Life Insurance
Illnesses Covered
Accidents Covered
Terminal Illness Benefit
Funeral Advancement
Child Cover
Standard Exclusions
Expiry Age
Illnesses Covered
tick
Accidents Covered
tick
Terminal Illness Benefit
tick
Up to sum insured
Funeral Advancement
tick
Up to $25,000
Child Cover
dollar
Option at additional cost
Standard Exclusions
Suicide within the first 13 months
Expiry Age
130
Illnesses Covered
tick
Accidents Covered
tick
Terminal Illness Benefit
tick
Up to sum insured
Funeral Advancement
tick
Up to $25,000
Child Cover
dollar
Option at additional cost
Standard Exclusions
Suicide within the first 13 months
Expiry Age
130
TPD Insurance
Accidents Covered
Illnesses Covered
Partial Benefit Payable for the Loss of One Limb or One Eye
Life Insurance Buy Back
Minimum Qualification Period
Standard Exclusions
Guaranteed Renewal Age
Expiry Age
Accidents Covered
tick
Illnesses Covered
tick
Partial Benefit Payable for the Loss of One Limb or One Eye
tick
25% of sum insured up to $500,000 (min. $10,000)
Life Insurance Buy Back
tick
Free when TPD is linked to Life Insurance
Minimum Qualification Period
3 months
Standard Exclusions
Intentional self-inflicted act or omission
Guaranteed Renewal Age
65 or 70 Depending on your occupation
Expiry Age
100
Accidents Covered
tick
Illnesses Covered
tick
Partial Benefit Payable for the Loss of One Limb or One Eye
tick
25% of sum insured up to $500,000 (min. $10,000)
Life Insurance Buy Back
tick
Free when TPD is linked to Life Insurance
Minimum Qualification Period
3 months
Standard Exclusions
Intentional self-inflicted act or omission
Guaranteed Renewal Age
65 or 70 Depending on your occupation
Expiry Age
100
Trauma Insurance
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
Trauma Reinstatement
Is this a Basic, Standard or Plus Policy
Qualifying Period
Standard Exclusions
Guaranteed Renewable Age
Expiry Age
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
tick
Free when Trauma is linked to Life Insurance
Trauma Reinstatement
dollar
Option at additional cost
Is this a Basic, Standard or Plus Policy
Plus
Qualifying Period
Up to 90 days
Standard Exclusions
Any intentional self-inflicted act or any qualifying periods
Guaranteed Renewable Age
70
Expiry Age
100
Number of Traumatic Conditions Covered (including partial)
Number of Partial Traumatic Conditions Included
Maximum Pay Out for a Partial Conditions
Life Insurance Buy Back
tick
Free when Trauma is linked to Life Insurance
Trauma Reinstatement
dollar
Option at additional cost
Is this a Basic, Standard or Plus Policy
Standard
Qualifying Period
Up to 90 days
Standard Exclusions
Any intentional self-inflicted act or any qualifying periods
Guaranteed Renewable Age
70
Expiry Age
100
Income Protection
Sicknesses Covered
Accidents Covered
Own Occupation Disablement Definition
Pre-Claims Earnings Calculation Period
Specified Injury Benefit
Trauma Insurance Benefit
Needle Stick Cover
Standard Exclusions
Sicknesses Covered
tick
Accidents Covered
tick
Own Occupation Disablement Definition
tick
Pre-Claims Earnings Calculation Period
Best consecutive 12 months for the 2 years immediately prior to total disablement
Specified Injury Benefit
tick
Trauma Insurance Benefit
tick
Needle Stick Cover
tick
Is a claimable event but doesn’t pay an additional benefit
Standard Exclusions
Intentional self-inflicted act, attemted suicide, uncomplicated pregnancy or childbirth
Sicknesses Covered
tick
Accidents Covered
tick
Own Occupation Disablement Definition
tick
Pre-Claims Earnings Calculation Period
Best consecutive 12 months for the 2 years immediately prior to total disablement
Specified Injury Benefit
tick
Trauma Insurance Benefit
tick
Needle Stick Cover
tick
Is a claimable event but doesn’t pay an additional benefit
Standard Exclusions
Intentional self-inflicted act, attemted suicide, uncomplicated pregnancy or childbirth
General
Worldwide Cover
Interim Cover
Cooling off Period
Annual Discount
Multiple Lives Discount
Multiple Cover Discount
Health Rewards Program
Premium Freeze
Standard Exclusions
Worldwide Cover
tick
Interim Cover
tick
Cooling off Period
28 Days
Annual Discount
tick
Multiple Lives Discount
tick
Multiple Cover Discount
tick
Included in displayed price (if applies)
Health Rewards Program
cross
Premium Freeze
tick
Only available for lump sum policies on a stepped premium (age restrictions may apply).
Standard Exclusions
Sicknesses or injuries that first appeared, happened or was diagnosed beofre your insurance started or was reinstated that have not been disclosed and accepted by the insurer. Non-disclosure (or inaccurate disclosure) can also void or affect your cover.
Worldwide Cover
tick
Interim Cover
tick
Cooling off Period
28 Days
Annual Discount
tick
Multiple Lives Discount
tick
Multiple Cover Discount
tick
Included in displayed price (if applies)
Health Rewards Program
cross
Premium Freeze
tick
Only available for lump sum policies on a stepped premium (age restrictions may apply).
Standard Exclusions
Sicknesses or injuries that first appeared, happened or was diagnosed beofre your insurance started or was reinstated that have not been disclosed and accepted by the insurer. Non-disclosure (or inaccurate disclosure) can also void or affect your cover.

