 January 2023, new business clients could access the following product changes:

      Full 70% Income Replacement Ratio (IRR)

      Our 70% IRR can now be maintained for the life of the claim period for new clients with a To Age 65 Payment Period. 

      Bonus Multi-Cover Discount (total Multi-Cover Discount now up to 15%)

      Get an EXTRA 7.5% off the total Policy premium when new clients qualify for our existing Multi-Cover Discount and have at least $500,000 Life Cover and $500,000 TPD Cover. Multi-Cover Discount Fine Print applies. 

      The 7.5% bonus Multi-Cover Discount combined with our existing 7.5% Multi-Cover Discount provides 15% off the total Policy premium – and remember our discounts apply for the entire life of the Policy.

      Care Support Package Expanded to include Homemakers

      Our Care Support Package (10 ancillary benefits that provide support and reimbursement when times get tough) is now available for new clients who are in Occupation Class 5 (this includes important occupations such as Homemakers).

      Critical Illness Cover Medical Definitions Updated

      We’ve updated our Multiple Sclerosis – with specified severity medical definition and Severe Parkinson’s Disease medical definition. This means we’ll now pay a full benefit upon unequivocal diagnosis of either of these conditions.

      So, what does this mean?

      From 30 January 2023, clients could access the following Underwriting changes:

      Medical Requirements
      Revised or Removed

      The Health Consent Form for medical checks and investigations is no longer required, making it quicker and easier to work with Paramedical Providers. We’ll continue to require a digital Health Consent Form for medical reports.

      We no longer require a Hepatitis B & C serology and HIV test unless the sum insured is more than $10 million on Life or TPD Cover, $1.5 million on Critical Illness Cover or $20,000 per month on Income Insurance Cover.

      Removed the need for a Prostate Specific Antigen (PSA) test and will only request a mammogram if the client has not had their routine check-up (in line with medical recommendations).

      Financial Underwriting Requirements Reviewed

      Reduced evidence requests for both employed and self-employed individuals applying for a 2 or 5 year Benefit Period. Also, no financial requirements needed (subject to standard Underwriting) for 2 and 5 year Benefit Periods for employee’s applying for Income Insurance Cover.

      For Employees requesting a To Age 65 Payment Period, proof of income will only be required when monthly sum insured exceeds $20,000.

      For self-employed clients, we have increased the proof of income limit for monthly sum insured from $15,000 to $20,000 for 2 and 5 year Payment Periods.


      Got a question or need a hand?

      Check out our Supplementary PDS for more information or get in touch with our Distribution team at 

      Integrity Life

      Integrity Life

      From the newsroom

      The latest with our Income Insurance Cover.

      The latest with our Income Insurance Cover.

      The latest with our Income Insurance Cover.

      At Integrity, we deeply believe in the importance of co-creating with our Partners, because we believe life insurance is a product for life. That’s why we’ve designed our products with real life in mind. It’s also about making it comparable, easy to understand, sustainable for the long term and (most importantly) supports clients (and their loved ones) when they need it most.

      In October 2021, we launched our updated Income Insurance product. We’ve received some incredibly useful feedback from Adviser roundtables and engagement activities with Partners on how it could be enhanced. As a result, we’re excited to announce some important improvements we’ve made in response to what you told us.

      Improvements happening from 11 April 2022


      What do you get?

      Total Disability Top Up

      Is now available when a 70% Income Replacement Ratio (IRR) is chosen.

      This means your client could receive up to 90% benefit for the first six months of claim (a 70% IRR plus an approximate 20% Total Disability Top Up). 

      Passive Income

      We’ve removed Passive Income from the list of payments that would reduce a client’s monthly benefit.

      And if payments are received from other disability insurance policies, credit or mortgage insurance, those payments will only reduce the monthly benefit if the cumulative total of those payments and the monthly benefits exceed the maximum Cover Amount.

