OnePath life insurance review

We looked at 19 insurers — OnePath life insurance has the second-highest entry age limit but it also has a high level of complaints.

Our Verdict:

  • With OnePath, there’s no death benefit limit — it’s tailored to your circumstances. From the 19 brands we analysed, the second highest is NobleOak at $15,000,000.
  • This provider has the second-highest claims acceptance rate of 94.3% for death cover.
  • It also has the second-highest claims disputes (33.5 per 100,000), according to the government’s consumer site by MoneySmart and was recently made to pay $35 million to over 40,000 customers who were sold life insurance policies over the phone between 2010 and 2016.
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Product NameOnePath life insurance
Maximum Cover No limit
Funeral Benefit $25,000
Guaranteed Renewability
Cooling-off (days)28
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OnePath has been around for over 130 years and offers a number of life insurance products to Australians. They're also affiliated with Qantas Frequent Flyer Club, so you can earn 1 point for every $1 of your premium you pay.

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Maximum cover amountNo set maximum sum insured. Based on the individual circumstance.
Age of entry15 - 75
How do I apply?
With an adviser over the phone

Based on OneCare Life Cover plan. Age of entry will vary based on the type of premium you choose.

  • Discounts available for combining different types of policies.
  • Administration charges can be applied to recoup the costs of administering any government charges or taxes.
  • Qantas points can be earned from the premiums you pay on the policy
  • Premium rates can be changed at any time.
  • Cover is provided while your application is processed.
  • Premium loading may be applied depending on the frequency in which you pay your premiums.

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

  • Term Life/TPD Award - 2016 Winner, Strategic Insight Product Category

OnePath OneCare Features

OnePath's life insurance package, the OnePath OneCare solution, comes with features which you can customise according to your needs. These include:

  • Instalment Options: For those who have difficulty paying their insurance premiums in cash, this option gives you comprehensive cover through an easy instalment scheme. It also allows partial payments on some trauma events as they made some enhancements on the definition of trauma.
  • SuperLink: If you are looking for tax breaks, this feature allows you to divide your TPD cover between your superannuation and non-superannuation policy.
  • Third Tier TPD Definition: This feature which is included in the Income Secure Cover, together with the third tier definition of partial disability, puts into consideration the effect of an illness or injury to your capability to generate income. Therefore, the type of disability each person has will be dealt with in a different level.
  • Business TPD: If you have a business and you get this type feature, you are allowed up to $10 million worth of TPD cover which protects both your personal and business investments in the event of disability.
  • 24/7 Tele-claims: If you have questions about your policy, this feature allows you to call from home.

Aside from these latest enhancements, OnePath OneCare has other features such as an Increasing Indexed Cover, Instalments Benefit, Living Expenses Cover, and Qantas Frequent Flyer Points.

What life insurance policies are available from OnePath?

All the former life insurance policies made available by ING and before that by Mercantile Mutual are now available through OnePath. OnePath Life Insurance helps in making certain that your debts and your dependants are fully taken care of in the event of your death. It gives you the flexibility of choosing the most appropriate product that will best suit your individual situation.

What types of cover is included?

OneCare is a flexible insurance option that can be tailored to provide the right level of cover to you and your family. It offers a complete range of covers, benefits and features to give you the peace of mind you need. There are eight types of OneCare cover available:

  • OneCare Life Cover: This type of cover pays out a lump sum or instalments if you die or are diagnosed with a terminal illness.
  • OneCare Total and Permanent Disablement (TPD) Cover: This pays a lump sum to help you manage your long-term financial needs if you become totally and permanently disabled.
  • OneCare Trauma Cover: Trauma Cover offers a lump sum payment designed to help you recover from a range of serious medical conditions, such as a heart attack or cancer.
  • OneCare Income Secure Cover: Income Secure pays up to 80% of your income if you can’t work because of sickness or injury.
  • OneCare Business Expense Cover: This type of insurance pays a benefit to cover your business expenses if you are totally or partially disabled.
  • OneCare Living Expense Cover: Designed for retirees and homemakers, this cover pays an agreed monthly benefit if you are significantly disabled.
  • OneCare Child Cover: This type of cover protects your family against the financial impact of childhood accidents and illness.
  • OneCare Extra Care Cover: This is a top-up option that lets you take out additional cover for things like terminal illness and accidental death on top of other OneCare policies.

