Get valuable cover for your employees with OnePath Corporate Insurance.
Corporate Insurance, also known as Group Life Insurance, provides cover for the lives of multiple people, such as employees of a certain business. Aside from this, Corporate Insurance, like OnePath Corporate Insurance, can help you retain employees that are valuable in your business or company. Furthermore, you can also attract the best people to join your company or business.
But more than retaining and attracting the best manpower, you might be surprised to know that there are more benefits to corporate insurance for you:
- You get income tax deductible premiums
- You have desirable fringe benefits you can offer new employees
- Your turnover rate is reduced saving you money on hiring and training costs
- It boosts your employees’ morale and security and encourages loyalty
- Valuable life insurance protection at a low group rate.
OnePath Corporate Insurance features
Corporate Insurance is meant to help you with the burden of carrying all the financial load should an employee get injured or died. Corporate Insurance provides ample cover for your business and employees against such unlikely events.
OnePath Corporate Insurance, just like other corporate insurance policies, offers you the basic cover you need, but with other extra features that could boost your cover. One Path Corporate Insurance is ideal for companies or businesses which employ at least 75 people and have corporate and industry super funds.
OnePath Corporate Insurance has built-in benefits, such as Death Benefit, Terminal Illness Cover, and TPD Cover that are necessary, most especially for high risk occupations. It also has built-in features, like worldwide cover and Death Cover Continuation Option among others.
- Death Cover: This pays you a lump sum the amount for which cover is in force at the date of death under the policy.
- Terminal Illness Cover: This pays you a lump sum lower than the Death Cover in the event an insured member is diagnosed with a terminal illness stated in the policy.
- TPD Cover: If you become totally or permanently disabled, you will be paid a lump sum to help with the medical expenses and rehabilitation program.
- Leave Cover: Whether you filed for an unpaid or paid leave, you will have guaranteed protection under this built-in feature for 24 months provided the premiums are continued to be paid.
- Overseas Employment Cover: If in case you will have a job that would require you to live abroad or work overseas. Cover can extend up to five years more provided you inform the provider your whereabouts and the premium is continued to be paid.
- Extended Date Cover: In the event you have not met the eligibility criteria, you will still be provided an extended cover for 60 days.
- Death Cover Continuation Option: This built-in feature will come into play if your Death Cover expires because you are no longer employed. With this option, you can continue the Death Cover under an individual policy without providing additional medical proof.
- Limited Cover: This provides you cover for Death and TPD as a result of an accident while your application is being considered or reviewed. The cover could extend up to a maximum of 90 days.
- Guaranteed Continuing Cover: This built-in feature enables the policy to continue regardless of the changes to the number of the insured members or changes to their health circumstances.
- Future Insurability: This allows you to increase your cover in case some changes, like marriage or the birth of your child, occur without having to provide further medical evidence. This can be done in any 12-month period.
- Discounts: If the annual premium is paid within 30 days of the annual due date or if you simultaneously buy OnePath’s Group Salary Continuance Insurance with the OnePath Corporate Insurance, there will be a discount.
There are other additional options and add-ons you can add to your OnePath Corporate Insurance. Try to look at your needs, budget, and risks you want cover for in order to get the best out of it.
Who can apply?
If you have written down everything that needs to be covered in your insurance policy, and you have decided that OnePath Corporate Insurance is for you, you could either talk to a financial adviser or apply online provided you have met the following requirements:
- Your age is less than the maximum age entry, which is 64, on the day you are eligible for cover, or the date you applied for cover.
- You are an Australian resident or a holder of a visa.
- You reside in Australia, unless you live or work overseas as allowed by the Policy.
- You are not working under an occupation classed as an excluded occupation.
- You satisfy the eligibility rules.
Getting OnePath Corporate Insurance protects you and your business and lets you off a big financial burden if such unlikely things happen. But having yourself covered is like wearing a full armour – confident and ready for whatever life brings you.