Statement of Advice

Product Information – OneCare and OneCare Super

Part Two

Instructions

This document provides a summary only of the features of OneCare, OneCare External Master Trust and OneCare Super, information about OnePath and OnePath Custodians Pty Limited and describes scenarios where risk insurance may be appropriate. Advisers must ensure that that they use the information from this document only in appropriate circumstances and in accordance with the law. For example, where the information is used in a statement of advice, advisers must ensure that they are acting in the best interest of the client. As this information is only a summary, advisers should supplement this information with additional information from the PDS and TMD as is relevant to the particular client situation. Advisers remain responsible for the whole of any Statement of Advice prepared by them that contains any of the information included in this document. You should also consider and conform to any standards or requirements of your applicable advice licensee in using or not using this wording in any Statements of Advice or other documents.

Important Information

onepath.com.au Zurich Australia Limited ABN 92 000 010 195 AFSL 232510 OnePath Custodians Pty Limited ABN 12 008 508 496 AFSL 238346 This document is current at 1 August 2022 but is subject to change. This document is for the use of advisers only. The information provided (including the statements on taxation which are based on current laws, rulings and interpretation) is of a general nature and does not take into account potential policy holder’s personal needs and financial circumstances. Potential policy holders should consider the appropriateness of the information, having regard to their objectives, financial situation and needs. This document does not alter the responsibilities of the adviser under the Corporations Act in relation to providing advice to their clients. OneCare (including OneCare External Master Trust and OneCare SMSF) are issued by Zurich Australia Limited (Zurich, OnePath) ABN 92 000 010 195 AFSL 232510 and OneCare Super is issued by OnePath Custodians Pty Limited (OnePath Custodians) ABN 12 008 508 496 AFSL 238346 RSE L0000673. OnePath and OnePath Custodians are not related bodies corporate. Potential policy holders should read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) available at onepath.com.au and consider whether this product is right for them. OnePath and OnePath Custodians accept no responsibility for the appropriateness of any of the wording to applicant’s objectives, financial circumstances or needs.

Table of Contents

Instructions	1

Important Information	1

About OnePath	3

OneCare offers flexible product structures	5

OneCare offers attractive discounts	8

Life insurance	9

Total and Permanent Disability (TPD) insurance	12

Trauma insurance (not available under superannuation)	17

Income protection insurance	24

Living Expense insurance (not available under superannuation)	28

Business Expense insurance (not available under superannuation)	30

Extra Care – Extended Needle Stick Cover (not available under super)	32

Extra Care – Accidental Death Cover	33

Extra Care – Terminal Illness Cover	34

Child Cover (not available under superannuation)	35

About OnePath

Helping you shape and protect your future

OnePath is one of Australia’s leading providers of insurance, superannuation and investment solutions. We have been helping Australians grow and protect their wealth for over 140 years, previously as Mercantile Mutual, ING Australia and more recently as Australia and New Zealand Banking Group Limited (ANZ).

OnePath insurance solutions are provided by Zurich Australia Limited, a company within Zurich Financial Services Australia Group.

Employing more than 50,000 people worldwide, the Zurich Insurance Group operates in over 210 markets as an insurance specialist and is committed to placing customer needs at the heart of their business.

OnePath superannuation solutions are provided by OnePath Custodians, which is part of the IOOF Group. As one of the leading financial services group in Australia, with over 170 years’ experience in helping Australians secure their financial independence, the IOOF Group provides services to around 1.1 million clients and has $202.3 billion in funds under management, administration and advice (as at 30 June 2020).

OnePath has a comprehensive range of wealth and insurance products available through financial advisers or direct to customers making it easier for you to find the solution that best suits your needs.

At OnePath we value and appreciate our customers, our staff and the communities we operate in. We are committed to acting with the highest standards and to meeting our corporate responsibilities. We also encourage and support staff involvement in volunteering and charitable activities supporting the wider community.

OnePath actively participates in forums looking at regulatory and industry change. We also regularly review and conduct research to ensure we are attuned to changing customer and market needs.

OnePath pays claims

OnePath has a solid reputation for paying claims quickly and efficiently. In 2020, OnePath paid more than $961 million in insurance claims to Australians and their families. OnePath also has a great reputation for professional claims service. If you do have to make a claim, OnePath will provide you with a dedicated claims assessor who will work with you from start to finish. You also have access to a leading rehabilitation team, who can help you get back to work sooner.

OnePath has a market leading range of insurance products

OneCare is OnePath’s award-winning insurance cover. OneCare combines market leading features, benefits and definitions with competitive pricing.

The flexible nature of OneCare allows you to build an insurance package tailored to your personal circumstances; no matter what your stage, whether you are single, have a family or run a business.

In addition, OneCare allows you to tailor insurance for all members of your family and/or business all under the one policy.

OnePath provides an electronic application system

OnePath has provided me with an intuitive electronic application system called OneCare Express. OneCare Express allows your application to be completed quickly and efficiently, and it may even allow me to confirm whether you are eligible straight away. This is extremely valuable because timely completion of your application is essential when mitigating your exposure to risk.

OnePath has provided me with their tele-interview service. OneCare tele-interview service allows you to answer the personal statement questions in your own time and the comfort of your own house. This service allows you to answer personal questions over the phone to a specialist.

OnePath has also provided me with their Tele-Interview personalised URL service. OneCare Tele-Interview personalised URL service allows you to answer the personal statement questions in your own time and the comfort of your own home. This service allows you to log into your own personalised URL to answer personal questions.

Why OneCare?

OneCare is award winning

OneCare has been recognised as a market leader by several independent industry organisations. The table below highlights just a few of the awards OneCare has won over the past few years.

Year	Award
Core Data SMSF Service Provider Awards	2021	Winner – SMSF Insurance/Trustee Category Award
Core Data SMSF Service Provider Awards	2019	Winner – SMSF Insurance/Adviser Category Award (2017)
AFA and Beddoes Institute	2019	Winner – Return to Health and Wellness Award
AFA and Beddoes Institute	2019	Winner – Claims Team of the Year Award (2017 and 2018)
AFA and Beddoes Institute	2018	Winner – Consumer Choice Award
AFA and Beddoes Institute	2018	Winner – Best Turnaround Time Award (2017)
AFA and Plan for Awards	2016	Winner – Company of the Year for Term/TPD Insurance, and Trauma Insurance
Cannex Canstar	2016	Winner – Outstanding Value for Insurance Australia, Trauma Insurance, and Packaged Insurance
Cannex Canstar	2015	Winner – Outstanding Value for Insurance award (2008, 2009, 2010, 2011, 2013 and 2015)
Money Management/DEXX&R Adviser Choice Risk Awards	2013	Winner – Risk Company of the Year (2008, 2010, 2011 and 2013)
Money Management/Dexx&r Adviser Choice Risk Awards	2011	Winner – Trauma product (2010)
Money Management/Dexx&r Adviser Choice Risk Awards	2011	Winner – Term & TPD Rider Product (2008, 2009 and 2010)
Money Management/Dexx&r Adviser Choice Risk Awards	2011	Silver winner – Risk Disability Income Product
AFR Smart Investor Blue Ribbon Awards	2011	Winner – Company of the Year (2008, 2009 and 2010)
AFR Smart Investor Blue Ribbon Awards	2011	Winner – Income Protection (2010)
Cannex Canstar	2011	Winner – Insurance Packaged (2010)
Cannex Canstar	2011	Finalist – Outstanding Value Insurance –Income Protection
Asset Innovation Awards	2007	Finalist – Trauma Insurance Product of the Year
Smart Investor Blue Ribbon Awards	2007	Highly commended – and TPD Cover
Money Magazine's Best of the Best Awards	2007	Bronze winner – Best Income Protection Features
Money Magazine's Best of the Best Awards	2007	Bronze winner – Best Term and TPD Risk Insurance, male
AFA and Plan for Awards	2006	Winner – Term and TPD Insurance Award
AFA and Plan for Awards	2006	Finalist – Platinum Award
AFA and Plan for Awards	2006	Finalist – Income Protection Insurance Award
Asset Innovation Awards	2006	Winner – Trauma Insurance Product of the Year

OneCare offers flexible product structures

OneCare allows you to construct insurance packages in various ways. This flexibility means your insurances can be structured in line with your needs, objectives, budget and estate plans.

During our discussions, you stated that <cost efficiency/maximising coverage> was important to you.

<Option 1>

Income Secure Cover Trauma Cover TPD
Cover
Cover Your OneCare policy I recommend all your insurances are set up as stand-alone covers. This means that if you claim on one cover type other than death benefits, your other covers won’t be affected. This structure will provide you with the maximum coverage.

<Option 2>

I recommend that the Income Secure Cover and Trauma Cover are set up as stand-alone covers and the and TPD Covers are linked. This means that if you were paid on your Trauma Cover, your and TPD Cover will remain unaffected. However, if you were to be paid on the TPD Cover, the Cover will be reduced by the amount of the TPD Benefit paid.