What are the key benefits of OnePath One Care?

All OnePath OneCare policies include the following standard built-in benefits

  • Qantas Points: You may be eligible to earn Qantas Points for the premiums you pay on your policy.
  • Guaranteed upgrade of benefits: OnePath will automatically add any future improvements it makes to any of the features and benefits available under your policy as long as they do not result in a premium increase.
  • Premium discounts: OnePath Life offers premium discounts when you combine all of your insurances. The size discount is based on the amount of cover you take out, the multiple cover discount applies when you take out a combination of cover types, and the multiple life discount applies if you link your policy with an eligible family member or business partner.
  • Interim cover: This means you’ll be covered while your application is being processed.
  • Flexible cover: Your level of cover increases each year to keep up with inflation, or when certain major events happen to you, without any additional medical checks.
  • Guaranteed continuing cover: Your policy will continue when you pay your premium each year, regardless of any changes to your health.
  • Grief Care program: If you make a death or terminal illness claim, OnePath may offer you and/or your family free access to counselling.

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EasyProtect is no longer available in the market. You can still get quotes for advised cover from OnePath here.

OnePath’s EasyProtect Life Insurance offers a simple way to protect your family from the financial impact of your death. This do-it-yourself option lets you tailor your cover to ensure your family’s financial future when you’re gone.

What types of cover is included?

There are five types of cover available through the OnePath EasyProtect product range:

  • EasyProtect Life: This cover is an easy way to protect your family’s finances when you die. It pays a lump sum which can be used to pay off debt and cover your family’s day-to-day expenses, providing them with security and peace of mind.
  • EasyProtect 50+: This type of cover is designed to help your family cover the expenses that arise when you pass away. It provides a lump sum payment to cover funeral expenses, bills and other costs.
  • Accident Cover Plus: Accident Cover Plus is designed to help maintain your family’s financial security in the event of your accidental death or if you suffer an accidental injury.
  • EasyProtect Income: This offers a monthly payment to help pay the bills if you are unable to work due to illness or injury.
  • EasyProtect Major Illness: Major Illness cover pays out a lump sum to protect you from the financial impact of a major illness or injury.

Key Features of OnePath EasyProtect Life

OnePath EasyProtect Life offers the following key features:

  • Affordable premiums. You can choose a level of cover that suits your circumstances and budget.
  • Combined cover discount: Get a discounted premium if you take out cover for you and your partner.
  • Easy application process: You can apply for cover online or over the phone, with no medicals or blood tests required.
  • Cover up to $1,500,000: The maximum cover level of cover available depends on your age.
  • Immediate acceptance: Cover starts as soon as your application is accepted.
  • Worldwide cover: You’re covered anywhere in the world.
  • Other benefits: These include inflation indexation, flexible payment options, and the ability to earn Qantas points.

Features of OnePath EasyProtect for Over 50

OnePath EasyProtect 50+ offers the following features:

  • Choose your cover: You can choose cover up to $15,000 for the Life Benefit, with up to a further $15,000 if your death is caused by an accident.
  • Quick claim payments: Claims are usually paid within two business days.
  • Premium freeze: OnePath guarantees that your premiums will never increase.
  • Easy application: No health questions, blood tests or medicals are involved in the application process.
  • Other benefits: These include renewability, standard and capped premium payment options, a 21-day cooling-off period and the ability to earn Qantas Points.

Features of OnePath EasyProtect Accident Cover Plus

OnePath Accident Cover Plus offers a wide range of features, including:

  • Guaranteed acceptance: People aged between 18 and 74 years are guaranteed acceptance without any medicals.
  • Choose your level of cover: The maximum Death Benefit payable is $1million.
  • Optional Accidental Injury insurance benefit: For an extra cost, this benefit provides cover for specified accidental injuries such as paralysis or broken bones.

Benefits of OnePath EasyProtect Income Cover

Features of EasyProtect Income include:

  • Major illness and injury benefit: This monthly payment is up to 75% of your monthly pre-claim earnings.
  • Choose your benefit period: The options are six, 12 and 24 months.
  • No medicals: You will have to answer a few general health questions but no medicals are required.
  • Other benefits: Premiums can be paid monthly, fortnightly or annually, while you can also earn Qantas points.