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About OnePath

With over a 130 years of experience, OnePath has grown to become a major part of the Australia and New Zealand Banking Group (ANZ), specialising in investment, superannuation and insurance. OnePath Life protects customers from unforeseen events, supporting them and their families to continue toward their planned future.

By regularly reviewing and conducting research on the insurance industry, OnePath is able to provide flexible and comprehensive protection, making it easier for customers to tailor their policy to best fit their changing needs. OnePath Life offers a broad range of insurance products as part of their OneCare Policy; grounding their insurance policies on each customer’s individual circumstances.

YOUR QUESTIONS ABOUT ONEPATH ANSWERED

Key Statistics

The ANZ Group has a presence in over 34 markets – including Australia, New Zealand, Asia Pacific, Europe, America and the Middle East. As of August 2016, the ANZ Group employs over 48,000 people and protects the financial wellbeing of more than 8 million customers worldwide.

In 2013, OnePath Life paid out over $622 million in claims, helping 10,861 Australians and their families continue on their designated future paths.

OnePath has a very strong financial strength rating (AA) under Standard and Poor’s (Australia) Pty Limited as at September 2014, which is further supported by their treaty agreement with major reinsurer Munich RE.

History of OnePath

OnePath’s history can be traced back to 1878 when Mercantile Mutual was established in Sydney. In 1982 the ING Group purchased 50% of Mercantile Mutual and in 1987 they purchased the remaining 50%. Mercantile Mutual changed its name to ING Australia in 2001, but has no association with ING Direct.

In 2002 ING Australia operated as a joint venture between ANZ (49%) and ING Group (51%), operating ING’s investment, superannuation and insurance business. In late 2009 ING Australia sold its remaining shares to ANZ Banking Group, who then launched the OnePath brand in 2010 with the purpose of helping people shape and protect their future plans.

1878
Mercantile Mutual

1878

Mercentile Mutual is establised in Sydney.
1982

1982

ING Group acquires 50% of Mercantile Mutual.
1987
ING Insurance

1987

ING acquires 100% of Mercantile Mutual and joins ING Group.
2001

2001

Mercantile Mutual changes name to ING Australia.
2002

2002

ING Australia becomes a joint venture between ING Group (51%) and ANZ Bank (49%).
2009
ANZ Insurance

2009

ANZ acquires 100% of ING Australia.
2010
OnePath Insurance

2010

ING Australia is rebranded to OnePath.

