OnePath Income Protection

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OnePath Insurance products are all offered under their OneCare Plan. Please refer to the Product Disclosure Statement for further details.

Guaranteed upgrade of benefits

OnePath will automatically add any future improvements they make to any of the benefits available under the OneCare policy to your existing policy, if they do not result in a premium increase. Any improvements will apply to future claims.

Overview

Income Secure Cover enables you to keep up with your every day living expenses if you are unable to work because of illness or injury. OnePath Income Secure Cover will pay up to 80% of your income as a monthly benefit, thus allowing you to concentrate on your recovery, rather than worrying how you will pay the next bill.

Choice of four types of income protection cover

OnePath's Income Secure Cover is structured into four modules so that your individual needs can be easily catered for. The four modules are structured as follows:


Income Secure Special Risk – provides basic income protection for those whose occupations have traditionally been deemed uninsurable.
Income Secure Standard – provides core income protection for those who want to feel secure that they can meet their bills if they are unable to work due to illness or injury.
Income Secure Comprehensive – extends on the Standard Cover by offering additional benefits to assist with expenses incurred as a result of illness or injury.
Income Secure Professional – offers income protection that is designed for certain professional white collar occupations. This cover offers an extensive range of built-in benefits and features.

Built-in benefits

The following benefits are built into the Income Secure Cover Plan:

Benefits Special Risk Standard Comprehensive Professional
Total Disability Yes Yes Yes Yes
Partial Disability Yes Yes Yes Yes
Rehabilitation and Retraining Expenses Yes Yes Yes Yes
Basic Death Yes Yes No No
Enhanced Death No No Yes Yes
No Claim No Yes Yes Yes
Meal Allowance No Yes Yes Yes
Unemployment No Yes Yes Yes
Specific Injury No Yes Yes Yes
Trauma Recovery No No Yes Yes
Accommodation No No Yes Yes
Special Care No No Yes Yes
Immediate Family Member No No Yes Yes
Nursing Care No No Yes Yes
Relocation No No Yes Yes
Child Care Assistance No No Yes Yes
Rehabilitation and Retraining Incentive No No No Yes
Emergency Domestic Travel No No No Yes
Commuter No No No Yes

Built-in features

The following features are built into the Income Secure Cover Plan:

Benefits Special Risk Standard Comprehensive Professional
Indexation Yes Yes Yes Yes
Waiver of Premiums Yes Yes Yes Yes
Conversion to Living Expense Cover Yes Yes Yes Yes
Waiting Period Conversion Yes Yes Yes Yes
Family Cover Pause Yes Yes Yes Yes
Increasing Income No Yes Yes Yes
Unemployment Premium Waiver No No No Yes
Premium Pause No No No Yes
Cover Continuation No No No Yes

Additional options

The following options are available at an additional premium cost:

Benefits Special Risk Standard Comprehensive Professional
Increasing Claim Yes Yes Yes Yes
Booster Yes Yes Yes Yes
Priority Income No Yes Yes Yes
Accident No Yes Yes Yes
Premier Accident No Yes Yes Yes

Benefits at an additional cost

Extra Care Cover options

You can increase your protection by adding up to three additional benefits to your Income Secure Cover – Terminal Illness, Extended Needle Stick and Accidental Death Benefits:

  • Terminal Illness Benefit
  • Extended needle Stick Benefit
  • Accidental Death Benefit

Living Expense Insurance

Overview

OnePath Living Expense Cover recognizes the value of what you do every day, even if you're working part-time. If you get sick or injured the benefits can help you keep the household bills paid, pay for some help around the house, and even stay on top of your mortgage. OnePath will pay an agreed monthly benefit if you are significantly disabled.

Built-in benefits

The following benefits are built into the Living Expense Cover Plan:

Living Expense Benefit

If the life insured is significantly disabled due to illness or injury, OnePath will pay the Living Expense Benefit during the benefit period after the completion of the waiting period. To be eligible to receive this benefit, the life insured must have been:

  • Significantly disabled during the waiting period and
  • Continuously significantly disabled since the end of the waiting period (unless claiming as a recurring claim).

The Living Expense Benefit will be the monthly amount insured. If the life insured is on claim, the monthly benefit payment may be reduced if you or the life insured receive any other money for this disability.

Death Benefit

If the life insured dies or is diagnosed with a terminal illness, OnePath will pay a lump sum equal to 3 times the monthly amount insured. The life insured does not need to be on claim for this benefit to apply.

Built-in features

The following features are built into the Living Expense Cover Plan:

Indexation

To ensure your Living Expense Cover keeps up with the cost of living, OnePath will automatically increase the amount insured each policy anniversary by 5% or the Consumer Price Index (CPI); whichever is the greater.

Waiver of Premiums

If you are on a Living Expense insurance claim, you will not have to pay premiums on your Living Expense Cover. This provides financial relief during a time when affordability is often an issue.

Benefit reductions

OnePath will reduce the monthly amount insured payable in any month by the amount of 'other payments' received by you or the life insured for the purpose of income replacement due to illness or injury. 'Other payments' include:

  • payments received from any other disability income, illness or injury policies (including group insurance policies)
  • Any compulsory insurance schemes such as Workers' Compensation or Accident Compensation for loss of income
  • Sick leave payments received

Benefits at an additional cost

Extra Care Cover options

You can increase your protection by adding up to three additional benefits to your Living Expense Cover – Terminal Illness, Extended Needle Stick and Accidental Death Benefits:

  • Terminal Illness Benefit
  • Extended needle Stick Benefit
  • Accidental Death Benefit

Contact OnePath Insurance

Call: 133 667
OnePath Website: www.onepath.com.au