<If you are paid the full TPD Benefits under your cover, you will be able to use the Cover Buy Back feature to restore your Cover in 12 months’ time.>

<If you are paid the TPD Benefits under your cover, you will be able to use the Double TPD Option immediately to restore your Cover. Under this option, you will never have to pay premiums for the restored cover.>

<Should you be paid your full Trauma Benefit under your cover, you will be able to use the Cover Purchase Option to purchase Cover up to the amount of the Trauma Benefit paid.> Not available under Severity Trauma

<You will also be able to use the Trauma Reinstatement Option to restore up to 100% of your Trauma Cover 6 or 12 months after you have been paid the full Trauma Cover amount, depending on the condition, covering you for conditions unrelated to the original cause of claim. > Not available under Severity Trauma

Your OneCare policy Income
Secure Cover Trauma
Cover
Cover TPD
Cover This structure provides you with the flexibility of holding Trauma Cover independently from your and TPD Cover. I have also provided you with a cost effective structure which links your Cover and TPD Cover.

<Option 3>

I recommend that your , TPD and Trauma Covers are linked. This structure provides you with comprehensive yet cost effective coverage. You need to be aware that if you are paid on the TPD or Trauma Cover, the remaining covers will be reduced by the amount of the benefit paid.

<If you are paid the full TPD or Trauma Benefits under your cover, you will be able to use the Cover Buy Back feature to restore your Cover in 6 or 12 months’ time, depending on the condition, covering you for conditions unrelated to the original cause of claim .> Not available under Severity Trauma

<With the Double TPD Option, if you are paid the full TPD Benefit under your cover, you will be able to immediately restore your cover. Under this option, you will never have to pay premiums for the restored cover.>

<With the Double Trauma Option, if you are paid the full Trauma Benefit under your cover, you will be able to immediately restore your Cover. Under this option, you will never have to pay premiums for the restored cover.> Not available under Severity Trauma

Income Secure Cover Cover TPD Cover Trauma Cover Your OneCare policy <You will also be able to use the Trauma Reinstatement Option to restore up to 100% of your Trauma Cover 6 or 12 months after you are paid the full Trauma Cover amount depending on the condition, covering you for conditions unrelated to the original cause of claim.> Not available under Severity Trauma

<Option 4>

I recommend that your , TPD and/or Trauma Covers are linked, with the TPD Cover split across a policy owned by the trustee of your superannuation fund, and another policy owned by you through a SuperLink arrangement. You need to be aware that if you claim on the TPD or Trauma Cover, the Cover, the linked TPD and/or Trauma Cover will be reduced by the amount of the benefit paid. I recommend the Cover be held under the super policy.

Structuring the TPD Cover like this allows access to an ‘Own Occupation’ TPD definition whilst receiving any tax concessions under a superannuation funding arrangement. This approach also reduces the risk of TPD Benefits being ‘trapped’ in the superannuation fund.

The TPD Cover is separated into two policies. One policy containing the ‘SuperLink SIS Any Occupation’ TPD definition is owned by the trustee of your superannuation fund, and the other with the ‘SuperLink SIS Own Occupation’ TPD definition is owned by you. When assessing a TPD claim, you are first assessed under the policy held by the trustee, with the other policy only being assessed if you do not satisfy the definition under the superannuation policy.

Structuring the Trauma Cover like this allows access to ‘linked’ rates instead of ‘stand- alone’ rates (which are generally higher) helping reduce the premium paid. The Trauma Cover is owned by you.

The OneCare policy held by the trustee of your superannuation fund includes a ‘SuperLink SIS Any Occupation’ TPD definition that is consistent with the Superannuation Industry (Supervision) Act (SIS) definition of ‘Permanent Incapacity’. This means you are likely to satisfy a condition of release under SIS and the trustee is able to pay you the benefit should you satisfy the TPD definition under this policy.

In the event you don’t satisfy the TPD definition under the policy held by the trustee, your claim will then be assessed under the policy held by you. Broadly, the TPD definition under this policy requires you to be unable to work again in your own occupation.

It’s important to note that in a SuperLink arrangement, the TPD Benefit is only ever payable once - either under the superannuation owned policy or the policy owned by you. Any benefit amount paid in respect of you under one policy will reduce the TPD amount insured under the other linked policy.

<If you claim TPD or Trauma Benefits under your cover, you will be able to use the Cover Buy Back feature to restore your Cover in 6 or 12 months’ time, depending on the condition, covering you for conditions unrelated to the original cause of claim.> Not available under Severity Trauma

<If you claim TPD or Trauma Benefits under your cover, you will be able to use the Double TPD Option and/or the Double Trauma Option immediately to restore your Cover. Under this option, you will never have to pay premiums for the restored cover.> Not available under Severity Trauma

<You will also be able to use the Trauma Reinstatement Option to restore up to 100% of your Trauma Cover 6 or 12 months after you have been paid the full Trauma Cover amount, depending on the condition, covering you for conditions unrelated to the original cause of claim.> Not available under Severity Trauma

This structure provides you with the flexibility of linking Trauma Cover, owned by you to your Cover and TPD Cover, owned by the trustee of your superannuation fund.

I also recommend you hold your Income Secure Cover through super..

Income Secure Protection Super TPD Cover
(SuperLink SIS Own Occupation) Trauma Cover Cover TPD Cover (SuperLink SIS Any Occupation) Your OneCare policy Your OneCare superannuation policy Complimentary Income Secure Protection Super (when Income Secure Protection Super is taken) The OneCare Super policy is held by the trustee of your superannuation fund and we pay your disability benefit under the super policy to the trustee in conditions that are consistent with the requirements of the Superannuation Industry (Supervision) Act (SIS).Because the policy is held under super, you will need to satisfy a condition of release under SIS. Under Income Secure Protection Super, if you are unemployed when illness or injury occurs, generally no benefit is payable to the trustee due to SIS limits. However, OneCare Income Secure Protection Super comes with Complimentary Income Secure Protection outside of super that provides you with cover during unemployment.

<Option 5>

I recommend that your , TPD and Trauma Covers are linked, with the TPD and Trauma Cover owned by you through a SuperLink arrangement. You need to be aware that if you claim on the TPD Cover, the Cover and the linked Trauma Cover will be reduced by the amount of the benefit paid. I recommend the Cover be held under the super policy.

Structuring the TPD and Trauma Covers like this allows access to ‘linked’ rates instead of ‘stand-alone’ rates (which are generally higher) helping reduce the premium paid.

<If you claim TPD or Trauma Benefits under your cover, you will be able to use the Cover Buy Back feature to restore your Cover in 6 or 12 months’ time, depending on the condition, covering you for conditions unrelated to the original cause of claim.> Not available under Severity Trauma

<If you claim TPD or Trauma Benefits under your cover, you will be able to use the Double TPD Option and/or the Double Trauma Option immediately to restore your Cover. Under this option, you will never have to pay premiums for the restored cover.> Not available under Severity Trauma

<You will also be able to use the Trauma Reinstatement Option to restore up to 100% of your Trauma Cover 6 or 12 months after you have been paid the full Trauma Cover amount, depending on the condition, covering you for conditions unrelated to the original cause of claim.> Not available under Severity Trauma

This structure provides you with the flexibility of linking TPD and Trauma Cover, owned by you to your Cover, owned by the trustee of your superannuation fund.

I also recommend you hold your Income Secure Cover through super..

The OneCare Super policy is held by the trustee of your superannuation fund and we pay your disability benefit under the super policy to the trustee in conditions that are consistent with the requirements of the Superannuation Industry (Supervision) Act (SIS). Because the policy is held under super, you will need to satisfy a condition of release under SIS.

Your OneCare superannuation policy TPD Cover Trauma Cover Cover Your OneCare policy Income Secure Protection Super Complimentary Income Secure Protection Super (when Income Secure Protection Super is taken) Under Income Secure Protection Super, if you are unemployed when illness or injury occurs, generally no benefit is payable to the trustee due to SIS limits. However, OneCare Income Secure Protection Super comes with Complimentary Income Secure Protection outside of super that provides you with cover during unemployment.

OneCare offers attractive discounts

OnePath is one of only a few insurers who offer premium discounts when they package all of their insurances. There are four key discounts OnePath can provide: size, multi-cover, multi-group and platform discounts.

Size discount - OnePath will apply a size discount of up to 32% for and TPD Cover, and up to 28% for Trauma Cover. In addition, you won’t miss out on a size discount if you choose to split your covers over separate policies or different ownership structures.

Multi-cover discount – Your , TPD, Trauma and/or Business Expense Cover will receive a 5% discount if Income Secure Cover is taken out on the same insured. OnePath was the first, and is still one of only a few insurers to offer a multi-cover discount.