OnePath FAQ

If you were to unexpectedly lose your job, due to other reasons than illness or injury, the Unemployment Benefit will make the minimum repayments on any of the below loans issued by the ANZ Bank:
  • Any home loans
  • Investment home loans
  • Business loans
  • Personal loans
  • Margin lending loans

As the life insured, you have to be unemployed for at least 30 days and meet all of the other eligibility criteria for the benefit to become active. It will pay the lessor of the minimum loan repayments with ANZ, your sum insured or $5,000 for a period of up to 3 months, while you are still unemployed.

OnePath is fully-owned by the ANZ Bank Group.
As a valued OnePath Onecare customer you can earn frequent flyer points. Earn one Qantas Point for every dollar of eligible premium you pay, earning up to a maximum of 20,000 points per year. You need to be registered for Qantas Frequent flyer program and currently you can join for FREE to find out more visit https://www.qantas.com/fflyer/do/dyns/joinffp?code=ANZLIFE.
OnePath Life rewards customers with premium discounts when they combine all their insurance. A Multiple life discount of up to 5% will be provided when you link your policy with an eligible family member or with a business partner or a combination of both (extended business group).
While both Premier Trauma options covers you for 60 specified trauma conditions, adding the Premier Maximiser provides you double the benefit amount payable for partial payments.

For example, if you were to undergo minor heart surgery and only have Premier Trauma cover, you’ll receive 10% of the amount insured capped at $20,000. However, if you had the Premier Maximiser you’d receive double that – 20% of the amount insured capped at $40,000.

OneCare Income Secure Cover has a few benefit periods available. Depending on your occupation you can choose a benefit period of two years, six years, or to the age of 55, 60 or 65. If you have a white-collar job you can choose a benefit period of up to 70 years. The great news is, when you look at a comparison between the insurers with a benefit period of 5 years, your will see Onepath’s 6 year benefit period included in the results. Therefore always keep this “bonus year” in mind when considering which policy to select.
Due to our strong relationship with a number of insurers and specifically with Onepath we have the ability to have new applications with medical loadings up to 75% on lump sum cover reviewed. This comes after working closely with Onepath for over 10+ years and is not available to many other companies. Please note any existing clients with an existing increased premium due to a medical loading would need to complete a new application to have access to this.
Yes, however you are NOT eligible for their direct product. You can apply for their retail policy, which we can assist you apply for however it is important you disclose you kiwi residency status when you apply for a policy. Your application will then be assessed (underwritten) by an underwriter at Onepath and based on their decision you may be deemed eligible.

If you have any OnePath related questions, please do not hesitate to contact one of our experienced consultants. However, if you prefer to rather compare OnePath with other insurers, we also have an online comparison tool that compares up to 12 insurers.

Value for Money
4.5
Features & Benefits
4.1
Customer Service
4.3
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Ask an Expert?

2 Comments

  • Sarah |

    As I know, ANZ holds 100% of ING, while OnePath operates them. If I take out a life insurance policy, which company will issue the policy to me? For life coverage of $4,200,000 how much would the annual premium be? Thanks

    Sarah

    • SPECIALIST
      Brett Lenertz |

      Thanks for contacting us Sarah, ING’s insurance, superannuation and investment business (ING Australia) operated as a joint venture between ANZ and ING Group from May, 2002. ANZ purchased ING Group’s shareholding during November 2009 and took 100% ownership, resulting in a name change. OnePath is the new name for ING Australia. The reasoning behind the OnePath branding is that it recognises that each and every one of us follows a unique path through life. As ANZ’s specialist insurance, investment and superannuation business, the purpose of OnePath is to help people shape and protect their path.

      If you would like to get a premium comparison for the level of cover you would like, please contact our office on 1300 135 205 so we can confirm a few more questions and we will be able to prepare a detailed comparison of available insurers quotes for you to consider.

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