Life insurance costs on your mind? You’ve got options.
Article17 July 2026
OnePath helps Australians rediscover the flexibility in their policy
A quick summary for those in a hurry
OnePath life insurance has always been flexible, so that your cover changes with your circumstances and budget. With access to the My OnePath Life portal, customers can adjust factors (like sum insured, payment frequency, and optional extras) to quickly see the impact on their premiums. For more significant changes (like updating health profiles or tailoring coverage) speaking to a financial adviser is highly recommended. With over 1.5 million individual Australians insured1, OnePath can help you along the way but always remember that changing your options can change what you’re covered for so it’s always best to double check with your financial adviser before changing cover.
It’s about protecting dreams. Keeping the home we built. Funding future ambitions. And ensuring that life goes on smoothly.”
For many Australians, life insurance is a ‘set and forget’ purchase. They share personal details at the start of the policy but then just roll it over at renewal time. So, the policy starts off perfect but may not be perfect anymore.
Because times change.
Perhaps you’ve had a pay rise or moved jobs. Maybe you’ve changed your debt profile, or had dependants no longer depend on you. You might have improved your health by giving up smoking. You could even have had a major change to your family set up.
Truth is, if your life has changed then your life insurance should too.
The good news is, OnePath has lots of ways to adjust your policy to match your needs – even if that’s simply to make it more affordable. Some are quick and easily when you access the My OnePath Life portal. Others are best explored in conversation with your financial adviser.
Adjust your cost of cover via My OnePath Life
If you have access to the My OnePath Life customer portal you can explore how changing some options can change your premium. You can see an instant, updated quote – so, you can adjust your policy to your needs and budget at any time. Watch this short video.
Your available options will depend on your type of policy.
| Flexible controls available by logging into My OnePath Life^ | Life Cover | TPD Cover | Trauma Cover | Income Protection |
|---|---|---|---|---|
| Review your total cover Reducing your sum insured can reduce premiums. | ||||
| Pay your premiums annually Save up to 6% by paying yearly not monthly.* | ||||
| Decline indexation Stop automatically changing your cover to match changes in the Consumer Price Index. | ||||
| Remove extra-cost options Turn off options you don’t need. |
^ Controls will vary by product and cover type. Changing your options can change what you’re covered for and the level of protection you have in place. Please consider speaking with your financial adviser before making any changes.
* Savings are illustrative and may vary by product and customer.
To access My OnePath Life right now, click below.
Life insurance is like a superhero taking care of my family. It will protect them from financial hardship when I’m no longer around.”
Book a meeting with your financial adviser
If your cover was set up with an adviser, it’s smart to speak with them before making any changes. Or you can chat to the team at OnePath. They can help if you’re looking to:
- Make your cover more affordable.
- Update your protection to match your current stage of life.
Remember, you can’t make these changes through the My OnePath portal because they can significantly affect your protection plan.
| Flexible controls to explore with your financial adviser^ | Life Cover | TPD Cover | Trauma Cover | Income Protection |
|---|---|---|---|---|
| Remove extra-cost options Turn off options you don’t need. | ||||
| Update your health profile Changing career or quitting smoking can save you money. Check if you are paying smoking loadings and that your career coverage needs to remain the same. | ||||
| Extend your waiting period Choose to wait longer after becoming disabled before being paid a benefit. |
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| Reduce your benefit period Shorten the time you’re eligible for payments. |
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| Change your definition of TPD Switch to covering your inability to work in any occupation, instead of just your own. |
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| Tailor your TPD to your needs Our new Continuous Care product offers TPD cover for home modification or personal care needs, without covering loss of income, making it a less expensive option. |
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| Change from Agreed Value to Indemnity cover Changing to Indemnity cover means any claim would be assessed based on your average income immediately prior to the claim, rather than an agreed value and can save you 10% or more.* |
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^ Controls will vary by product and cover type. Changing your options can change what you’re covered for and the level of protection you have in place. Please review your policy or contact OnePath for further information. Consider speaking with your financial adviser before making any changes.
* Savings are illustrative and may vary by product and customer.
My father passed away when I was 10 and made it very difficult for my mother. I don’t want that for my family.”
Remember, you’re with one of Australia’s leading insurance providers
By protecting yourself with OnePath, you are enjoying:
- Strength in numbers
Over 1.5m Australians and over 75 million people worldwide1 choose OnePath to protect them. That’s in 200+ countries and territories. - Confidence in claiming
In 2025, more than $1.3bn was paid to Australian families and households2 by Zurich and OnePath Life.
We’re here to help
If you’d like to better understand your policy and all your available options:
- Contact your financial adviser
- Call OnePath on 133 667 (8:30am – 6:30pm AEST, Monday to Friday)
- Visit onepath.com.au/customers/clarity for tools, resources and guidance.
1. Media release 6 November 2025
2. OnePath retail life claims paid 2025, OnePath claims report 2025. Past performance is not a reliable indicator of future performance.
*Savings are illustrative and may vary by product and customer.
This communication has been prepared by Zurich Australia Limited trading as OnePath Life ABN 92 000 010 195 AFSL 232510 (“Zurich” or “OnePath”).
This information does not take into account your personal objectives, financial situation or needs. You should consider these factors and the appropriateness of the information to you. Consider seeking advice specific to your individual circumstances from an appropriate professional.
You should also consider the relevant Product Disclosure Statement (PDS) for the product available at https://www.onepath.com.au/documents or by calling us on 133 667 in deciding whether to acquire or continue to hold the product. Furthermore, some relevant products have been designed to meet certain objectives, financial situations and needs, which are described in its Target Market Determination available at https://www.onepath.com.au/life-insurance/target-market-determination.
