OnePath Insurance

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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

OnePath cover provides a one-off payment, or regular monthly payment, if you die or are diagnosed with a terminal illness. Life cover protects your family's lifestyle if something happens to you. This benefit is commonly used to clear debt, assist your family with living expenses and generally keep the household afloat.

Built-in benefits

The following benefits are built into the Life Cover Plan:

Death Benefit

If the life insured dies, OnePath will pay the amount insured.

Terminal Illness Benefit

If the life insured is diagnosed as having a terminal illness, OnePath will help make this time easier by paying the amount insured in advance.

Accommodation Benefit

If a medical practitioner certifies that the life insured must remain confined to bed due to terminal illness, OnePath will reimburse accommodation costs for an immediate family member of up to $150 per day for a maximum of 14 days.

Financial Advice Benefit

If OnePath pays the amount insured for death or terminal illness, they will reimburse up to $2,000 for the preparation of a financial plan by a financial adviser.

Advance Assistance Benefit

If the amount insured is more than $25,000 when the life insured dies, OnePath will pay an advance of $25,000 on receipt of a full Australian death certificate or other satisfactory evidence. This payment will ensure that your dependants can take care of the expenses associated with your death, such as funeral costs.

Built-in features

The following features are built into the Life Cover Plan:

Serious Disability Premium Waiver

If you are age 65 or under and suffer an illness or injury that results you being permanently unable to perform at least 2 of the activities of daily living without the physical assistance of another person, OnePath may waive your premiums for up to 2 years. This premium waiver can help ease the financial pressure you may experience after such a dramatic change in circumstance.

Indexation

To ensure your Life 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.

Future Insurability

OnePath will allow you to increase your level of cover without having to supply medical evidence when significant personal events occur such as marriage, the birth of a child or when you take out a mortgage/increase your mortgage. Cover may be increased once in any 12 month period. The amount available for increase will depend on the type of event.

Premium Freeze

If you choose stepped premiums, you will be able to freeze the amount of your premium (excluding the Policy Fee) for your life cover so that it does not increase in future years. The amount insured will generally reduce at each policy anniversary to an amount that could be purchased by the amount of the frozen premium. You can freeze your premium at the start of your policy or within 30 days of any policy anniversary date. You can unfreeze your premiums on a policy anniversary by applying in writing to OnePath.

Additional options

The following options are available at an additional premium cost:

  • Premium Waiver Disability Option

Benefits at an additional cost

Extra Care Cover options

You can increase your protection by adding up to three additional benefits to your Life 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