Features of OnePath EasyProtect Major Illness Insurance

OnePath EasyProtect Major Illness includes the following features:

  • Combined cover discount: Get a discounted premium if you take out cover for you and your partner.
  • Easy application process: You can apply for cover online or over the phone, with no medicals or blood tests required.
  • Cover up to $750,000: The maximum cover available to you depends on your age.
  • Immediate acceptance: Cover starts as soon as your application is accepted.
  • Worldwide cover: You’re covered anywhere in the world.
  • Other benefits: These include inflation indexation, flexible payment options, and the ability to earn Qantas points.

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What types of cover is included?

OnePath Group Life Insurance is designed for employers or superannuation funds wanting to provide their employees or fund members with insurance cover. There are three products in the OnePath Group Life Insurance range:

  • Group Life: This cover pays a lump sum if you die or are diagnosed with a terminal illness.
  • Group TPD: This cover pays a lump sum if you are diagnosed with a total and permanent disability.
  • Group Salary Continuance: Group Salary Continuance cover pays out a monthly benefit of up to 75% of your regular income if you can’t work because of sickness or injury.

Some benefits of OnePath Group Life Insurance Plans

OnePath Group Life Insurance policies offers some of the following features and benefits:

  • Death Cover: Your cover will pay a lump sum benefit if you die.
  • TPD Cover: You will receive a lump sum benefit if you become totally and permanently disabled.
  • Transfer Terms: OnePath may agree to take over the cover provided by your previous insurer and provide equivalent benefits on certain terms
  • Worldwide cover: Cover applies anywhere in the world.
  • Flexible cover: Cover applies if you are taking paid or unpaid annual leave for up to two years, as well as if you are employed overseas for up to five years.
  • Death Cover Continuation Option: If your Death Cover ends because you are no longer gainfully employed, you can apply for an individual policy providing Death Cover without any medical underwriting.
  • Other benefits: These include limited cover for death and TPD that occurs as a result of an accident, premium discounts, guaranteed continuing cover and future insurability.

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Am I eligible?

PlanEntry age*
Life CoverBetween 15 and 75
Income ProtectionBetween 19 and 60
TPDBetween 15 and 75
Trauma InsuranceBetween 15 and 65
Business ExpensesBetween 19 and 60

*Varies depending on the time of premium you select. Make sure you speak to an adviser.

Does OnePath have any rewards programs?

OnePath offers a range of loyalty discounts as well as the chance to earn one Qantas Frequent Flyer point for every dollar spent on eligible life insurance policies.

The loyalty rewards include the following:

  • Size discounts. You can get discounts for taking out larger amounts of cover, in dollar terms, with OnePath. This applies even when you have split the amount insured across multiple policies.
  • Packaging discounts. You can get up to 10% off by linking your OneCare policies with those of eligible family members or business partners.
  • Multiple cover discounts. You can get an additional 5% off on OneCare Life Cover, TPD Cover and/or Trauma Cover by also taking out OneCare Income Secure Cover or OneCare Business Expense Cover at the same time.

The OnePath and Qantas Frequent Flyer rewards program

For a limited time, you may be able to receive Qantas Frequent Flyer points whenever you pay OneCare premiums on a policy where you are the policy owner and the insured individual. Earn one point for every dollar spent (including GST) on this cover, up to 20,000 per year.

To start earning points, you need to be a member of the Qantas Frequent Flyer program and provide your membership details to OnePath. After your Qantas membership details have been received by OnePath, you can start earning points on premiums paid in the future. Both the Qantas membership and the OnePath policy need to be under the same name.

Points will not be awarded if your policy lapses or if you breach the terms of either OnePath or Qantas Frequent Flyer. Should you receive a refund or account credit, such as by signing up for a policy and then cancelling within the cooling off period, you may lose any points you earned.

Note that any Qantas points held in an account are cancelled in the event of a policyholder’s death and cannot be claimed by someone else.

Who can sign up?

You will only earn points for premiums paid towards a OneCare, OneCare Super or World of Protection policy. Because you need to sign up for Qantas Frequent Flyer membership first, you will also need to meet the eligibility requirements of that program, which may involve paying joining fees.


