OnePath Income Secure Cover

Information verified correct on September 28th, 2016

Receive up to 80% of your income if you can't work due to serious illness or injury with OnePath Income Secure Cover

Bearing in mind how much the majority of us rely on our income to do everything from put food on the table and pay the rent or mortgage to paying the bills and the kids' education, it is vital to have some protection in place to avoid being left high and dry due to circumstances beyond your control. This is where income cover can prove invaluable, with OneCare Income Secure Cover you can enjoy peace of mind as well as a range of valuable benefits.

OnePath Income Secure Cover will pay up to 80% of your income if you can't work due to serious illness or injury. The policy also comes with a range of additional benefits including Accidental Death, Terminal Illness and Needlestick Cover. Keep reading to learn more about the policy or submit your details to receive a quote.

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What does the policy cover?

For those that are keen to protect their income in the event that they are unable to work due to sickness or injury, the OneCare Income Secure Cover plan offers a range of valuable benefits and features. As is the case with any type of insurance plan, it is important to ensure that you always check the benefits and features carefully to determine whether the plan is suited to your needs. Some of the benefits and features that you will get to enjoy with this plan include:

  • Premium discounts, which are discounts that are available if you combine your cover with other types of OneCare insurance protection or with your business partner or family members
  • Flexibility with cover options, as you can choose from four different levels of cover in order to find the one that best fits in with your requirements as well as your pocket
  • Special risk protection, which is a special type of cover that is ideal for those that work in high risk occupations and therefore need specialist insurance cover
  • Extra care cover, which enables you to add up to three benefits to your OneCare Income Secure Cover. This includes benefits such as terminal illness cover or accidental death cover
  • Increasing cover, which enables you to increase the sum insured every year in line with increases in your income but without the need to undertake further medical tests

Earn Frequent Flyer Points

An additional benefit that you can enjoy in addition to the ones listed is the ability to earn Qantas frequent flyer points, which is ideal for those that enjoy travelling. You can earn one point for each dollar that you pay in premiums, which is a great way to reduce your air travel costs whilst also benefitting from the peace of mind of having income protection in place to protect against unforeseen circumstances.

With the OneCare Income Secure Cover plan you can choose to have up to 80 percent of your regular income protected, which means that if you do find yourself in a situation where you cannot work and earn your income, the damage to your financial wellbeing will be minimised, you may only find yourself down by around 20 percent of your income rather than finding yourself in a situation where you are receiving no income at all.

With the choice of cover options available with this plan you can tailor your cover to suit your needs and to fit in with your budget, making it more affordable and viable to have this sort of protection in place.

How does the unemployment benefit work?

If you're made involuntarily unemployed, OnePath Life will help you out by paying the minimum monthly repayment for any ANZ credit, personal loan, or home loan repayment. This benefit is up to a maximum of $5,000 per month or the monthly insured amount, whichever is less, for up to three months. Unlike other benefits of this kind, OnePath offers this benefit from the first day of unemployment.

Who should consider the policy?

It is important for anyone that is in paid employment to think about how and whether they would cope if they were to find themselves in a position where they could not work and earn an income. Without an income you may struggle to:

  • Pay the rent or mortgage to keep a roof over your head
  • Pay for food and clothing for yourself and other members of your family/household
  • Pay the bills
  • Make repayments on debts
  • Fund the kids' education

There are many people who will benefit from taking out the OneCare Income Secure Cover. If you work full time, you rely on your income to get by and you do not want to find yourself in a position where your income is suddenly snatched away from you, then this could be the ideal solution for your needs.

If you have dependants who also rely on your income, or you have debts that you are repaying from your salary, you will also benefit from the peace of mind and cover that this insurance provides. Workers who are in high risk occupations or specialist careers can also benefit hugely from this cover thanks to the Income Secure Special Risk feature of the plan, which enables them to get the protection they need.

Request an income protection quote from OnePath

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