Packaging discount (multi-lives) – OnePath’s group discount ranges from 5% to 10% and is based on the number of adult lives under either a single OneCare policy or a group of related OneCare policies. You can add family members or business associates to your group at any time, and as the number of people in the group increases, so does everyone’s discount.

Platform discount – OnePath will apply a platform discount of 10% based on policies that are issued to a trustee of an eligible platform which premiums are funded.

With the structure I have recommended, you will qualify to receive the <insert>, <insert> and <insert> discounts. You may be eligible to receive further discounts in the future if your insurance structure changes.

OnePath does not guarantee premium discounts and may remove or vary the current discounts under these terms.

OneCare offers flexible premium structures

OnePath offers the choice of two premium structures for , TPD and Trauma Cover: stepped and level. I recommend <stepped and/or level> premiums because <select appropriate option below>

<Stepped option>
this premium structure is the more economical for you at this point in time.

<Level option>
this premium structure will be more beneficial for you in the long run.

<Stepped and level option>

both premium structures will be economical for you at this point in time while beneficial for you in the long run.

Stepped premiums – The premiums are recalculated every year based on your age. Stepped premiums start lower and it’s most likely they will increase as you get older. Stepped premiums are available for all cover types.

Level premiums – The premiums will only increase if there are changes to the sums insured or the premium rates. Level premiums start higher but do not dramatically change over time. Level premiums are available for , TPD and Trauma Cover only.

Pay your OneCare Super premiums in a variety of ways

You can pay for your OneCare Super premiums in a variety of ways:

Employer or member contributions (monthly, half yearly and yearly payment frequency) – subject to legislated contribution rules and annual contribution caps.

Transfer from an eligible OneAnswer Personal Super and OneAnswer Frontier account (monthly, half yearly and yearly payment frequency).

Rollover from any eligible superannuation funds (yearly payment frequency only).

Regardless of whether stepped or level premium is selected, premiums rates and premium factors are not guaranteed or fixed and insurers have increased premium rates in the past and may increase in the future.

insurance

What is insurance?

insurance provides you with the peace of mind that your interests will be protected after you’re gone. And at a time when emotions are running high, insurance can help provide the people you leave behind with financial certainty.

How does insurance work?

With OneCare’s Cover you can select to have a lump sum or monthly instalment paid if you die or suffer from a terminal condition.

OneCare’s built-in benefits

<Instalments Benefit (Not available under superannuation)>

OnePath is one of the few insurers who is flexible enough to allow clients to receive all or some of their insurance benefits as instalments (monthly payments) instead of as a lump sum (one off payment).

<To help your beneficiaries manage such a large sum of money>, I recommend you set up the policy so that <insert %> of your benefits are received as instalments and payable for <insert a fixed term >. <The remaining <insert%> will be paid as a lump sum.>

Terminal Illness Benefit

When someone is diagnosed with a terminal illness, time is of the essence. Time to spend with family and friends, time to make final arrangements or time to go on an overseas trip or even time to seek alternative medical treatment. These can all be made easier with an advance insurance payment.

If you are diagnosed with a terminal illness, OnePath will pay the insurance benefit in advance.

<Advance Assistance Benefit (Not available under superannuation)>

Sometimes the assessment of an insurance claim can take several weeks. To make sure your dependants can take care of the immediate expenses associated with your death, such as funeral costs, OnePath will pay $25,000 of the Cover amount (or three times the monthly instalment amount, if applicable) on receipt of the death certificate while they continue to finalise the claim.

OnePath’s Advance Assistance Benefit is one of the highest in the market.

<Orphan Benefit (Not available under superannuation)>

If you and your spouse suffer an accidental death as a result of the same accident and you are survived by one or more dependent child, OnePath will pay an additional $10,000 benefit for each child (up to $30,000)

(This benefit is available when the cover has been in force for three years).

<Financial Advice Benefit (Not available under superannuation)>

If OnePath pays a insurance claim, they will reimburse up to $2,000 for the preparation of a financial plan. A financial plan can help your family maximise the value of your insurance benefit.

<Accommodation Benefit (Not available under superannuation)>

If you are diagnosed with a terminal illness and a medical practitioner certifies that you must remain confined to a bed, OnePath will pay up to $500 a day for up to 30 days so that your immediate family members can pay for accommodation closer to you if the family member needs to travel some distance to be with you.

OneCare’s built-in features

<Extended Terminal Medical Condition>

When someone is diagnosed with or has incurred an injury that leads to a terminal illness, time is of the essence. Time to spend with family and friends, time to make final arrangements or time to go on an overseas trip or even time to seek alternative medical treatment. The Extended terminal medical condition benefit pays the cover amount insured where expectancy is up to 24 months.

Serious Disability Premium Waiver

If your health declines you may find your ability to pay your Cover premiums increasingly difficult.
That’s why OnePath will waive your premiums on your Cover for up to two years if you are seriously disabled, meaning you will be able to retain this important cover.

This Premium Waiver feature is no extra cost and remains on the policy until the policy anniversary after you turn age 65.

Future Insurability

is full of exciting changes, and your needs and priorities now will probably change in the years to come.
So that your insurance can keep up with you, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months if you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school

complete an undergraduate university degree

become a carer

get divorced

have a spouse who dies

<have a change in tax dependency status as a result of ceasing to have any tax dependants as defined by current law (applies only if the cover is taken out under superannuation).>

<Because your policy is for business purposes, you can also increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

Future Insurability is broadly available for lives insured up to age 55 and with medical loadings up to 50%.

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or Consumer Price Index (CPI), whichever is greater.

Premium Freeze

Premium Freeze is a feature of your policy which provides you with the option of stopping your insurance premiums from increasing every year by gradually reducing your amount insured.

OneCare’s additional options

<Premium Waiver Disability Option>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your insurance premiums.

Therefore by including the Premium Waiver Disability Option, you will not need to worry about paying your insurance premiums; OnePath will waive your premiums whilst you continue to be disabled up until the policy anniversary when you are age 65.

<Business Guarantee Option>

As your business grows, it’s important your insurance cover grows with it. Therefore by including the Business Guarantee Option, you can increase the amount insured up to specific limits without having to supply further medical evidence if there has been an increase in the value of your business.

<Value Protector Option>

If you have set up the instalment benefit I recommend your insurance is set up with the Value Protector Option. This option will increase your instalment benefit payments by 3% per year while you are on claim helping to ensure your payments keep up with the cost of living.

Total and Permanent Disability (TPD) insurance

What is TPD insurance?

In the event that you can’t work in your current job or any other job again, TPD insurance can help make sure your long-term financial needs and goals are taken care of. The money can be used to pay your medical expenses, mortgages, personal debts and to make modifications to your home. The money may also enable your spouse to take time off work so that he/she can take care of you.

How does TPD insurance work?

OnePath’s TPD Cover will pay a lump sum or monthly instalment if you suffer from an illness or injury that leaves you totally and permanently disabled. OnePath will also pay you a partial amount of 25% of the TPD Cover amount (up to $500,000) if you suffer a specified loss e.g. after suffering a stroke, you lose the use of one arm.

OneCare’s built-in benefits

Choice of up to nine definitions

OnePath offers nine definitions of total and permanent disablement: Any Occupation, Super Any Occupation, Own Occupation, Business, Home-maker, Super Home-maker, Non-working, Super Non-working and SuperLink. Based on your circumstances I recommend the <insert> definition because <insert>.

Any Occupation – Under this definition OnePath will pay you if you suffer an illness or injury that means you won’t be able to work in any occupation again that you are reasonably suited to by education and experience. In assessing the suitability of an occupation, OnePath does not consider an occupation that generates earnings less than 25% of your previous earnings as suitable. A three month qualifying period applies.

OnePath will alternatively pay a benefit if you:

have been unable to work for three months and have suffered permanent impairment of 25% whole person function that means you won’t be able to work in any occupation again that you are reasonably suited to by education and experience

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye

are unable to perform two of the activities of daily living

suffer total and permanent disablement of intellectual capacity requiring care and supervision.

The Any Occupation definition provides comprehensive TPD protection.

Super Any Occupation – (Super only) – Under this definition OnePath releases the benefit to the trustee of your superannuation fund if you suffer an illness or injury that means you won’t be able to work in any occupation again that you are reasonably suited by education, training or experience. A three month qualifying period applies.

Own Occupation (Not available under superannuation) – Under this definition OnePath will pay you if you suffer an illness or injury that means you won’t be able to work in your current occupation again. A three month qualifying period applies.

OnePath will alternatively pay a benefit if you:

have suffered permanent impairment of 25% whole person function that means you won’t be able to work in your current occupation again

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye

are unable to perform two of the activities of daily living

suffer total and permanent disablement of intellectual capacity requiring care and.

The Own Occupation definition provides the maximum TPD protection available.