OnePath as a life insurance brand has dominated industry awards for several consecutive years.

  • Winner: Risk Company of the Year 2008, 2010, 2011, 2012, 2013 - Money Management/DEXX&R Adviser Choice Risk Awards
  • Winner: Claims Team of the Year 2012 - AFA/Plan For Life - Life Company Awards

Meanwhile, its products, particularly OneCare, have won praise from all corners for delivering exceptional overall value for money.

  • 2012 Gold Winner Term Life, TPD and Trauma - Money Management/DEXX&R
  • 2012 Trauma/Critical Illness Product Award - Plan for Life/AFA Awards

How are my premiums paid?

You can pay your premiums using the following methods:

  • Cheque, unless you are paying premiums monthly
  • Credit card
  • Direct debit
  • Transfer authority, for premiums paid annually with OneCare Super only

Where possible, it’s more cost effective to pay premiums yearly. Paying monthly will incur a 6% premium loading, while paying half-yearly will incur a 3% loading.

Your premiums will be largely dependent on your chosen premium structure. The two options are stepped premiums and level premiums.

These are recalculated each policy anniversary and are based on your age and the policy fee at the time. The premium increases are also based on changes to your sum insured, regardless of whether you requested the increase or the increase is due to inflation.

Your premium for a particular level of cover will only change in relation to the policy fee. If you increase your cover on a level premium plan, the premium for the increase will depend on your age at the time of the increase and the level premium rate for that age.

Level premiums are not available with Child Cover, Extra Care Cover or after age 65. If you are on a level premium plan, it will convert to stepped premiums at age 65.

What are the policy fees?

The policy fee is a fee that applies to each life insured under the policy. It is quoted alongside the premium at the time of application and will increase in line with the inflation indexation factor. It makes up a significant portion of your annual premiums.

The minimum annual premium, across all covers and including the policy fee, is $300 for each life insured. As of November 2016, the policy fee was $86.25 for each life insured.

Factors affecting your premiums

The following factors affect your premiums:

  • Your sum insured. You can expect higher premiums with more cover in terms of the total dollar value. This may be partially offset by OnePath discounts for larger sums insured.
  • Your policy options. This includes optional inclusions, more types of cover and other decisions.
  • Lifestyle and personal factors. Your age, gender, smoking status, health and occupation all affect your premiums.

What other charges are there to be aware of?

Your policy fees are part of the premium and will not need to be paid separately. It’s important to note that your costs may increase if you stop being eligible for discounts or if additional loadings apply for some reason.

Portions of your payout may be withheld if OnePath is required to do so for tax purposes or other reasons. Additional charges may apply in the form of charges or taxes such as stamp duty or GST.

Claims Paid by OnePath

  • Claims paid in 2014. In 2014, OnePath paid out over $660 million to more than 10,800 customers with both group and retail life insurance policies.

Find the breakdowns below. These numbers have been rounded off to the nearest million for total claims paid and nearest thousand for average payment per claim.

What the payment was forTotal value of claims paidAverage payment per claim
Retail: Life benefit$102 million$263,000
Retail: Terminal illness$25 million$313,000
Retail: Total and permanent disability$31 million$209,000
Retail: Trauma and serious illness cover$100 million$191,000
Retail: Income protection and business expenses$100 million$34,000
Group: Life benefit$89 million$116,000
Group: Total and permanent disability$97 million$80,000
Group: Terminal illness$20 million$139,000
Group: Salary continuance$95 million$23,000

How do I make a claim?

If you need to make a claim, contact OnePath as soon as you are able. Within 24 hours of receiving your call, you will be sent a claims form along with an information pack to help guide you through the process.

If you hold your insurance cover through a super fund, the trustee of your fund will likely be managing your claim, and you should notify them as soon as possible in the event of a claim. Benefits will be paid to the trustee, and the trustee is legally only allowed to release payment to you if you meet one of the conditions of release. If you do not meet a condition of release, benefits can instead be paid into an eligible super fund of your choice.

For all claims, OnePath will generally require the following information to process it:

  • You will need to provide proof of the claimable event’s occurrence, such as a death certificate.
  • You will need to provide proof of policy ownership.
  • You will need to provide a birth certificate for proof of age.
  • You will need to undergo medical examinations as required. This will typically be done at the expense of OnePath, unless costs are recoverable from another source.