      5-year Payment Period

      We’ll now maintain a 70% IRR and use your client’s own occupation to assess the claim for the full Payment Period, where a 5-year Payment Period is selected.

      CPI Rate Increase

      Can now be chosen with Income Insurance.

      This allows your clients’ Cover to reflect their income increasing as a result of CPI – it’s important to ensure client’s aren’t over-insured as a result.

      Waiting Period 

      We’ve updated the terms of our Waiting Period so if a client works during the Waiting Period, those days will no longer extend the Waiting Period. Further, if your client has a 30, 60 or 90-day Waiting Period and remains at least Partially Disabled, the Waiting Period will not restart if they return to work during the Waiting Period.

      Blue Collar Occupation Class

      Clients who are aged 18-55 and in a Blue Collar Occupation class can now select a To Age 65 Payment Period.

      A refresh of our Income Insurance Cover

      In addition to the above features, our Income Insurance Cover provides choice and flexibility for you to tailor the product to your clients’ needs. Here’s some of the key features:

      • Customise policies across the Income Replacement Ratio (IRR), Waiting Period and Payment Period.
      • One Pre-Disability Income definition for all eligible occupations and expiry ages.

      We’ve also taken a stand on archaic fees

      Life insurance should be affordable and accessible – which is critically important to most everyday Australians. So, with us, you’ll experience:

      • No loading for monthly insurance premiums;
      • A 2-year base premium rate guarantee;
      • No cross-subsidise of our products; and
      • No policy fees.

      A hybrid Retail Distribution model to support you

      Our recently launched hybrid Retail Distribution model is designed to provide greater efficiency and support for our growing number of Partners across the country. It ensures a coordinated and nationally consistent approach across the team and all associated activities. By introducing this new distribution model, we’ll have greater flexibility on how we interact and operate with Partners – a reflection of the changing environment in which everyone now lives and works.

      What happens now?

      These improved Income Insurance features are available for new quotes from 11 April 2022. For more information, check out our Supplementary PDS or get in touch with your Integrity Life Business Development rep at  

      Integrity Life

      Integrity Life

      From the newsroom

      How to be more productive in a new hybrid work environment.

      How to be more productive in a new hybrid work environment.

      How to be more productive in a new hybrid work environment.

      After more than a year of working from home, Australian businesses and workers are now considering what the workplace will look like in 2022. Some are debating whether employees will be compelled to return to the workplace, given a choice to work from home permanently, or allowed to adopt a hybrid method that incorporates both.

      Several businesses have chosen to invite workers back into the office, allowing them to establish hybrid work arrangements that enable people to work remotely (at least part-time).

      But while having two separate workspaces one in the office and another at home – has its advantages, it also has its drawbacks. So, how can you maintain the same level of enthusiasm and productivity when working in two spaces? And how can you keep organised and guarantee that you always have access to everything you need to ensure you’re working both comfortably and productively, whilst having a work-life balance?

      Creating a productive hybrid work environment

      Here are some tips for navigating the hybrid work-from-home landscape as seamlessly as possible in 2022.

      1. Set up your home office in the same way you do at work. 

      Your workstation should feel comfortable, relaxed, and natural no matter where you are. Making the different work areas as similar as possible—especially in terms of organisation and ergonomics—is just one way of reducing the friction of managing multiple workplaces. Our brains benefit from consistency and familiarity because they help us focus on the essentials.

      Our top things that everyone should have on their desk:

        • Headphones (ideally noise-cancelling ones);
        • A universal charging station for all your devices;
        • Backup storage (flash drives);
        • An organiser for your office supplies (paper, pens, etc);
        • A task lamp (for the night owls); and
        • Framed photos of your kids, pets, or friends.

      2. Make yourself accountable. 

      While working from home has it’s benefits, frequent Zoom meetings can be very overwhelming and even stressful at times. To avoid burnout and missing any valuable information from your client meetings, consider recording your calls – it also helps for compliance purposes. It can save you time and adds an extra benefit for your client – their own personal recording to listen to your advice at any time. Just remember to ask permission before you press the Record button!