Business (not available under superannuation or a SuperLink arrangement) – Under Business TPD Definition One, OnePath will pay you if you are absent from and unable to work for nine consecutive months and at the end of that period, you’re disabled to such an extent that you’re unlikely ever again to be able to engage in your own occupation. A nine month qualifying period applies.

Only certain occupations are eligible for the Business TPD Definition One and certain restrictions and notification requirements apply if you change occupations or cease working prior to disability. Details can be found in the OneCare PDS.

If you have changed occupations and have not notified OnePath as required, or your occupation at the time of illness or injury does not qualify you for assessment under Business TPD Definition One, under Business TPD Definition Two OnePath will pay you if are absent from and unable to work for nine consecutive months and at the end of that period, you’re disabled to such an extent that you’re unlikely ever again to be able to engage in any occupation for which you’re suited by way of education, training or experience. Under Business TPD Definition Three OnePath will pay you if you suffer a ‘loss of limbs and/or sight’, suffer a loss of independent existence or suffer a cognitive loss.

OnePath will alternatively pay a benefit if you:

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye

are unable to perform two of the activities of daily living

suffer total and permanent deterioration or loss of intellectual capacity requiring care and supervision.

The Business TPD Cover provides those in certain white collar occupations with ‘top-up’ access to amounts over the maximum Any/Own Occupation. An overall maximum of $10 million TPD Cover applies.

Home-maker – Under this definition OnePath will pay you if you are unable to perform normal domestic duties. A three month qualifying period applies.

OnePath will alternatively pay a benefit if you:

have suffered permanent impairment of 25% whole person function that means you are unable to perform normal domestic duties

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye

are unable to perform two of the activities of daily living

suffer total and permanent disablement of intellectual capacity requiring care and supervision.

The Home-maker definition provides comprehensive coverage with maximum flexibility.

Super Home-maker – (Super only) - Under this definition OnePath releases the benefit to the trustee of your superannuation fund if as a result of illness or injury you are unable to perform normal domestic duties and after 3 months you are unlikely ever again to work in any occupation again that you are reasonably suited by education, training or experience. A three month qualifying period applies.

Non-working (Not available under a Trauma SuperLink arrangement) – Under this definition OnePath will pay a benefit if you:

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye

are totally and irreversibly unable to perform at least two of the activities of daily living

suffer total and permanent deterioration or loss of intellectual capacity requiring care and supervision.

The Non-working definition provides basic TPD protection at an affordable price.

Super Non-working - (Super only) - Under this definition OnePath releases the benefit to the trustee of your superannuation fund if as a result of illness or injury you:

suffer the loss of two limbs, the sight in both eyes or the loss of one limb and the sight in one eye, or

are totally and irreversibly unable to perform at least two of the activities of daily living, or

suffer total and permanent deterioration or loss of intellectual capacity requiring care and supervision, and

You are disabled to the extent that you are unlikely ever again to work in any occupation again that you are reasonably suited by education, training or experience. The Super Non-working definition provides basic TPD protection at an affordable price.

SuperLink – Under this arrangement your TPD Cover is issued as two separate policies, one with a ‘SuperLink SIS Any Occupation’ TPD definition under a policy held by the trustee of your superannuation fund and the other with a ‘SuperLink SIS Own Occupation’ TPD definition held outside superannuation. Whilst the TPD Cover within a SuperLink arrangement is issued as two separate policies, they will in effect operate as if the linked covers are provided under the one policy, which means that a claim on one cover will reduce the cover on the other policy.

A summary of the two definitions are as follows:

SuperLink SIS Any Occupation – your disability will be assessed against your ability to perform any occupation you are reasonably suited to by education, training or experience. This is the policy held by the trustee of your superannuation fund.

SuperLink SIS Own Occupation – your disability will be assessed against your ability to perform the recent occupation you are working in at the time of disability. This is the linked non-superannuation policy.

You would only be assessed against the SuperLink SIS Own Occupation TPD definition if benefits were not payable based on the SuperLink SIS Any Occupation TPD definition.

The SuperLink arrangement provides one of the most comprehensive TPD Cover with an affordable structure.

<Instalments Benefit (Not available under superannuation)>

OnePath is one only a few insurers who is flexible enough to allow clients to receive all or some of their TPD Benefits as instalments (monthly payments) instead of as a lump sum (one off payment).

<To help you manage the TPD Benefit>, I recommend you set up the policy so that <insert %> of your benefits are received as instalments and payable for <insert a fixed term or insert >.
<The remaining <insert %> will be paid as a lump sum.>

<Limited Death Benefit (Stand Alone TPD Cover)>

If you die, OnePath will pay your beneficiaries $10,000 so that they can make sure immediate expenses such as funeral costs can be taken care of.

<Accommodation Benefit (Not available under superannuation)>

If your medical practitioner certifies that you must remain confined to a bed, OnePath will pay up to $500 a day for up to 30 days so that your immediate family members can pay for accommodation closer to you if the family member needs to travel some distance to be with you.

OnePath ’s Accommodation Benefit is among the highest in the market.

<Financial Advice Benefit (Not available under superannuation)>

If OnePath pays a insurance claim, they will reimburse up to $2,000 for the preparation of a financial plan.

<Spouse Retraining Benefit (Not available under superannuation)>

If you become totally and permanently disabled, OnePath will reimburse up to $10,000 for your spouse’s training or retraining expenses to help them gain employment or enable them to improve the quality of care for you.

(This benefit is available when the cover has been in force for three years).

OneCare’s built-in features

Future Insurability

is full of exciting changes, and your needs and priorities now will probably change in the years to come.
So that your insurance can keep up with you, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months when you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school (OnePath is one of only a few insurers that includes this event)

complete an undergraduate university degree

become a carer (OnePath is one of only a few insurers that includes this event)

get divorced

have a spouse who dies

<have a change in tax dependency status as a result of ceasing to have any tax dependants as defined by current law (applies only if the cover is taken out under superannuation).>

<Because your policy is for business purposes, you can increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

Future Insurability is broadly available for lives insured up to age 55 and with medical loadings up to 50%.

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or CPI, whichever is greater.

Premium Freeze

Premium Freeze is a feature of your policy which provides you with the option of stopping your TPD insurance premiums from increasing every year by gradually reducing your amount insured.

< Cover Buy Back (TPD Cover taken with Life Cover) (Not available to Business TPD)>

This feature allows you to purchase the same level of Life Cover as the amount of the TPD Benefit paid without having to supply any medical evidence, 12 months after you are paid the full TPD Cover amount. The 12 month buy back period commences from the later of when the complete claim form is submitted or the date you satisfied the conditions of the TPD definition.

Auto Conversion

Rather than let your TPD Cover lapse at its expiry, OnePath will automatically convert your TPD definition to a <Non-working/Super Non-working> definition at policy anniversary when you are aged 65. TPD Cover with a Non-working definition provides basic coverage at an affordable price. If you are in a white collar occupation when you turn age 65, you may apply to OnePath to continue your TPD Cover occupation definition (Any or Own) until to age 70, prior to the conversion to a Non-working definition.

OneCare’s additional options

<Business Guarantee Option (Not available to Business TPD)>

As your business grows, it’s important your insurance cover grows with it. Therefore by including the Business Guarantee Option, you can increase the amount insured without having to supply further medical evidence if there has been an increase in the value of your business.

<Double TPD Option (TPD Cover taken with Life Cover) (Not available to Business TPD)>

A TPD claim on your policy will reduce your Life Cover by the amount of the TPD Benefit paid. The inclusion of the Double TPD Option ensures that immediately following a full TPD payment your Life Cover is reinstated to its original level. You will never have to pay any premiums for the reinstated Life Cover. This option can be exercised up to age 65.

< Cover Purchase Option (Stand-alone TPD Cover) (Not available to Business TPD)>

By including the Life Cover Purchase Option on your policy, you are able to purchase insurance cover equivalent to the value of the TPD Benefit paid, 12 months after the claim without having to supply any medical evidence. The 12 month buy back period commences after the later of when the complete claim form is submitted or the date you satisfied the conditions of the TPD definition.

<Premium Waiver Disability Option>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your life insurance premiums.

Therefore by including the Premium Waiver Disability Option, you will not need to worry about paying your life insurance premiums while you are on claim under Income Secure, Business Expense or Living Expense. OnePath will waive your premiums whilst you continue to be disabled up until the policy anniversary when you are age 65.

<Value Protector Option>

If you have set up the instalment benefit I recommend your insurance is set up with the Value Protector Option. This option will increase your instalment benefit payments by 3% per year, helping to ensure your payments keep up with the cost of living.

Trauma insurance (not available under superannuation)

What is trauma insurance?

In the event you suffer a serious illness or injury like cancer, heart attack or paralysis, trauma insurance provides you with choices. The money could be used to pay your medical expenses and treatment costs and in some instances provide you with style choices. You could use it to pay off your debts, go on a holiday, or even to make a permanent style change such as reduced working hours. The money may also enable your spouse to take time off work so that they can take care of you or support you while you receive treatment.