To carry out its due diligence, OnePath may also request specific additional information which you will need to provide.

Background of OnePath Australia

OnePath Life Insurance's parent body ANZ is a leading global and local bank that has a presence in 32 countries around the world. Its main operations take place in Australia, New Zealand, Asia, the Pacific, America, Europe and the Middle East. It delivers services to over 5.7 million retail customers throughout the world and employs more than 39,000 people. OnePath itself has a most comprehensive range of wealth and insurance products on offer that are made available through a network of financial advisers or directly to its customers making it easier for you to find a suitable solution.

Since Mercantile Mutual was first launched in Sydney over 130 years ago it has changed its head office locations, acquired new businesses, been acquired by others and changed brands more than once. Despite the outside changes, on the inside it has remained dedicated to the freedom of Australians, helping people shape and protect the quality of their lives and that those they leave behind. Being a part of ANZ is the next exciting step for OnePath Insurance, letting them bring new opportunities to and better share the future with their loyal customers.

OnePath Life Insurance timeline

A run down of the past history of OnePath Life Insurance shows its 'bloodline' being second to none other in the life insurance business in Australia, as the following time scale shows:

  • 1878 – Mercantile Mutual life insurance formed in Sydney after three Sydney businessmen decided to go ahead with the need to begin a distinctly Australian insurance company, as distinct to mainly English life companies operating here at the time. They sought and received sufficient support for their idea from friends and supporters during a cricket match in 1877.
  • 1950, 1960 and 1970 - The company continue to grow with the taking over of Oceanic Insurance, Australian General Insurance and the Australian Metropolitan Life Company.
  • 1982 – Mercantile Mutual became a part of the ING Group when ING acquired 50% of the company.
  • 1987 – ING acquired the remaining 50 percent and became the sole owner.
  • 2001 – Mercantile Mutual changed its name to ING Australia.
  • 2002 – ANZ acquired 49 percent of ING making ING a funds manager and life insurance joint venture.
  • 2009 – ANZ acquired the remaining 51 percent giving it 100 percent ownership of ING Australia.
  • 2010 – The ING brand name was changed to OnePath. The name OnePath being chosen in recognition that people take different paths in life. It is OnePath see it as their role to assist these people shape and protect the quality of their chosen path through life.


OnePath may not pay a claim if exclusions apply. For example, the company may not pay out if the insured person dies as a result of the insured’s intentional act or omission (ie, self-inflicted injuries). This exclusion applies for 13 months following new cover, reinstatement of cover or an increase of cover at the policy owner’s request. This exclusion applies to all death benefits, including the limited death payouts that may be found in TPD, Trauma and other policies.

These exclusions do not apply if the OnePath policy is replacing a former life insurance policy as long as you meet the following conditions:

  • The former policy was in force for at least 13 months before the start date of the current policy.
  • The policy that was replaced was cancelled immediately after the start date of the current policy.
  • All similar policy exclusions under the replaced policy have expired, including new exclusions applied as a result of cover reinstatement or increases.
  • No claim is payable or pending under the policy to be replaced.

Benefits are also not payable if your cover has lapsed. Your cover will lapse if you have not paid in full the premium and any applicable fees, taxes and charges for all lives insured under your policy.

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    Default Gravatar
    October 5, 2018

    I am nearly coming to end of my life insurance policy expiry date at the age of 75, what happens to it if I outlive the policy, do I get the money I paid for the policy back or do I lose it .

      Avatarfinder Customer Care
      October 7, 2018

      Hi Margaret,

      Thanks for your question.

      Generally, when you reach the age limit or the expiry date of your policy, you can no longer make any future claims. The insurer will not pay you back the premiums you paid.
      Before expiration, it would be best if you contact your insurer directly so you can decide what’s your next course of action.

      I hope this helps.


    Default Gravatar
    January 30, 2018

    I am a member for 5 years now, what will happen if i were to cancel my policy? Are there any payouts for no claims?

      Avatarfinder Customer Care
      February 23, 2018

      Hi Gerhard, thanks for your inquiry!

      Payouts occur when something happens to the policy holder that is eligible in the life insurance policy. Generally there are no payouts for no claims.



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