Get affordable, comprehensive group TPD cover with OnePath
Total and permanent disablement cover can be very valuable if the worst were to happen to you, as it would mean you were still able to take care of your family, cover medical bills and maintain a stable and happy lifestyle, even when you are no longer able to work. Group total and permanent disablement cover from OnePath pays a lump sum benefit to you and your family so that you can use the money in whichever way you need to, whether that is to pay off the mortgage, cover household bills or complete modifications on your home to accommodate your new disability.
This option is only available to employees and members of group super funds. This review will outline the key benefits of the cover and eligibility requirements. If you are ready to make an enquiry, simply enter your details in the form below.
What does the policy cover?
With OnePath Group Total and Permanent Disablement Cover, you will benefit from:
- Coverage worldwide: No matter where you are in the world, with OnePath Group Total and Permanent Disablement Cover you have coverage 24 hours a day 7 days a week, so you have peace of mind knowing you are protected no matter what.
- Guaranteed renewable cover: Regardless of changes in your health and lifestyle, OnePath will renew your cover each year, as long as you keep your premiums current.
- Group super and insurance: OnePath Group Total and Permanent Disablement Cover if available to employees who are offered insurance coverage through their employer, and for those who are members of a group super fund. you can also take advantage of TPD insurance through OnePath if you just want to be covered by a basic and tax effective insurance product. Many employers use group insurance as a way to enhance their employee’s remuneration packages, or offer competitive insurance through a superannuation fund. Group insurance often means you don’t need to take medical or blood tests or answer any questions, as you’re insured under your employer, along with your colleagues.
- Value add to your insurances: You can also add to your total and permanent disability cover with OnePath by adding life insurance, salary continuance insurance, trauma cover or child cover.
- Eligibility to apply: To be eligible to apply for OnePath Group Total and Permanent Disablement Cover you must be a member of a complying super fund, a partner of an employee or a contractor of an employer. You must also be an Australian resident, reside in Australia, and be working in an eligible occupation.
- Automatic acceptance: OnePath may agree to provide an Automatic Acceptance Level (AAL) when you apply for Group Total and Permanent Disablement Cover, and this Level is the maximum amount of cover available to you without needing to provide evidence of your good health. The amount of the AAL which OnePath agrees to will depend on a number of conditions, for example there must be at least 75 insured members at the policy start date and at least 40 insured members at each annual review date. You must also provide an At Work Certificate and OnePath must be your sole insurer for this type of insurance.
- Coverage amounts: You can choose a cover amount for total and permanent disability up to the maximum benefit level. The benefit amount you choose for TPD cover cannot exceed the amount of your death cover.
- Change your cover at any time: You can apply to OnePath in writing at any time to change the benefits of your plan. You will then be issued with a new policy schedule detailing your new cover inclusions.
- Death benefit: If you die while your OnePath Group Total and Permanent Disablement policy is current, OnePath will pay a death benefit amount to your beneficiaries.
- Terminal illness benefit: If you are diagnosed with a terminal illness while your policy with OnePath is current, you will receive a terminal illness benefit payout.
And what doesn't it cover?
No OnePath Group TPD Cover benefit will be paid if:
- It is caused by any intentional self-inflicted act
- The event giving rise to the disability occurs outside the period of cover
- You do not satisfy the relevant TPD definition that applies to your claim
- It arises due to any other event or medical condition specifically excluded in your policy schedule
Who can apply?
You need to be between 15 and 64 years of age to apply for OnePath Group TPD Cover, and cover expires when you turn 70. The maximum amount of TPD Cover you can apply for under the policy is $5 million.
You will also need to satisfy the following requirements in order to qualify for cover:
- Must be a member of a complying superannuation fund, a partner of a partnership, or an employee or contractor of an employer;
- Must be an Australian resident or holder of a visa;
- Must reside in Australia;
- Must not be working in an excluded occupation; and
- Must satisfy the employee/super fund/partnership eligibility rules