      3. Make technology work for you. 

      Integrity Life’s award-winning Adviser Portal allows Advisers to quote and apply for insurance with ease. Client authorities and declarations are done online, as are the offer and acceptance of Revised Terms.

      This means no wet signatures are required during the application process, with the exception of Binding Beneficiary Nominations when taking out insurance within Integrity’s Here for You Super Plan.

      You also have the option to send the Personal Statement to your clients via the Adviser Portal so they can complete it in their own time. We’ll let you know when the information has been completed so you can check it and submit the application. While we know this isn’t a solution for everyone, it can work for some clients. We’ve found that around 50% of our Advisers use this feature in 40% of cases and experience a 100% completion rate. This is (in part) because we do all the follow-up to ensure the forms are completed and because extensive user-testing means the forms are simple and easy for clients to complete.


      4. Go for a hybrid approach to engage and secure new clients. 

      While some clients still prefer in-person meetings, others may be unwilling to attend due to physical distance constraints and potential health hazards. Set goals in deciding on the right meeting format according to your client’s preference and plan a hybrid approach to meet your client’s expectations.

      Lastly, engage your potential clients by employing low-cost digital marketing strategies to direct these opportunities to you. A simple email marketing funnel or a sequence of emails sent on a predefined schedule to your potential client leads might help keep them engaged. Use this opportunity to give your clients an update on what’s happening in the industry and how it can impact them, including the changes made to  Income Insurance products.

      Because the pandemic has changed many customers’ perspectives on where they’ll live and work in the next five years and how near they feel they need to be to their Advisers, Advisers should consider digital solutions to attract and maintain clients.

      Most individuals are unfamiliar with hybrid work, so keep experimenting with your ways of working.

      So, why not give some of these strategies a try?

      Integrity Life

      Integrity Life

      From the newsroom

      How to make working from home, work for you.

      How to make working from home, work for you.

      How to make working from home, work for you.

      Whether or not you’re working from home as a result of restrictions, we know that the ever-evolving COVID situation means that being flexible is key. Here are some neat ways that Advisers can continue to service their clients in a COVID safe way.

      Record your client meetings with Zoom.

      By now, most working Australians will have better video conferencing skills and be more comfortable conducting meetings this way. By recording your calls (with permission of course) you have a record for compliance purposes, it can also be a value add to clients to give them a copy so they’re not having to take notes and can refer to your awesome advice at any time!

      Signature free (almost).

      No signatures are required from you or your client when submitting applications. All client authority and declarations are done online, with one exception. For legal reasons we require a client signature for Binding Beneficiary Nominations insurance taken out within Integrity’s ‘Here for You’ Super Plan. Completed forms can be accepted via email to revised terms are also offered online and are available for you to accept in our portal electronically, without the need to provide your client’s signature.

      Send app to client.

      Completing face-to-face applications can be challenging in the time of COVID, but we have a solution that not only gets around this, but it also saves you a heap of time with data entry. We built a feature in our portal that allows you to send part of the Insurance Application directly to your client for them to complete some of their personal information.

      You stay fully in control though and are alerted when the information has been completed. We don’t do anything with this info until you have checked it and submitted the application.  

      While we know this isn’t a solution for everyone, it can work for some clients. Around 50% of our Advisers use this feature in 40% of cases, the best number though is that we have a 100% completion rate. This is (in part) because we do all the follow-up to ensure the forms are complete, and because extensive user-testing means the forms are simple and easy for clients to complete.

      Why not give some of these ideas a try?

      Integrity Life

      Integrity Life

      From the newsroom

      Life insurance key considerations. Getting the best deal and avoiding pitfalls.

      Life insurance key considerations. Getting the best deal and avoiding pitfalls.

      Life insurance key considerations. Getting the best deal and avoiding pitfalls.