How does trauma insurance work?

OnePath ’s Trauma Cover will pay a lump sum or monthly instalment if you suffer from a listed condition such as heart attack, coronary artery by-pass surgery, cancer or stroke. Although, under Severity Trauma, OnePath will pay based on the severity of the condition.

OneCare’s built-in benefits

Choice of three cover types

OnePath offers three trauma insurance covers: Severity Trauma, Trauma Comprehensive and Trauma Premier.

<Option1> <I recommend Severity Trauma because it provides you with the essential Trauma Cover based on the severity of the condition and is more economical.>

<Option2> <I recommend Trauma Comprehensive because it provides you with appropriate Trauma Cover.>

<Option3> <I recommend Trauma Premier because in addition to covering a comprehensive range of trauma conditions, it also provides you with the added benefit of partial trauma payments.>

Severity Trauma – this cover type provides protection based on the severity of the trauma condition. The amount OnePath pay for the trauma condition is based on the following three tiers:

21 tier one trauma conditions pay 10% of the amount insured, subject to a maximum of $50,000 across all Severity Trauma policies held in respect of the life insured and a minimum of $10,000. However, angioplasty and heart surgery (minor) are subject to a maximum of $20,000 across all Severity Trauma policies held in respect of the life insured.

17 tier two trauma conditions pay 50% of the amount insured.

33 tier three pay 100% of the amount insured.

There are a number of trauma conditions that OnePath will treat as a progression of a prior claim and will pay based on the remaining amount insured.

The tier one conditions covered are outlined in the table below.

Alzheimer’s disease (diagnosed)	Deafness (permanent in one ear)	Motor neurone disease (diagnosed)
Angioplasty – single or double vessel	Dementia (diagnosed)	Multiple sclerosis (diagnosed)
Benign tumour (diagnosed)	Diabetes mellitus – adult, insulin dependent diagnosed after age 30	Muscular dystrophy (diagnosed)
Blindness (permanent of specified severity)	Heart attack (diagnosed)	Osteoporosis (before age 50)
Cardiac arrest (out of hospital)	Heart surgery (less invasive)	Parkinson’s disease (diagnosed)
Cardiomyopathy (diagnosed)	Invasive cancer (early stage)	Pre-invasive or in-situ cancer (of limited sites)
Critical care (requiring intubation)	Leukaemia, lymphoma and blood related cancers (early stage)	Stroke (diagnosed)

The tier two conditions covered are outlined in the table below.

Angioplasty – triple vessel	Coronary artery by-pass surgery	Intensive care (prolonged)
Aortic surgery	Heart attack – permanent LVEF less than 50%	Invasive cancer (of stage 2)
Burns (of limited extent)	Heart value surgery	Leukaemia, lymphoma and blood related cancers (of stage 2)
Cardiomyopathy – permanent LVEF less than 50%	Hydrocephalus (requiring surgical intervention)	Open heart surgery
Colostomy and/or ileostomy	HIV (medically acquired)	Stroke (residual impairment)
Coma (of specified severity)	HIV (occupationally acquired)

The tier three conditions covered are outlined in the table below.

Aplastic anaemia (requiring treatment)	Heart attack – permanent LVEF less than 40%	Motor neurone disease (permanent impairment)
Benign brain tumour (permanent impairment or requiring surgical intervention)	Inflammatory bowel disease	Multiple sclerosis (permanent impairment)
Benign spinal tumour (permanent impairment or requiring surgical intervention)	Invasive cancer (of stage 3 or 4)	Muscular dystrophy (permanent impairment)
Blindness (permanent in both eyes)	Kidney failure (end stage)	Organ transplant (major)
Burns (severe)	Leukaemia, lymphoma and blood related cancers (of stage 3 or 4)	Parkinson’s disease (permanent impairment)
Cardiomyopathy – permanent LVEF less than 40%	Liver disease (end stage)	Pneumonectomy
Cognitive loss (permanent)	Loss of independent existence (permanent)	Primary pulmonary hypertension (Idiopathic Pulmonary Arterial Hypertension with permanent impairment)
Deafness (permanent in both ears)	Loss or paralysis of limb (permanent)	Rheumatoid arthritis (severe)
Diabetes (severe)	Loss of speech (permanent)	Stroke (severe impairment)
Encephalitis (permanent and irreversible)	Lung disease (end stage)	Systemic sclerosis (permanent and irreversible)
Head trauma (permanent and irreversible)	Meningitis and/or meningococcal disease (permanent and irreversible)	Terminal illness

Trauma Comprehensive – this cover type provides protection for 46 specified trauma conditions. With the exception of angioplasty and heart surgery (minor), all of these conditions result in a full payment of your Trauma Cover.

OnePath ’s list of covered conditions is among the most comprehensive in the market.

The conditions covered are outlined in the table below.

Alzheimer’s disease (diagnosed)	Encephalitis (permanent and irreversible)	Muscular dystrophy (diagnosed)
Angioplasty – single or double vessel (partial payment)	Heart attack (diagnosed)	Open heart surgery
Angioplasty – triple vessel	Heart surgery (less invasive) (partial payment)	Organ transplant (major)
Aortic surgery	Head trauma (permanent and irreversible)	Osteoporosis (before age 50)
Aplastic anaemia (requiring treatment)	Heart value surgery	Parkinson’s disease (diagnosed)
Blindness (permanent in both eyes)	HIV (medically acquired)	Pneumonectomy
Benign brain tumour (permanent impairment or requiring surgical intervention)	HIV (occupationally acquired)	Primary pulmonary hypertension (Idiopathic Pulmonary Arterial Hypertension with permanent impairment)
Burns (severe)	Intensive care (prolonged)	Rheumatoid arthritis (severe)
Cancer (excluding less advanced cases)	Kidney failure (end stage)	Benign spinal tumour (permanent impairment or requiring surgical intervention)
Cardiac arrest (out of hospital)	Liver disease (end stage)	Stroke (diagnosed)
Cardiomyopathy (permanent and irreversible)	Loss of independent existence (permanent)	Systemic sclerosis (permanent and irreversible)
Cognitive loss (permanent)	Loss or paralysis of limb (permanent)	Terminal illness
Coma (of specified severity)	Loss of speech (permanent)
Coronary artery by-pass surgery	Lung disease (end stage)
Deafness (permanent in both ears)	Meningitis and/or meningococcal disease (permanent and irreversible)
Dementia (diagnosed)	Motor neurone disease (diagnosed)
Diabetes (severe)	Multiple sclerosis (diagnosed)

Trauma Premier – This cover type provides cover for all 46 specified trauma conditions under Trauma Comprehensive. With the exception of angioplasty and heart surgery (minor), all of the conditions under Trauma Comprehensive result in a full payment of your Trauma Cover. OnePath ’s list of covered conditions is among the most comprehensive in the market.

Trauma Premier also provides partial cover for an additional 14 specified trauma conditions. OnePath was the first to introduce partial payments, and they are still one of the only companies to cover several conditions.

The partial payment amount is subject to a minimum of $10,000 and is based on the lesser of:

20% of the Trauma Cover amount insured (10% for angioplasty or heart surgery (minor))

$100,000 (or $20,000 for angioplasty or heart surgery (minor)).

The tables below highlight the full payment and partial payment conditions covered. Full details can be found in OnePath ’s OneCare PDS.

Trauma Premier full payment conditions:

Alzheimer’s disease (diagnosed)	Encephalitis (permanent and irreversible)	Muscular dystrophy (diagnosed)
Angioplasty – single or double vessel (partial payment)	Heart attack (diagnosed)	Open heart surgery
Angioplasty – triple vessel	Heart surgery (less invasive) (partial payment)	Organ transplant (major)
Aortic surgery	Head trauma (permanent and irreversible)	Osteoporosis (before age 50)
Aplastic anaemia (requiring treatment)	Heart value surgery	Parkinson’s disease (diagnosed)
Blindness (permanent in both eyes)	HIV (medically acquired)	Pneumonectomy
Benign brain tumour (permanent impairment or requiring surgical intervention)	HIV (occupationally acquired)	Primary pulmonary hypertension (Idiopathic Pulmonary Arterial Hypertension with permanent impairment)
Burns (severe)	Intensive care (prolonged)	Rheumatoid arthritis (severe)
Cancer (excluding less advanced cases)	Kidney failure (end stage)	Benign spinal tumour (permanent impairment or requiring surgical intervention)
Cardiac arrest (out of hospital)	Liver disease (end stage)	Stroke (diagnosed)
Cardiomyopathy (permanent and irreversible)	Loss of independent existence (permanent)	Systemic sclerosis (permanent and irreversible)
Cognitive loss (permanent)	Loss or paralysis of limb (permanent)	Terminal illness
Coma (of specified severity)	Loss of speech (permanent)
Coronary artery by-pass surgery	Lung disease (end stage)
Deafness (permanent in both ears)	Meningitis and/or meningococcal disease (permanent and irreversible)
Dementia (diagnosed)	Motor neurone disease (diagnosed)
Diabetes (severe)	Multiple sclerosis (diagnosed)

Additional Trauma Premier partial payment conditions:

Benign tumour (diagnosed)	Critical care (requiring intubation)
Blindness (permanent of specified severity)	Deafness (permanent in one ear)
Brain surgery (of pituitary gland)	Diabetes mellitus – adult, insulin dependent diagnosed after age 30
Burns (of limited extent)	Endometriosis (severe requiring surgical intervention)
Carcinoma in situ (of limited sites)	Hydrocephalus (requiring surgical intervention)
Chronic lymphocytic leukaemia (diagnosed)	Melanoma (early stage)
Colostomy and/or ileostomy	Systemic lupus erythematosus (SLE) with lupus nephritis of specified severity (diagnosed)

SuperLink Trauma

Under this arrangement your Trauma Cover can be linked to cover held through superannuation. Your Trauma cover that is held outside superannuation and is owned by you can be linked to and/or TPD cover held inside super that is owned by a Trustee of a Superannuation Fund.

