Do you understand your life insurance?

Our website will help you get the clarity you deserve, so you know you have the cover you need.

We’ve listened to you.

We spoke to customers from different life insurers. You told us how life insurance makes you feel.

You told us that trust, and certainty, are not where they need to be.

We want you to know we’ve heard you.

What you told us
I t s s o c o m p l e x , v e r y f r u s t r a t i n g , h a r d t o t r u s t . . .

We’re putting you in control.

We know words are one thing, and actions are another.

That’s why we’re moving quickly, changing things in a big way and doing what it takes to give you clarity, certainty and control.

Gerard Kerr

Head of OnePath Life Insurance

Our commitment

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You have a high level of uncertainty about life insurance, but you’re not alone. See our recommended places to start getting clarity and certainty on your insurance cover.
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While you’ve got more knowledge than most, mre clarity on your insurance cover, and how it works, would be good for you.
Well done! You have a more certainty about life insurance than the average insurance customer. We still invite you to have a look at our content, you never know what you could learn.
1

How long has it been since you reviewed your life insurance?

2

Do you know what types of cover you have? (e.g. life cover, income protection etc.)

3

Do you know the main factors an insurer thinks about when determining your premium?

4

Do you know why premiums may sometimes go up?

5

Do you know if you're paying stepped or level premiums?

6

Insurers can, at any time, make changes to your policy that will make it harder to claim.

7

Claims decisions are black and white - you’re either covered for the thing you’re claiming for, or you’re not.

8

Which one of the following statements best describes life insurers?

How long has it been since you reviewed your life insurance?

Answer 1
Your answer:
Less than 2 years ago

Nice work! We recommend reviewing your insurance every 12-18 months so your cover accurately reflects your needs and lifestyle.

Your answer:
More than 2 years ago

It’s probably time for a review. We recommend reviewing your insurance every 12-18 months so your cover accurately reflects your needs and lifestyle.

Your answer:
Never

It’s probably time for a review. We recommend reviewing your insurance every 12-18 months so your cover accurately reflects your needs and lifestyle.

Do you know what types of cover you have? (e.g. life cover, income protection etc.)

Answer 1
Your answer:
Yes

Excellent, you know what you’re protected for.

Your answer:
No

It’s worth checking which cover(s) you have so you know what you’re protected for.

Your answer:

Do you know the main factors an insurer thinks about when determining your premium?

Answer 1
Your answer:
Yes

Great! It's important to understand the factors that contribute to your premium so you know what you're paying for.

Your answer:
No

The 4 main factors that determine your premium are your personal risks, your age and gender, your level of cover and whether you've chosen stepped or level premiums.

Your answer:

Do you know why premiums may sometimes go up?

Answer 1
Your answer:
Yes

Excellent! It's important to understand why your premiums can increase as you can control some of the factors.

Your answer:
No

Your premiums can increase due to three main factors - the options you've chosen (e.g. stepped premiums), industry factors (e.g. rising claims) and general economic factors (e.g. low interest rates).

Your answer:

Do you know if you're paying stepped or level premiums?

Answer 1
Your answer:
Yes

Pat yourself on the back! This is an important thing to understand as it impacts your cost of insurance over the long term.

Your answer:
No

The way your premium is structured can make a big difference to how much you pay for your insurance over the long term.

Your answer:

Insurers can, at any time, make changes to your policy that will make it harder to claim.

Answer 2
Your answer:
True

It's actually false. From the minute you take it up, as long as you pay your premium, we can’t remove benefits from your policy. Any changes to your cover can only be in your favour.

Your answer:
False

That’s right. As long as you pay your premium, we can’t remove benefits from your policy.

Your answer:

Claims decisions are black and white - you’re either covered for the thing you’re claiming for, or you’re not.

Answer 2
Your answer:
Agree

Things aren't that black and white. A lot of thought, consideration, and empathy also goes into our claims process and we don't decline claims lightly.

Your answer:
Disagree

Go behind the scenes with some real-life stories, to show you what happens at claim time

Your answer:

Which one of the following statements best describes life insurers?

Answer 3
Your answer:
They pay around 50% of claims

In fact, OnePath Life pays around 93% of all claims lodged. We only decline claims in rare circumstances.

Your answer:
They pay around 70% of claims

In fact, OnePath Life pays around 93% of all claims lodged. We only decline claims in rare circumstances.

Your answer:
They pay around 90% of claims

Correct! OnePath Life pays around 93% of all claims lodged. We only decline claims in rare circumstances.