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OnePath Life Insurance

Life Insurer Information

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.

Awards:

OnePath has been the recipient of myriad awards in recent years in recognition of exemplary service provided to policyholders. Examples include:

  • 2012 Gold Winner Risk Company of the Year – Money Management/DEXX&R
  • 2012 Gold Winner Term Life, TPD and Trauma – Money Management/DEXX&R
  • 2012 Trauma/Critical Illness Product Award – Plan for Life/AFA Awards
  • 2011 Gold Winner Risk Company of the Year – Money Management/DEXX&R
  • 2012 Outstanding Value for Life Insurance – Canstar Cannex
  • 2011 Best Overall Value – Canstar Cannex
  • 2011 Best Packaged Life – Canstar Cannex
  • 2011 Best Income Protection – Canstar Cannex

Key Features

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.

Types of Cover

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.

Performance

In 2011, OnePath paid out $338 million in claims to policyholders and beneficiaries. This included $150.5 million in group life insurance death benefit claims; $75.9 million in total and permanent disability claims; and $89.4 million in group salary continuance insurance.

Making Claims

A life insurance claim may be made via email, phone, or fax. Policyholders and beneficiaries can call 1800 500 229 any time between 9 AM and 6 PM Sydney time on weekdays. A request for claims forms by mail can be sent to OnePath Life, Direct Insurances Claims, GPO Box 4028, Sydney NSW 2001. To submit a fax requesting forms, use (02) 9234 5015. The email address to request claim forms is Diclaims@onepath.com.au.

After a request is made, all necessary claims forms will be sent. You must fill out forms completely and provide all requested information for timely processing of your claim.

Member Rewards

OnePath allows policyholders to earn Qantas Points for all premiums paid. Guaranteed upgrades are available and all future improvements and new features are automatically added to existing policies as long as upgrades will not cause an increase in premiums. Members are entitled to flexible cover so policy benefits increase to keep pace with inflation, and additional coverage can often be purchased by members with no need for new medical exams. As long as premiums are paid, policyholders are also entitled to guaranteed continuing cover. Beneficiaries who make death or terminal illness claims are also provided with grief counseling as part of standard policy benefits.

Locations & Contact Info

GPO Box 4148
Sydney NSW 2001
Fax: (02) 9262 5319
Telephone for insurance purchased through an advisor: 133 667

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