Insuring with OnePath

Why insure with OnePath?

OnePath is a leading life insurance brand, with a heritage of over 150 years helping Australians to protect what is important to them.

We understand that life insurance is a promise and we strive to honour that promise so as to make a real difference to the lives of our customers, and their loved ones during challenging circumstances.

In 2022 OnePath retail life paid more than $611 million in life insurance claims to 4,729 customers, which gives you the confidence that if things go wrong, we will be there. Take a look at the claims we've paid here.

Life insurance

We offer different life insurance options for different people. Whether you’re taking out insurance direct with us, or you’re working with a financial adviser to build a customised protection plan, we have a solution that fits.

  • OneCare - offering a complete range of covers, benefits and features, we provide comprehensive protection for your family, your health and your lifestyle. To apply for OneCare, contact your financial adviser or call us on 133 667.
  • Group Risk insurance - provided to employers or superannuation funds wanting to arrange insurance cover for their employees or fund members.

Working in partnership with OnePath can help you protect more clients, in more markets. Based on your feedback, we’ve also developed a superior adviser experience every step of the way.

With over 100 years experience, our success has been built on sustainable business relationships.

OnePath works with advisers to deliver the solutions you need to grow your business. By partnering with OnePath, you have access to the scale and resources of one of the largest life insurers in Australia.

OneCare has been built with your feedback in mind – delivering a flexible, innovative and customer-focussed range of life insurance products to help you grow your business.

See a summary of the OneCare range here.

OneCare Express is an intuitive electronic application program that will revolutionise the way you write risk business. By providing you with an immediate policy decision it can:

  • increase sales and referral conversion
  • boost productivity
  • enhance customer satisfaction

 For more information about OneCare Express, click here.

To get on with business, you need an underwriting process that’s easy. That’s why we’ve taken on your feedback to deliver a fast and efficient underwriting process – improving the experience for you and your clients.

We achieve this by:

  • providing expert decisions in-line with or ahead of the market
  • taking personal responsibility to meet and exceed service standards
  • focussing on results, and putting applications into suspense as a last resort
  • calling you to discuss all non-standard applications
  • encouraging you to call us to discuss new and existing applications
  • thinking outside the square and proposing alternate solutions where possible.

We pay over $2.5 million in claims each business day. We approach every claim with a commitment to do whatever we can to process it as quickly, correctly and efficiently as possible.

We achieve this by:

  • assigning each individual claim to a specialist claims assessor who will work with you, your client, and their family, from start to finish
  • requesting as much information as we can upfront
  • committing and delivering on our service standards
  • upholding a personable and professional approach.

OnePath's claims team has earned an enviable reputation with risk advisers like Chris Cachia of CCA Financial Planners1.

"As a risk specialist, my clients receive quality advice that is based on over twenty years of industry experience. More importantly, I provide my clients with certainty.

This understanding led to the creation of CCAFP’s unique ‘Priority Claims Service’, a service that helps expedite and ease the stress associated with the claims process.

Over the years, I’ve worked closely with the claims departments of all of Australia’s leading life insurers to refine this service.

In my experience, I have found some claims managers seem to look for reasons not to pay a claim, but with OnePath, you get a different “feel” - they always try and find reasons to pay the claim.

What separates OnePath with other Life offices is their quick and compassionate assessment of claims.

I had one unfortunate case where a client became terminal. OnePath sought to expedite the income protections benefits (i.e. waive the requirements for financials) to alleviate the financial stress for the client in the final months of his life. A great compassionate result.

In my view, OnePath’s timeliness and compassionate sensitivity to claims clearly makes them the market leader when it comes to life insurance. This is really what the Life Insurance business is all about – helping people in their time of need."

On Adviser Advantage, you have access to the comprehensive Life Risk Marketing Toolbox – helping you attract, advise, and service more clients, more efficiently.

