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In financial difficulty? We’re here.

In financial difficulty? We’re here.

We’re here to support you

The value of life insurance is the certainty it provides in protecting what matters most to you.

As your life insurer, we believe it’s our responsibility to help you maintain this certainty as long as you need it – which is why we offer support to our customers through periods of financial hardship.

We offer flexible product and payment options

OneCare offers a range of flexible covers and payment options to help give you breathing space when you need it, summarised in the table below. Your latest Policy Schedule will show you what you’re currently covered for.

To discuss your options for lowering your premium, or for anything else to do with your cover, please speak to your financial adviser, or call us on 133 667. 

1. New options available for financial hardship

To help customers experiencing genuine financial hardship during this period to manage tightened household budgets, we have developed two new temporary premium affordability options:


Cover Suspension is a temporary offer to suspend cover and premiums, for the whole policy, for a period of between three to six months - without the obligation of going through underwriting again (health or financial) to reinstate the cover.

It’s important to know that there is no cover under the policy for conditions arising during the Cover Suspension period. Additionally, if this option is taken up, the Cover Bounce-back option will no longer be available to you.

Your policy must have been in force for at least 24 months before the option commences. This option may be withdrawn from offer at any time.


Cover bounce-back is a temporary offer for customers not on claim, to reduce the amount insured on a stepped premium policy. Cover can be reduced to any amount above the minimums stated in the Product Disclosure Statement (PDS). The policy owner will then be able to reinstate their amount insured back to the value held immediately before Cover bounce-back, without a re-assessment of their health or financial circumstances.

If a claim condition arises during the cover bounce-back period, a reduced cover amount will reduce any benefits payable. Additionally, if this option is taken up, the Cover Suspension option will no longer be available to you.

Your policy must have been in force for at least 24 months before the option commences. This option may be withdrawn from offer at any time.

2. Additional options to lower your premium

We recommend speaking to your financial adviser before acting on any of these options, to ensure you understand the impacts they may have on your cover should you need to claim.
Income protection policies have unique options to assist with affordability:
  • An Unemployment Premium Waiver available for Professionals Cover where premiums will be waived for up to three months for involuntary unemployment.
  • Pregnancy Premium Waiver for up to 3 months (applies to Essentials Cover     only)  
  • Premium Pause for up to 12 consecutive months applies to Professionals Cover only)
  • Premium and Cover Suspension Benefit (applies to Essentials and Income Cover SuperLink)
Other commonly used options OneCare customers can consider:
  • Change cover from a fully featured cover to a less fully featured cover
  • Change cover from agreed value to indemnity. Read more
  • Increase the waiting period. Read more
  • Reduce the benefit period. Read more
  • Remove some extra-cost options (if selected)
  • Change your payment frequency to annual or half yearly
  • Quit smoking for longer than 1 year & change to non-smoker rates. Read more
  • Reduce your amount insured
  • Switch off indexation. Read more
  • Removal of the increasing Claim Option
  • Apply for Premium Freeze on your lump sum cover (the amount you're covered for will generally reduce to keep your premium the same)
  • Change your TPD cover from Own Occupation to Any Occupation. Read more.
  • Change your Trauma cover from Premier to Comprehensive
  • Check if you have any premium loadings on the policy that can be reviewed. Read more
  • Explore the opportunity for tax deductions for your premiums. Read more

OneCare is issued by OnePath Life Limited(OnePath Life) ABN 33 009657 176, AFSL 238341. OneCare Super is issued by OnePath Custodians Pty Limited (OnePath Custodians) ABN 12 008 508 496, AFSL238346. OnePath Life is not a related body corporate of OnePath Custodians.

We recommend that you read the OneCare Product Disclosure Statement and Policy Terms available at or by calling 133 667 before deciding whether to acquire, or to continue to hold the product.undefined

It is noted that the static disclaimer is designed for general purpose. Provided that this article is OneCare specific, suggest including the OneCare issuer details and where a PDS can be obtained. For completeness, it is noted that GAW is included in the static disclaimer.


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In financial difficulty? We’re here.