Employee Benefits & Group Insurance
For NZ SMEs and family businesses, the personal cover and the company cover sit on the same balance sheet. Key person, shareholder protection, business interruption, and group employee benefits: we structure them as one programme, not five silos.
How the cover actually works.
Key person insurance pays a lump sum to the business if a critical employee dies, becomes disabled, or is diagnosed with a major illness, covering the cost of replacing them
Shareholder protection provides the funds to buy out a deceased or disabled partner’s share of the business, in line with the terms of your buy-sell agreement
Business continuity or interruption cover replaces lost gross profit while your business recovers from a fire, flood, or other insured disruption event
Group benefits such as health, life, and income protection cover for staff, often arranged on tax-advantaged terms and with simplified underwriting compared to individual policies
This page is for you if…
SME owners and directors with personal guarantees on company debt
Partnerships and shareholder groups with buy-sell agreements
Businesses with key staff whose absence would dent revenue
Employers offering group health, life, or income protection benefits
Two ways to get business insurance sorted.
Going it alone
You compare policy wording and exclusions yourself, insurer by insurer.
No one flags it when your circumstances change and your cover no longer fits.
If a claim is ever declined, you deal with the insurer directly.
The cheapest premium today isn't checked against what it actually covers.
With a Smiths adviser
We compare business insurance across the providers we work with, in plain English.
We review your cover again as your circumstances change, not just once at the start.
If you ever need to claim, we deal with the insurer on your behalf.
You get one recommendation based on your situation, not a single insurer's product.
Talk to an adviser about this.
Thirty minutes with a licensed Smiths adviser, no obligation. Leave your details and we'll be in touch, usually within one working day.
Full audit of your existing cover, fund, and policy wordings
Comparison across the providers we work with
A clear written recommendation in plain English
Implementation paperwork handled by us, not you
Why this is easier with an adviser.
Map personal cover, key-person, and shareholder protection so they don’t overlap or leave gaps.
Structure premiums in the most tax-efficient way (some are company-deductible, some are not).
Compare group benefit underwriting across the insurers on our panel for staff plans.
Coordinate with your accountant and lawyer on the buy-sell agreement and trust structures.
The providers we work with for this cover.
Business cover
Our advice covers the providers shown here, not every insurer or KiwiSaver provider in New Zealand. The panel can change, and we'll always confirm it when we give you advice.
Common questions about business insurance.
Most NZ SMEs are owner-dependent. Six months of the owner missing usually means revenue falls 30–60%. Key person cover is the cash that buys time.
The agreement says what should happen. The insurance is what funds it actually happening. Without funding, agreements get re-negotiated under duress.
The business is normally both the owner and beneficiary of a key person policy, since the payout covers the financial impact on the company, not the individual's personal needs.
It's usually based on the value of each shareholder's stake under the buy-sell agreement, which is why the agreement and the cover need to be reviewed together, not separately.
Other services in this area.
Talk to the team.
Book a free review with Craig, Guy or Henry. No fees, and we're there if you ever need to claim.