These resources include tools to help you:

  • tap into new and valuable market segments
  • demonstrate the need for life insurance in first appointments
  • provide clear and concise advice about OnePath’s OneCare product range
  • streamline the assessment process using our OneCare Express
  • provide post-sale and ongoing support to improve client retention
  • support your clients through the claims process.

Insurance is about managing risks so when it comes to insurance, the old adage, 'better safe than sorry' rings true.

Our research shows that Australians are overwhelmingly optimistic about their financial future. This optimism is a key driver behind Australia being the most underinsured of any developed country.

Many Australians simply don’t have enough insurance, and some have none at all. It’s a worrying thought when you consider the following statistics:

  • 6 out of 10 Australians with dependent children don’t have sufficient life insurance cover to care for their families for more than a year if they were to die^.
  • 96% of their families lack enough life insurance to protect them for 10 years or more^.

Many people think they’ll receive financial assistance through Workers Compensation, their health fund, or the Government in the event of injury or illness.

While some assistance is available, it is important to understand that there may be limits which can have a significant impact on your lifestyle. Here are some things to think about:

  • Workers compensation offers important financial protection against work related injuries. But it doesn’t cover injuries that happen away from work, or provide protection against serious illnesses like cancer and heart attack.
  • While there are a range of social security payments to assist people with illness, injury or disability, the amount you are eligible for may not cover your medical and living expenses.
  • Private health insurance can help cover a range of medical expenses, but it doesn’t help you with your everyday living expenses – like household items or mortgage repayments. Health claims are also often capped, which may leave you with a gap in your medical expenses to cover.

If you are an employee, chances are you have some life insurance cover through your super fund. But the level of cover provided through your super fund is often a conservative estimate based on your salary. It doesn't take into account your level of debt, or the number of dependants you have – factors which are crucial to determining your insurance needs. So it may not be enough.

You should be able to find out your current level of cover by checking your super statements, calling your super fund, or asking your employer.

Our Promises to You

We are committed to ensuring continuity of key industry standards as we transition our industry association membership from the Financial Services Council to the Council of Australian Life Insurers. This transition will have no impact on how we serve and support our customers and we will continue to be bound by the Life Insurance Code of Practice and relevant standards.

When you take out life insurance, it’s important that you get the highest standards of service in all your dealings with us.

That’s why we have adopted the Life Insurance Code of Practice. It’s the life insurance industry’s commitment to mandatory customer service standards and it’s designed to protect you, our customer.

What does the Life Insurance Code of Practice cover?

The Code sets out the life insurance industry’s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their life insurance services, such as being open, fair and honest.  It also sets out timeframes for insurers to respond to claims, complaints and requests for information from customers.

The Code covers many aspects of your relationship with us, from buying insurance to making a claim, to providing options if you experience financial hardship or require additional support.  It is monitored by an independent committee, to ensure effective compliance by life insurers. Insurers can be sanctioned if they do not correct breaches of the Code.

Key Code Promises

  1. We will be honest, fair, respectful, transparent, and timely when we communicate with you, and we will use plain language unless medical or other technical terminology is needed.
  2. We will ensure our staff and Authorised Representatives use appropriate sales and retention practices.
  3. We will offer extra support if you have trouble with the process of buying insurance or claiming.
  4. If we find that a sale was made using unacceptable sales practices, we will fix it, for example by issuing a refund or replacement policy.
  5. When you make a claim, we will explain the process and keep you informed about our progress assessing it.
  6. We will decide on your claim within the Code’s timeframes. But if we cannot, we will explain why and tell you how to make a Complaint.
  7. If we decline your claim, we will explain why in writing and let you know what to do if you disagree.
  8. We will restrict the use of investigators and Surveillance to preserve your right to privacy.
  9. The independent Life Code Compliance Committee (Life CCC) will monitor our compliance with the Code.
  10. We will be accountable for Code requirements, and the Life CCC can sanction us.

Getting a copy

You can get a copy of the Code here and a full list of the insurance companies it covers on the CALI website.