OnePath OneCare Life Cover

Information verified correct on October 28th, 2016

Get comprehensive life insurance you can tailor further to your needs with OnePath OneCare Life Cover

OnePath OneCare Life Cover will pay a lump sum or equivalent instalments if you pass away or suffer a terminal illness so you can cover offer any outstanding debts and future living expenses. The policy is backed with additional benefits including an advance assistance benefit of $25,000 to cover immediate costs including funeral expenses.

This review will outline the key benefits of the policy and additional options you can choose if you are looking to increase your protection. If your ready to receive a quote, simply enter your details in the form below.

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Coverage is the amount of money that you will be paid in the event of a claim. An insurance consultant can help you determine an appropriate amount. Calculator
Provides a lump sum payment if you become totally and permanently disabled and are unable to return to work.
Provides a lump sum payment if you suffer a serious medical condition. Cover can be taken out for 40-60 medical conditions depending on the policy you choose.
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What does a OnePath OneCare Life Cover policy cover?

  • Death benefit. If you die or are diagnosed with a terminal illness, OnePath One Care Life Cover offers a lump sum payment or can pay your benefit in regular monthly instalments. The benefit amount can be used to pay off debt, replace lost income and cover ongoing expenses. The maximum amount of cover you can apply for varies depending on your personal circumstances.
  • Advance Assistance Benefit. If the sum insured is more than $25,000, OnePath will pay an advance of $25,000 of the Life Cover amount (or three times the monthly benefit amount) to help cover funeral costs and other immediate expenses.
  • Accommodation Benefit. If your policy pays a benefit upon diagnosis of terminal illness and a medical practitioner certifies that you must remain confined to bed more than 100km from home due to that terminal illness, cover is provided for up to $500 a day for accommodation costs for an immediate family member who needs to travel more than 100km from home to stay by your side.
  • Financial Advice Benefit. If you receive a Death or Terminal Illness Benefit, OneCare Life Cover provides up to $2,000 cover for the cost of the preparation of a financial plan by a financial adviser.
  • Orphan Benefit. This benefit is available after the policy has been in force for three years. If you and your spouse suffer accidental death as a result of the same accident and you are survived by one or more dependant children, the policy will pay an additional $10,000 benefit for each dependant child (up to a maximum of $30,000).
  • Indexation. Cover automatically increases by either 5 per cent or the indexation factor, whichever is greater. This ensures that your level of cover keeps pace with the cost of living.
  • Future insurability. You are able to increase your sum insured once in any 12-month period without having to supply further medical evidence. You can only apply for these increases when a specified life event occurs, such as getting married or becoming a parent.
  • Premium freeze. If you choose stepped premiums, you can choose to freeze your premiums so that they do not increase in future years. This means that the amount insured will generally decrease at each policy anniversary.
  • Serious disability premium waiver. If you suffer a serious illness or injury that results in you permanently being unable to perform at least two activities of daily living without physical assistance, premiums can be waived for up to two years or until cover ends under your policy.


Additional options to consider 

  • Extra Care Cover. This option allows you to top-up your OneCare Life Cover policy with up to three extra benefits:

-       Accidental Death Benefit. This option pays a lump sum or instalment amounts if you die as the result of an accident.

-       Terminal Illness Benefit. This pays a lump sum or instalments if you are diagnosed with a terminal illness.

-       Extended Needle Stick Benefit. This pays a lump sum or instalments if you contract HIV as a result of a needle stick injury.

The maximum Extra Care Cover sum insured is $1 million.

  • Child Cover. OneCare Child Cover pays a lump sum if an insured child dies or suffers one of several specified trauma conditions. The maximum level of cover available under this benefit is $200,000.
  • Premium Waiver Disability Option. Adding this extra-cost option to your policy entitles you to waived premiums when you are disabled for more than six consecutive months and continue to be disabled.
  • Business Guarantee Option. This option allows you to increase your level of cover without having to supply medical evidence as your business needs change. This can help with business succession planning, key person insurance and any other business purpose approved by the insurer. You can apply for one increase each year.
  • Value Protector Option. If you elect to have your Life Cover benefit paid in instalments, the monthly instalment amount you stand to receive will increase by 3 per cent each year when on claim.

More benefits of the OneCare Life Cover

  • Qantas Points. You can earn 1 Qantas Point for every $1 of premiums paid on a OnePath One Care Life Cover policy.
  • Premium discounts. Packaging Life Cover with other cover options from OnePath allows you to take advantage of premium discounts. You can also save money by purchasing cover with a family member or business partner.
  • Choose your benefit. OnePath One Care Life Cover allows you to choose between receiving your benefit as a lump sum or in monthly instalments. A lump sum can help you cover debt and other expenses while monthly instalments can help replace lost income.
  • Choose from stepped or level premiums. Stepped premiums start out lower but increase as you age, while level premiums are averaged out over the years you hold cover.
  • Ownership options. OnePath One Care Life Cover can be held both outside and inside your superannuation. When held inside super, the policy can be issued to the trustee of the OnePath MasterFund, the trustee of the Master Trust to which the life insured is a member, or the trustee of your self-managed superannuation fund or small APRA fund.
  • Premium payment. You can pay your OnePath One Care Life Cover monthly, half-yearly or yearly by credit card, direct debit and cheque (monthly payment not available by cheque).
  • Cooling-off period. A 28-day cooling-off period applies once cover has commenced. You can cancel your policy during this time and receive a full premium refund.

When does the policy end?

OnePath One Care Life Cover ends when the first of the following occurs:

  • The full amount insured is paid
  • The cover is cancelled by the insurer
  • You die
  • You cancel the cover
  • The cover expiry date

When won't a benefit be paid?

Your OnePath One Care Life Cover claim will not be paid if, due to an intentional act or omission by the life insured, their death occurs within 13 months of:

  • Cover commencing
  • The amount insured being increased (not including indexation increases)
  • Previously cancelled cover is reinstated by the insurer
  • Cover being bought back under Life Cover Buy Back or purchased under the Life Cover Purchase Option

Who is eligible to apply?

The minimum and maximum entry ages for OnePath One Care Life Cover vary depending on whether you select stepped or level premiums.

  • For stepped premiums, you need to be between 15 and 75 years of age when you take out cover. The maximum age limit drops to 74 for policies held inside super.
  • For level premiums, you will need to be between 15 and 60 years of age when you apply for cover.

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