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Here’s what you need to know about Life Insurance Policies…

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    Life insurance is what keeps your family’s finances secure if you die or are diagnosed with a terminal illness. Life cover pays out a lump sum to your nominated beneficiaries that can be used however it is needed, which allows your family to maintain their lifestyle without suffering financially. At a time when your loved ones are grieving, not having to worry about money can make a big difference.

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    What types of life insurance are there?

    Term life insurance/Life Cover: A lump sum payment that goes to your beneficiaries if you pass away or are diagnosed with a terminal illness.

    Trauma Cover: If you are diagnosed with a major medical illness or suffer an injury, trauma cover provides a lump sum that can cover your short-term expenses while you’re in treatment and recovery.

    Total and Permanent Disability (TPD) Cover: If you become totally and permanently disabled and are no longer able to work, TPD insurance provides a lump sum payment.

    Income Protection: If you are unable to work due to an injury or illness, income protection cover provides a monthly payment for a fixed period.

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How Frank Consolidated Policies & Saved $4,000 On Life Insurance

Frank
NSW

Comparing policies was his first step

Before he came to us, Frank was paying for three separate insurance policies that were costing him over $10,000 a year. He was frustrated and disappointed with his insurers but didn’t know where to start.

With the help from one of our Senior Advisers he was able to amalgamate his policies into one comprehensive plan. With a new yearly premium of $6,000, and an insurer that has paid out over $2 billion in claims to Australians over the past two years Frank’s family was better protected and he was paying less.

Frank has since returned to us and we’re helping him with his Income Protection claim. As he recovers from knee surgery this money will help him support his family while he’s unable to work.

How Maggie Saved On Life Insurance

Maggie
VIC

Funding her premium through her Self-Managed Super Fund.

After years of paying premiums to the same insurer Maggie found herself in trouble when they suddenly refused to renew her policy. Due to a change in her health and her finances, she was told that no insurers would protect her. That’s when she came to us.

Our advisers were not only able to get Maggie the peace of mind that an underwritten life insurance policy brings; they also helped her save a few thousand dollars on her yearly premium. She was even able to save on her out of pocket expenses by opting to fund the new premium through her SMSF (self-managed super fund).

Maggie is now in the process of upping her cover to include a Trauma Insurance benefit with the help of one of our Senior Advisers.
With our help she’s making the journey from uninsurable to fully protected.

Great reasons to trust us with your life insurance purchase

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OnePath Life Insurance FAQ

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In 1878, a company called Mercantile Mutual was formed and began providing insurance cover to Australians. Mercantile Mutual became ING Direct, but when ING Direct was taken over by ANZ Bank, OnePath stepped in to become the new life insurer for the company formally known as ING Life Insurance. OnePath’s entry into the Australian Insurance market made it possible for Australians to continue trusting the same providers a they have trusted for more than 130 years. OnePath today offers a wide range of coverage options to individuals, employers, and families so important protections against tragedy can be provided to those who need financial security and peace of mind.

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Different policy types offer different coverage and benefits options so policyholders will need to read their policy information carefully to determine the features applicable to their coverage and the benefits offered to them by OnePath. Some of the key features many policyholders will enjoy include:

  • An easy application process. Cover can be applied for online or over the phone.
  • Immediate acceptance, with cover beginning as soon as an application is accepted.
  • Coverage worldwide.
  • Flexible payment options and premium freezes for applicable policy types.
  • Combined cover discounts for purchasing cover for yourself and family members or for purchasing multiple coverage types.
  • Guaranteed continuing coverage and renewability of applicable policies, often with standard or capped premium payments.
  • Guaranteed acceptance for some policy types, including accident protection cover for applicants age 18 to 74.

To determine features of specific policies you are considering and to ensure these and other features are available to you, you can also shop online or speak with a life insurance expert.

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Cover options available through OnePath include:

  • Life Cover: Policyholders can purchase coverage so their beneficiaries will receive a death benefit upon death or upon diagnosis of a terminal illness. For many applicants, there is no limit on the maximum cover available for purchase. Life policies can be purchased up to age 74.
  • Total and Permanent Disability Cover: Up to $5 million in insurance cover can be purchased to ensure you are provided for if a total and permanent disability has made it impossible for you to ever work again. This type of cover can be purchased up to age 60 for those who have not had cover before.
  • Trauma Cover: Up to $2 million in cover can be purchased to provide a payout in case of a covered illness or injury.
  • Child Cover: A child up to age 17 can receive up to $200,000 in cover as an add-on to OnePath life insurance policies.
  • Income Secure Cover: Up to $5,000 in coverage is available to provide benefits in case of death or serious injury.
  • Business expense cover: If you become totally or partially disabled, this type of insurance will pay fixed monthly business expenses. Up to $60,000 in cover is available.
  • Living Expenses Cover: Up to $5,000 in coverage can be purchased to pay for monthly expenses in case of significant disability.
  • Group life and group salary cover: Employers and superannuation fund members can purchase these types of protection.

OnePath also has targeted policies for people aged 50 and older, and for individuals who want guaranteed-approval cover to protect them from life’s tragic events.


Get your competitive quotes from our comprehensive panel of Life Insurance Partners.

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Get your competitive quotes from our comprehensive panel of Life Insurance Partners.