Insurance in Super
Insurance through super can be a cost-effective way to help provide a secure financial future in the event of death, disability or temporary setback due to an illness or injury.
We are committed to the continuous improvement of our insurance arrangements to our members.
Claims
OnePath Custodians Pty Limited, as Trustee of the Retirement Portfolio Service, we will oversee and help members or beneficiaries with the claims process.
If you want to make an insurance claim, call us on one of the numbers below to request a Claims Pack, which will include the documents you’ll need to submit your claim.
| Product | Phone Number |
|---|---|
OneAnswer Super and Pension | |
Grow Wrap | |
OnePath Endowment | |
OneCare Super
| |
ANZ Insurance Only Super Products
|
You can find more information about claims here.
Please refer to our Claims Philosophy document (499kB PDF) to understand how we approach the claims process on behalf of a fund member or beneficiary.
Complaints
As a valued customer we want to hear from you if any of our products and services haven’t met your expectations.
How to make a complaint
Our people will work closely with you to address your concerns quickly and amicably.
| Product | Call Us | Email us | Write to us | Online Feedback Form |
|---|---|---|---|---|
OneAnswer Super and Pension | International: +61 2 4224 1335 | GPO Box 5306 | ||
Grow Wrap and Portfolio One | 1800 893 141 | GPO Box 3154 | ||
OnePath Endowment | 1800 646 706 | Locked Bag 994, North Sydney NSW 2060 | N/A | |
OneCare Super World of Protection (Leading Life) - Super OnePath Insurance Only Super products (Other)
| 133 667 | GPO Box 4148 Sydney, NSW 2001 |
Further Help
If you’re not satisfied with the resolution offered, you can have your complaint reviewed by an external dispute resolution scheme, the Australian Financial Complaints Authority, who provide a free, independent review to reach a resolution that is fair to you and to OnePath.
Time limits may apply to complain to AFCA, so you should act promptly or otherwise consult the AFCA website to find out if or when the time limit relevant to your circumstances expires.
Australian Financial Complaints Authority
Phone: 1800 931 678
Email: info@afca.org.au
Write to: Australian Financial Complaints Authority GPO Box 3 Melbourne VIC 3001
Online: www.afca.org.au
Cancelling or changing your insurance cover
Subject to your policy terms and conditions, if you would like to make changes to your insurance cover including increasing, reducing or cancelling cover, please call us for assistance and further instructions.
Alternatively, contact your financial adviser.
| Product | Phone Number |
|---|---|
OneAnswer Super and Pension | |
Grow Wrap | |
OnePath Endowment | |
OneCare Super
| |
ANZ Insurance Only Super Products)
|
Consequences of cancelling or changing your insurance cover
Cancellation of your insurance cover means:
- you won’t be able to make a claim for insurance benefits for events or conditions that arise from the date of cancellation; and
- insurance fees will no longer be deducted from your account.
If you’re replacing the insurance cover with alternate insurance cover, it’s recommended you wait for the replacement cover to be in place before cancelling your existing insurance cover.
If you have cancelled or reduced your cover and you wish to obtain insurance cover again or increase your cover, you’ll need to make an insurance application. As your application will be subject to health assessment and acceptance by the Insurer, you may not be able to obtain insurance cover, or your cover may be subject to terms and conditions applied by the Insurer.
We recommend speaking to a financial adviser before making any decision about your insurance cover.
Intention of providing insurance cover
We provide you with peace of mind with a range of insurance cover options. Insurance cover varies for each product, for details, including definitions and how these will be applied in practice, check the product’s Product Disclosure Statement.
Death cover helps protect the financial future of your loved ones in case of your death. It may also be payable if you are diagnosed with a terminal illness.
Total and Permanent Disability cover provides support should you suffer a lifelong disability due to illness or injury that prevents you from working.
Income Protection cover provides financial support in an event of temporary setback due to an illness or injury that prevents you from working.
To find out what insurance cover you have, contact us.
Benefits and cost of insurance in super
Holding insurance through super can provide peace of mind, knowing that should the unexpected happen, you can continue to look after the ones you love, even if you aren’t around. There are different types of insurance cover available, depending on your superannuation product, such as Income Protection, Total and Permanent Disability cover and Death cover. It’s important to research and choose the superannuation product and insurance cover that best suits you and your circumstances.
As insurance fees are deducted from your superannuation account, they are generally tax effective and don’t impact your take home pay. However, It’s important to remember that insurance fees are deducted from your superannuation account This means less money available to invest, and over the long term, less for your retirement, unless you contribute extra to cover the cost of the insurance fees deducted from your account.
As life changes, your insurance needs may change too. It’s important to review your cover regularly to make sure it continues to be right for you and insurance fees aren’t unnecessarily reducing your super balance.
Further information on insurance inside super is available through the Australian Government’s MoneySmart website here.
Key Documents
- OnePath Claims Philosophy document (499kB PDF)