Limited Death Benefit

If you die, OnePath will pay your beneficiaries $10,000 so that they can make sure immediate expenses such as funeral costs can be taken care of.

Financial Advice Benefit

If OnePath pays a insurance claim, they will reimburse up to $2,000 for the preparation of a financial plan. OnePath ’s Financial Advice Benefit is among the highest in the market.

Accommodation Benefit

If your medical practitioner certifies that you must remain confined to a bed, OnePath will pay up to $500 a day for a maximum of 30 days so that your immediate family members can pay for accommodation closer to you if the family member needs to travel some distance to be with you.

OnePath ’s Accommodation Benefit is among the highest in the market.

OneCare’s built-in features

Future Insurability

is full of exciting changes, and your needs and priorities now will probably change in the years to come. So that your insurance can keep up with you, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months when you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school

complete an undergraduate university degree

become a carer

get divorced

have a spouse who dies

<Because your policy is for business purposes, you can increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

Future Insurability is broadly available for lives insured up to age 55 and with medical loadings up to 50%.

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or CPI, whichever is greater.

OnePath ’s indexation minimum is among the highest in the market.

Premium Freeze

Premium Freeze is a feature of your policy which provides you with the option of stopping your TPD insurance premiums from increasing every year by gradually reducing your amount insured. I have illustrated how this could work in the table below.

Year	Monthly premium	Cover level
Year 1	$<insert>	$<insert>
Year 2	$<insert>	$<insert>
Year 3	$<insert>	$<insert>

< Cover Buy Back (Trauma Comprehensive or Premier Cover taken with Life Cover)>

By including the Life Cover Purchase Option on your policy, you are able to purchase insurance cover equivalent to the value of the Trauma Benefit paid, 12 months after the claim without having to supply any medical evidence.

<Pregnancy Premium Waiver (only available to Severity Trauma)>

Having a family is a very important time in your life. It’s also a time where you may decide to reduce your working hours or reprioritise your spending. If you are pregnant, this feature will waive your premiums under Severity Trauma Cover for up to a maximum of six months.

OneCare’s additional options

<Business guarantee option (only available to Comprehensive and Premier)>

As your business grows, it’s important your insurance cover grows with it. Therefore, by including the business guarantee option, you can increase the amount insured without having to supply further medical evidence if there has been an increase in the value of your business.

<Double Trauma Option (only available to Trauma Comprehensive and Premier Cover taken with Life Cover)>

A trauma claim on your policy will reduce your Life Cover by the amount of the Trauma Benefit paid. The inclusion of the Double Trauma Option ensures that immediately following a full trauma payment your Life Cover is reinstated to its original level. You will never have to pay any premiums for the reinstated Life Cover. This option can be exercised up to the policy anniversary after you turn age 65.

< Cover Purchase Option (only available to Stand-alone Trauma Comprehensive and Premier Cover)>

By including the Life Cover Purchase Option on your policy, you are able to purchase life insurance cover equivalent to the value of the Trauma Benefit paid. OnePath will offer Life Cover Purchase Option 12 months* after the later of the date they received your completed claim form or the date you satisfied any of the listed trauma conditions.

* Or six months if you had claimed for Alzheimer’s disease, blindness, deafness, dementia, loss or paralysis of limb, multiple sclerosis and Parkinson’s disease.

<Premium Waiver Disability Option (only available to Comprehensive and Premier)>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your trauma premiums.

Therefore, by including the Premium Waiver Disability Option, you will not need to worry about paying your trauma premiums; OnePath will waive your premiums until you come off claim up to age 65.

<Value Protector Option (only available to Trauma Comprehensive)>

If you have set up the instalment benefit, I recommend your insurance is set up with the Value Protector Option. This option will increase your instalment benefit payments by 3% per year, helping to ensure your payments keep up with the cost of living.

<Trauma Cover Reinstatement Option (only available to Comprehensive and Premier)>

The Trauma Cover Reinstatement Option allows you, 12 months* after the later of receiving your completed claim form or satisfying the condition of the trauma event definition, to reinstate your cover without having to supply medical evidence. You will however be unable to claim again for the same or any related condition.

If you have linked TPD cover and make a claim which causes Total and Permanent Disability and that event is a defined trauma condition your trauma cover can also be reinstated.

*Or six months if you had claimed for Alzheimer’s disease, blindness, deafness, dementia, loss or paralysis of limb, multiple sclerosis and Parkinson’s disease.

<Premier Maximiser Option (only available to Premier)>

The Premier Maximiser Option provides ultimate protection by doubling the Partial Benefit paid on all 15 trauma conditions. This means you would receive up to 40% of the Trauma Cover amount insured (for a partial payment of up to $200,000), except for angioplasty which is up to 20% of the Trauma Cover amount insured (for a partial payment of up to $40,000).

Income protection insurance

What is income protection insurance?

Income protection insurance enables you to keep up with your everyday living expenses if you are unable to work because of illness or injury. The monthly payment allows you to concentrate on your recovery and not on how you will pay the next bill.

How does income protection insurance work?

OnePath ’s Income Secure Cover will pay up to 70% of your income as a monthly benefit if you’re unable to work because of illness or injury.

OneCare’s built-in benefits

Flexible waiting and benefit periods

OnePath offers a range of waiting benefit period options. You can change your waiting period and benefit periods at any time, but you may have to provide medical evidence.

Waiting period - The waiting period is the period you must wait to receive benefits. The waiting period options available include:

30 days

60 days

90 days

2 years.

The waiting period chosen will affect the premium i.e. the longer the waiting period the lower the premium.

You told me that in the event of you being unable to work as a result of ill health, you would resort to your <savings, leave entitlements, line of credit, credit card>. You agreed that you would only be able to self–sustain for a limited period. On this basis, I recommend a <insert> waiting period.

Benefit period - The benefit period is the period of time you will receive benefits. The benefit period starts at the end of the waiting period. The benefit period options available include:

2 years

6 years

<to age 65 (Not available on Occupation category R Cover)>

The benefit period chosen will affect the premium i.e. the shorter the benefit period the lower the premium.
I recommend a <insert> benefit period based on your age, current savings and leave entitlements.

Choice of two types of income protection cover

OnePath offers two different income protection cover: Income Secure Protection and Income Secure Protection Super. I recommend Income Secure <insert> because <insert>.

Income Secure Protection Super – This cover type is specifically designed for people who wish to hold their cover through superannuation.

Income Secure Protection – This cover type provides income protection for all occupation categories for policies held outside super.

Benefit payment type

OnePath offers an Indemnity benefit payment type.

Indemnity benefit payment type – With this benefit payment type, the monthly amount insured payable will depend on your income at the time of claim and the monthly amount insured.

You will need to provide OnePath with financial evidence at claim time to help OnePath determine your pre-claim earnings.

Total and Partial Disability Benefits

You will receive Total Disability Benefits if you are unable to work due to an illness or injury that prevents you from working and performing each and every important income producing duty from your primary occupation for the first two years, and after the two years, from any gainful occupation suited by your education, training or experience. You must be following the advice of a medical practitioner and actively participate in any reasonable rehabilitation program.

If you are not eligible for Total Disability Benefits, you may still be eligible for Partial Disability Benefits if your capacity to work is affected due to illness or injury.

To be eligible to receive either of the Total Disability or Partial Disability Benefits, you must have been:

following the advice of a medical practitioner;

totally disabled for at least 7 out of 12 consecutive days during the waiting period

disabled for the remainder of the waiting period;

<for OneCare Super: ceased to be gainfully employed, or ceased for at least one day to receive gain or reward under a continuing arrangement to be gainfully employed, as a result of the illness or injury;> and

continuously disabled since the end of the waiting period.