      We spend a lot of time creating information for customers on how best to approach the purchase of Life Insurance. We understand it can be a complicated purchase so, here is a handy guide on key considerations for first time buyers.

      Believing life insurance is too expensive.  

      One of the most common objections we hear from those who do not have life insurance is around the cost. Many people believe that it is out of reach for most Australians. The truth is, according to Canstar, consumers overestimate the cost of life insurance by almost double*.

      Life insurance isn’t, generally, any more expensive than health insurance or car insurance. The big difference is that we are talking about your life and the livelihood of those who depend on you. Based on that, it is worth looking into (at the very least).

      Buying too little coverage.

      The more life insurance coverage you buy, the more you will pay. That does not mean you should skimp on coverage, though, just to save money. The last major study of this by Rice Warner in 2015 estimated that Australians are underinsured by $471 billion for basic life cover and $3,435 billion for income protection. That is a staggering amount, and the industry continues to grapple with how to address this.

      Relying too much on employer-provided coverage.

      If you have a group life insurance policy through work, don’t assume that the coverage you have is adequate. Generally, these types of policies are based on broad assumptions rather than individually costed needs. Plus, group life insurance policies typically aren’t portable. That means that you can’t keep your coverage if you leave your job. With the large number of layoffs related to the coronavirus pandemic, people with life insurance policies through work have lost their coverage, that’s why it’s important to either have your own policy or have additional coverage which tops up the gap.

      Keeping Information from the insurance company.

      When you apply for life insurance, you’ll be asked a variety of questions about your health, your family’s medical history, your occupation and even your hobbies. This is part of the process called underwriting that insurers use to decide whether to give you coverage and what rate to charge you. It’s important to answer all of the questions honestly. Insurers may verify the information you provide by asking for your permission to get your medical records from your doctor and your prescription drug history, and using other third party sources and possibly requiring you to take a medical exam. An insurer might deny you coverage if it discovers you’ve withheld information on an application. If you do successfully hide something (which can be hard to do), the insurer might not pay a claim if your death is related to the information you didn’t disclose.

      Not understanding what you’re buying.

      Understanding the types of life insurance is not a simple task. For starters ‘life insurance’ isn’t just cover if you die. It can also cover things like permanent disability, trauma or accidents, or your income if you’re unable to work. There are many types of life insurance and the only way to really know what you’re covered for is to read the documentation or speak to your Financial Adviser.

      Not understanding the products also robs you of one of the enduring benefits of life insurance (outside making a claim) which is comfort. If you never have to make a claim you have the comfort of knowing in a near-miss how you or your dependents would be taken care of. COVID-19 has shown many people what it feels like to be unprepared and that feeling can be awful. Life Insurance can give you peace of mind in uncertainty.

      Believing you can’t be covered if you have ever been sick (or will have to pay a lot). 

      Whether you have pre-existing conditions or have had an illness or injury in the past, does not automatically disqualify you from Life Insurance, nor does it mean you will have an exclusion. Take Mental Illness as an example, if you have had minimal time off for a mental health situation, and it was a while ago, but have since returned to work, we would generally consider that part of ‘life’ and standard rates would likely apply.

      Putting Off the Purchase of Life Insurance.

      One of the biggest mistakes when it comes to buying life insurance is waiting to buy a policy. Budgets and time can easily push off a life insurance purchase. And don’t wait with the hope that you’ll improve your health, such as losing weight, because every year you get older, and waiting increases the chance that you could develop other health issues.

      The younger you are when you buy life insurance, the more affordable it will be. That’s because your age as well as your health affect the rate you pay.


      As the saying goes, life insurance is like a parachute, if you don’t have it the first time you need it, you don’t get a second chance.



      Please note. This information has been prepared without considering your personal objectives, financial situation or needs. Before acting on it, please consider its appropriateness to your circumstances.



      Scott Hodgson

      Scott Hodgson

      Chief Underwriter