• image
  • image

OneCare - an integrated insurance solution



The OneCare insurance offer comprises Life, TPD, Income Secure and Extra Care cover and will be available to members of an Oasis Superannuation Master Trust who are accepted for cover under individual insurance policies owned by the trustee, Oasis Fund Management Limited (OFM). OneCare is issued by OnePath Life Limited (OnePath Life, ABN 33009 657 176 and AFS Licence No. 238341).


10 reasons why OneCare leads the market for Oasis clients



1. A market-leading insurer who delivers on the insurance promise

OnePath has won numerous industry awards, including AFR Smart Investor’s Blue Ribbon Awards Life Company of the Year for three consecutive years. Such accolades reflect our commitment to delivering on the promise of insurance. In fact in 2009 alone, we paid over $469 million in claims for more than 9,000 Australians.

2. Continuation of cover without the need for underwriting

Your client can continue their cover even if they leave their current fund – without the need for underwriting. Your client can apply by simply confirming a new premium payment method and the cover continues.

3. A seamless application process for covers in and out of super

To simplify the application process, your client may apply for covers both in and out of super via a single application.

4. A wide range of discounts

OneCare rewards your client with premium discounts when you package all of their insurances – helping you make their cover even more affordable. These discounts are based on:
  • the size of cover (Size discount)
  • packaging lump sum and Income Secure policies under OneCare (Multi-cover discount)
  • policy linking with a spouse, immediate family member or business partner to form a group. OneCare allows a combined family and business group, making it even easier to maximise the discounts (Packaging discount).
Best of all, the discounts include all of your client’s applicable cover both in and out of super. Multi-cover and Packaging discounts are also available regardless of when the cover is applied for. For example, your client may have existing Life Cover through OnePath. Even if they obtain Income Secure Cover at a later time (e.g. annual review), they will still enjoy the 5% Multi-Cover discount on the Life Cover.

5. Comprehensive Interim Cover

Once the application is received by OnePath Life, your client will be covered with Interim Cover (at no extra cost) while their application is being assessed. Unlike some insurers’ Interim Cover (which only covers accidents), OnePath’s offer extends across sickness as well.

6. The broadest range of future insurability events in the market

To help your client’s cover evolve with their lifestyle, your client can increase their sum insured every three years without any medical checks. Your client can also increase their cover before each third year anniversary – again, without medical checks – if they experience a future insurability event, such as:
  • marriage
  • childbirth
  • purchasing a home
  • having a child start secondary school.

In both scenarios, the increase amount would be the lesser of:
  • $200,000
  • 25% of the amount insured at the start date.
As a built-in benefit, the future insurability feature comes at no extra cost to your client. Additionally, the feature is available to clients with medical loadings of up to 50%. Please refer to the OneCare External Master Trust PDS for more information and the eligibility criteria.

7. Premium waiver during serious disability

The time your client most needs their insurance can also be when they can least afford it. In recognition of this, your client may have their Life Cover premiums waived for up to two years if they become seriously disabled (i.e. require help with day-to-day tasks).

8. Faster buy back of Life Cover after TPD claim

With many insurers, the option to reinstate Life Cover at a later date comes at an extra cost. With OneCare, the Buy Back option is a built-in benefit. Your clients will be offered reinstatement – in writing – 12 months after the later of the date we receive their completed claim form, or the date they satisfy the disability definition.

9. Two-tier Total Disability definition for Income Secure Cover

Under our generous two-tier ‘Total Disability’ definition, your client may receive the full monthly benefit if a) they are unable to perform one or more duties necessary to their regular occupation and are not working or b) they are only able to work up to 10 hours a week in their regular occupation. The second tier enables your client to remain connected with their business even while totally disabled and receiving the full monthly benefit. This definition applies to Income Secure Standard.

10. Income Secure Cover that covers more

OnePath Life provides a benefit period to age 70 – an important and relevant feature given the increases in retirement age. Five years can make an enormous difference to long-term claimants. For instance, a client with $10,000 monthly benefit would claim an extra $600,000 (plus indexation, if applicable) with the additional five years.


What you need to do to apply for OneCare



To apply for the OneCare offering on the platform, you will need to obtain OneCare insurance cover through an existing Superannuation and Rollover Division account.


OnePath's Illustrator - OneCare Express - an integrated insurance solution



OneCare Express is an intuitive electronic application program that fully integrates the quote and application. Read more