Additionally, to be eligible to receive a Partial Disability Benefit, at the end of the waiting period you must also have monthly income which is at least 15% less than your pre-claim earnings.

Basic Death Benefit

If you die whilst on claim, OnePath will pay your beneficiaries three times the monthly amount insured (up to $30,000), so that they can make sure immediate expenses such as funeral costs can be taken care of. OnePath will also pay the benefit if you are diagnosed with a terminal illness. OnePath ’s Limited Death Benefit is among the highest in the market.

<Rehabilitation and Retraining Expenses Benefit (only available to Income Secure Protection)>

To help you get back to work, OnePath will pay the costs associated with any agreed rehabilitation programs or retraining you complete. OnePath will pay up to 12 times the monthly amount insured.

OnePath will pay directly to the provider who provided the rehabilitation program.

OneCare’s built-in features

Conversion to Living Expense Cover

Rather than let your income protection lapse, OnePath will allow you to convert it to a Living Expense Cover policy without any underwriting. Living Expense Cover provides basic coverage at an affordable price.

The Living Expense policy will have a two year benefit period and will expire at age 80. The monthly amount insured converted will be the lesser of the then current:

Income Secure Cover monthly amount insured

maximum monthly amount insured allowable for Living Expense Cover.

OnePath is the only insurer to offer Living Expense Cover and the income protection conversion option.

<Conversion to Non-Super Cover (only available to Income Secure Protection Super)>

Rather than let your income protection lapse through super, OnePath will allow you to convert your income protection held through super to Income Secure Protection held outside super. If your cover through super cease because you cease to be a member of your fund, OnePath will offer Income Secure Protection without any underwriting.

Family Cover Pause

Having a family is a very important time in your life. It’s also a time where you and/or your partner may decide to reduce your working hours or reprioritise your spending. If you have a child, this feature allows you to decrease your monthly benefit and hence your premium until your youngest child turns six. You can then reinstate your original cover without medical underwriting.

Increasing Income

is full of exciting changes, and your needs and priorities will probably change in the years to come.

So that your insurance can keep up with you, OnePath will allow you to increase your monthly amount insured at each policy anniversary, under Increasing Income, without having to supply medical evidence by up to 15% of the monthly amount insured. You will only be required to provide OnePath with evidence your income has increased.

Increasing Income is available for lives insured who are under age 50 at the cover start date and with medical loadings up to 50%. You can increase cover under this option up until age 55.

Indexation (while not on claim)

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by the indexation factor, which is based on the change in the CPI each year.

Pregnancy Premium Waiver

Having a family is a very important time in your life. It’s also a time where you may decide to reduce your working hours or reprioritise your spending. If you or your spouse are pregnant, this feature will waive your premiums for up to a maximum of three months.

Premium and Cover Suspension

Allows you to suspend premiums and cover if you’re unemployed on sabbatical, maternity, paternity or long term leave from work or experiencing financial hardship.

Waiting Period Conversion Option

Because you already have a Group Salary Continuance (GSC) policy with a two year benefit period, I have recommended that you have a two year waiting period on your OneCare Income Secure policy. This provides you with a considerable premium saving.

And with this option, should you ever lose or cancel your GSC policy, OnePath allows you to convert the waiting period back to 90 days without underwriting.

Waiver of Premiums

If you are on an Income Secure claim, you will not have to pay premiums on your Income Secure Cover.

OneCare’s additional options

<Day 14 Accident Option (only available to 30 day waiting periods except occupation R)>

It’s a fact of , accidents do happen. The Accident Option provides that if you become totally disabled for at least 14 consecutive days during the waiting period as a result of an accident, OnePath will waive the waiting period and pay you for each day you are totally disabled.

<Indexation (while on claim) Option>

The Indexation (while on claim) Option ensures that the monthly amount insured payable increases annually while you are on claim by the indexation factor.

This is an invaluable option, especially if you suffer an illness or injury that prevents you from working for an extended period of time.

<Severity Booster Option>

The Severity Booster Option means that if you suffer one of a specified list of trauma conditions, you will receive an additional 20% of your monthly benefit payable for up to 6 months.

If you are hospitalised for at least 10 consecutive days for an illness or injury during the waiting period, and disabled after the waiting period ends, you will receive an additional 20% of your monthly benefit payable for a month. However, if you remain in hospital after the first month on claim, you will receive an additional 20% of your monthly benefit payable for each day you remain in hospital for up to 5 months.

Living Expense insurance (not available under superannuation)

What is Living Expense insurance?

Living Expense insurance recognises the value of what you do every day, even if you’re not working, or 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.

How does Living Expense insurance work?

OnePath ’s Living Expense Cover pays a benefit up to $5,000 a month if you’re significantly disabled and needing personal assistance from another person with your daily activities while you recover.

OneCare’s built-in benefits

Flexible waiting and benefit periods

OnePath offers a range of waiting period options. You can change your waiting period and benefit periods at any time, but you may have to provide medical evidence.

Waiting period - The waiting period is the period you must wait to receive benefits. The waiting period options available include:

30 days

90 days

1 year

2 years.

The waiting period chosen will affect the premium i.e. the longer the waiting period the lower the premium.

You told me that in the event of <you being unable to work, needing to hire home help> as a result of ill health, you would resort to your <savings, leave entitlements, line of credit, credit card>. You agreed that you would only be able to self–sustain for a limited period. On this basis, I recommend a <insert> waiting period.

Benefit period - The benefit period is the period of time you will receive benefits. The benefit period starts at the end of the waiting period. The benefit period options available include:

2 years

to age 65

to age 80.

The benefit period chosen will affect the premium i.e. the shorter the benefit period the lower the premium.
I recommend a <insert> benefit period based on your age and current savings.

Payment type

If you have to claim, the monthly benefit amount will be the amount agreed at the time of application regardless of any future reduction of your household income.

To secure this benefit type, you simply need to provide OnePath with evidence of the household income supporting the monthly benefit amount at application time.

Living Expense Benefit

If you are significantly disabled due to illness or injury, OnePath will pay the Living Expense Benefit after the completion of the waiting period.

<To be eligible to receive the benefit, you must have been:

significantly disabled during the waiting period; and

continuously significantly disabled since the end of the waiting period.>

Specific Injury Benefit

If you suffer a listed specific injury, OnePath will pay the monthly amount insured for a specified period of time regardless of whether you are significantly disabled or need ongoing medical treatment.

Specific injuries include paralysis or loss of two or more limbs, or loss of sight in both eyes.

Basic Death Benefit

If you die, OnePath will pay your beneficiaries three times the monthly amount insured, so that they can make sure immediate expenses such as funeral costs can be taken care of. OnePath will also pay the benefit if you are diagnosed with a terminal illness.

OneCare’s built-in features

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by the indexation factor, which is based on the change in the CPI each year while you are not on claim.

Waiver of Premiums

If you are on a Living Expense claim, you will not have to pay premiums on your Living Expense Cover.

Business Expense insurance (not available under superannuation)

What is Business Expense insurance?

Business Expense insurance recognises how important you are to your business, and how important your business is to your style.

How does Business Expense insurance work?

OnePath ’s Business Expense Cover pays a monthly benefit to cover your fixed business expenses if you’re totally or partially disabled. This money can help you stay on top of your business debts, keep your employees paid, and generally give you some breathing space until you return to work.

OneCare’s built-in benefits

Flexible waiting periods

OnePath offers a range of waiting period options. You can change your waiting period and benefit periods at any time, but you may have to provide medical evidence.

Waiting period - The waiting period is the period you must wait to receive benefits. The waiting period options available include:

30 days

60 days

90 days.

The waiting period chosen will affect the premium i.e. the longer the waiting period the lower the premium.

You told me that in the event of you being unable to work as a result of ill health, you would resort to your <savings, leave entitlements, line of credit, credit card>. You agreed that you would only be able to self–sustain for a limited period. On this basis, I recommend a <insert> waiting period.

A 12 month benefit period

The benefit period is the period of time you will receive benefits. The 12 month benefit period starts at the end of the waiting period.

Benefit payment type

OnePath offers an Indemnity benefit payment type.

Indemnity benefit payment type – With this benefit payment type, the monthly amount insured payable will depend on your expenses at the time of claim and the monthly amount insured. By selecting this benefit payment type you will receive a premium discount.

You will need to provide OnePath with financial evidence at claim time to help OnePath determine your pre-claim expenses.

Total and Partial Disability Benefits

OnePath appreciates that even when you can only work four out of five days a week, the financial impact can still be devastating. That’s why they offer Total and Partial Disability Benefits.

<To be eligible to receive either of these benefits, you must have been:

totally disabled for at least <7 out of 12 consecutive days during the waiting period> <(or if the occupation category is H (heavy trade) or HH (heavy duty)) 30 consecutive days during the waiting period>

either totally or partially disabled for the remainder of the waiting period; and

continuously disabled since the end of the waiting period.>

Death Benefit (while on claim)

If you die whilst on claim, OnePath will pay your beneficiaries three times the monthly amount insured (up to $60,000), so that they can make sure immediate expenses such as funeral costs can be taken care of. OnePath will also pay the benefit if you are diagnosed with a terminal illness.

OnePath ’s Limited Death Benefit is among the highest in the market.

Premium Break

OnePath appreciates that circumstances change and has developed the Premium Break feature. Should you sell or cease to own or operate the business for which this cover is insuring, you can apply to pause your premiums for up to 12 months with the option to recommence cover at the end of the 12 month period.

There is no cover and no benefit payable whilst premiums are being paused.

OneCare’s built-in features

Indexation (while not on claim)

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by the indexation factor, which is based on the change in the CPI each year.

Increasing Expense

The needs and priorities of your business are sure to change in the years to come.

So that your insurance can keep up with your business, OnePath will allow you to increase your monthly amount insured at each policy anniversary, under the Increasing Expense feature, without having to supply medical evidence by 15% of the monthly amount insured. You will only be required to provide OnePath with evidence to support the increase.

Increasing Expense is broadly available for lives insured who are under age 50 at the cover start date and with medical loadings up to 50%. You can increase cover under this option up until age 55.

Waiver of Premiums

If you are on a Business Expense claim, you will not have to pay premiums on your Business Expense Cover.

OneCare’s additional options

<Day 14 Accident Option>

It’s a fact of , accidents do happen. The Accident Option provides that if you become totally disabled as a result of an injury for at least 14 consecutive days during the waiting period as a result of an accident, OnePath will waive the waiting period and pay you for each day you are totally disabled.

Extra Care – Extended Needle Stick Cover (not available under super)

What is Extended Needle Stick Cover?

As an addition to any OneCare policy, medical professionals are eligible to apply for Extra Care Extended Needle Stick Cover. In the event you accidentally acquire Hepatitis B or C, or HIV at work, Needle Stick Cover provides you with choices. The money could be used to pay your medical expenses and treatment costs and provide you with style choices.

How does Extended Needle Stick Cover work?

The benefit is a lump sum of up to $1 million in the event that you contract Hepatitis B or C, or HIV through accidental injury with a needle stick or other sharp instrument used at work or inhalation or splashes. This
top-up cover is a low cost addition to a portfolio of cover with OneCare.

OneCare’s built-in features

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or CPI, whichever is greater.

Future Insurability

is full of exciting changes, and your needs and priorities will probably change in the years to come. So that your insurance can keep up with your changing responsibilities, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months if you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school

complete an undergraduate university degree

become a carer

get divorced

have a spouse who dies

<Because your policy is for business purposes, you can also increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

OneCare’s additional options

<Premium Waiver Disability Option>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your Needle Stick Cover premiums.

Therefore by including the Premium Waiver Disability Option, you will not need to worry about paying your Needle Stick Cover premiums; OnePath will waive your premiums whilst you continue to be disabled up until age 65.

Extra Care – Accidental Death Cover

What is Accidental Death Cover?

As an addition to any OneCare policy, you can also top up your cover with Accidental Death Cover.
Accidental Death Cover provides you with the peace of mind that your interests will be protected after you’re gone. And at a time when emotions are running high, life insurance can provide the people you leave behind with financial certainty.

How does Accidental Death Cover work?

The benefit is a lump sum of up to $1 million in the event that you die from an accident. This top-up cover is a low cost addition to a portfolio of cover with OneCare.

OneCare’s built-in features

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or CPI, whichever is greater.

OnePath ’s indexation minimum is among the highest in the market.

Future Insurability

is full of exciting changes, and your needs and priorities now will probably change in the years to come.
So that your insurance can keep up with your changing responsibilities, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months if you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school

complete an undergraduate university degree

become a carer

get divorced have a spouse who dies have a change in taxation status due to a dependant turning 18 years old (Accidental Death Cover only).

<Because your policy is for business purposes, you can also increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

OneCare’s additional options

<Premium Waiver Disability Option>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your Accidental Death Cover premiums.

Therefore by including the Premium Waiver Disability Option, you will not need to worry about paying your Accidental Death Cover premiums; OnePath will waive your premiums whilst you continue to be disabled up until age 65.

Extra Care – Terminal Illness Cover

What is Terminal Illness Cover?

As an addition to any OneCare policy, you can also top up your cover with Terminal Illness Cover.
Terminal Illness Cover provides you the ability to pay any medical expenses, mortgages, personal debts and to make modifications to your home. The money may also enable your spouse to take time off work so that he/she can take care of you. And with Terminal Illness Cover all of this can be achieved without eroding your life insurance cover.

How does Terminal Illness Cover work?

The benefit is a lump sum of up to $1 million in the event that you are diagnosed with a terminal illness. This benefit caters for a diagnosis of up to 12 months in advance.
This top-up cover is a low cost addition to a portfolio of cover with OneCare.

OneCare’s built-in features

Indexation

To ensure your insurance levels keep up with the cost of living, OnePath will increase your cover amount every year by 5% or CPI, whichever is greater.

Future Insurability

is full of exciting changes, and your needs and priorities now will probably change in the years to come.
So that your insurance can keep up with your changing responsibilities, OnePath will allow you to increase your level of cover up to specific limits without having to supply medical evidence when significant events occur.

You can increase the amount insured once every 12 months if you:

get married

or your spouse gives birth to or adopts a child

take out a mortgage or an increase to a mortgage

have a salary increase of 15% or more

have a dependent child starting secondary school

complete an undergraduate university degree

become a carer

get divorced)

have a spouse who dies).

<Because your policy is for business purposes, you can also increase the amount insured when you:

are a key person in a business and your value to the business increases

are a partner or shareholder in a business and the policy supports a buy/sell, share purchase or business succession agreement and the value of the business increases.>

If you have not had the opportunity to exercise an increase in cover under Future Insurability in any three year period, OnePath allows you to apply for an increase on each third policy anniversary if there has not been an increase in the three years prior.

OneCare’s additional options

<Premium Waiver Disability Option>

If you have to claim under your Income Secure Cover policy, or if you are disabled for over six consecutive months, you may find it hard to keep paying your Terminal Illness Cover premiums.

Therefore by including the Premium Waiver Disability Option, you will not need to worry about paying your Terminal Illness Cover premiums; OnePath will waive your premiums whilst you continue to be disabled up until age 65.

Child Cover (not available under superannuation)

What is Child Cover?

As an addition to any OneCare policy, you can also protect you and your family from the financial impact of a seriously ill or injured child. The money could be used to pay your child’s medical expenses and treatment costs and in some instances provide you with style choices. You could use it to pay off your debts, go on a holiday, or even to make a permanent style change such as reduced working hours to care for the child.

How does Child Cover work?

The benefit is a lump sum of up to $200,000 in the event that your child dies or suffers from one of 18 listed trauma conditions. This top-up cover is a low cost addition to a portfolio of cover with OneCare.

OneCare’s built-in benefits

Child Cover benefit

The conditions covered are outlined in the table below.

Aplastic anaemia (requiring treatment)	Encephalitis (permanent and irreversible)
Benign brain tumour (permanent impairment or requiring surgical intervention)	Loss of speech (permanent)
Benign spinal tumour (permanent impairment or requiring surgical intervention)	Loss or paralysis of limb (permanent)
Blindness (permanent in both eyes)	Head trauma (permanent and irreversible)
Brain damage (permanent impairment)	Organ transplant (major)
Cancer (excluding less advanced cases)	Meningitis and/or meningococcal disease (permanent and irreversible)
Cardiomyopathy (permanent and irreversible)	Burns (severe)
Kidney failure (end stage)	Stroke (diagnosed)
Deafness (permanent in both ears)	Terminal illness

Accommodation Benefit

If your medical practitioner certifies that your child must remain confined to a bed, OnePath will pay up to $500 a day for a maximum of 30 days so that you and your immediate family members can pay for accommodation closer to you.

OneCare’s built-in features

Indexation

To ensure your insurance levels keep up with the cost of living, OnePat will increase your Child Cover amount every year by 5% or CPI, whichever is greater.

OnePath ’s indexation minimum is among the highest in the market.

Continuation of cover

OnePath allows Child Cover to continue, even if the cover it is attached to is paid. For example, if the Child Cover is attached to your Trauma Cover and you claim, the Child Cover will continue.

Conversion of cover

After your child turns 21, you or they can choose to convert their cover to Life and Trauma Comprehensive or Severity Trauma Cover without medical underwriting.

onepath.com.au Zurich Australia Limited (Zurich, OnePath) ABN 92 000 010 195 AFSL 232510 OnePath Custodians Pty Limited ABN 12 008 508 496 AFSL 238346 PVNN-017528-2021