ONECARE - Insurance | OnePath

1 INSURANCEP rotection For Life Product Disclosure Statement policy terms ONECARE | ONECARE Super27 September 2021 ONECARELIFE Insurance CODE OF PRACTICEWe have adopted the Life Insurance Code of Practice. The Code sets out the life Insurance industry s key commitments and obligations to customers on standards of practice, disclosure and principles of conduct for their life Insurance services, such as being open, fair and honest. It also sets out timeframes for insurers to respond to claims, complaints and requests for information. You can find details on the Code at the Financial Services Council website Code also contains minimum standard medical definitions for certain conditions. This means that where your Trauma Comprehensive or Premier Cover includes one of the conditions defined under the Code and you make a claim, we will assess your claim against the better of the following definitions:a. the applicable definition in our PDS linked to the full benefit amountb.

2 If different from a. above, the corresponding minimum standard medical definition in the Code that is current at the time of the insured minimum standard medical definitions provided under the Code only apply to the first $2 million of Trauma Comprehensive and Premier Covers where we issued your policy on or after 1 July 2017. They do not apply to any of the following:a. other benefits such as Trauma Cover either reinstated after a claim or where the amount payable varies according to the severity of the conditionb. to payments for benefits included with Income Secure Cover or Total and Permanent Disability (TPD) minimum standard medical definitions provided under the Code, as updated from time to time, can be found at ( ONECARE Life Insurance Code of Practice and minimum standard medical definitions under Product Disclosure Statement ). You can request a free paper copy of this information by contacting Customer Services on 133 DETAILS IN THIS PRODUCT DISCLOSURE STATEMENT (PDS)Name of legal entityRegistered numbersAbbreviated terms used throughout this PDSOnePath Life Limited ABN 33 009 657 176, AFSL 238341 OnePath Life, the Insurer, we, us, ourOnePath Custodians Pty LimitedABN 12 008 508 496, AFSL 238346, RSE L0000673 OnePath Custodians, the TrusteeRetirement Portfolio ServiceABN 61 808 189 263, RSE R1000986 FundHOW TO FIND YOUR WAY AROUND THIS PDSS ectionPageEntity details in this PDS2 Life Insurance Code of PracticeOnePath Life has adopted the Life Insurance Code of are ONECARE and ONECARE Super?

3 Who issues ONECARE and ONECARE Super? About OnePathThis section briefly describes the products and their PDSThis section explains the purpose of the PDS, and how we may update information it financial adviser is there to helpThis section explains the role of your financial words in this PDS have a special meaningThere are key terms used throughout this PDS you should broad range of Insurance CoverThis section summarises each of the types of Cover available under to apply This section explains the application duty to take reasonable care not to make a misrepresentationIt is important that you understand your duty to take reasonable care not to make a misrepresentation before you complete the Application PDS is a policy contractThis PDS contains the standard terms and conditions of ONECARE , contract between OnePath Life and the policy can change your mind during the cooling off periodThis section explains what happens if you change your mind about ONECARE or ONECARE can own your Cover?

4 This section explains the different ways your Cover can be owned by you, another person, a company or through Life rewards youWe offer a range of value-adding amounts you can insureThis section explains the minimum and maximum amounts you can apply for under each type of ONECARE on who can be a life insuredThis section sets out entry age and other eligibility conditions you should consider before applying for ONECARE or ONECARE will not pay a benefit in some circumstancesIt is important to understand the exclusions and restrictions that apply to your ways we can pay benefitsThis section explains your options for receiving benefits as a lump sum or by instalments over a period of to claimThis section introduces the claims process and explains the information you or those close to you will be asked to provide so we can assess a claim. 21 Life CoverOur Life Cover is designed to provide a benefit on death or terminal and Permanent Disability CoverTPD Cover is designed to provide financial support if an illness or injury stops you from returning to work or normal domestic CoverTrauma Cover pays a benefit that can help you pay out debt, and cover the costs of lifestyle changes and medical expenses following the diagnosis of a serious CoverChild Cover is designed with the whole family in mind.

5 It is a way of insuring children for various trauma events, such as cancer, terminal illness and Care CoverExtra Care Cover provides a way of topping up your ONECARE Cover with individual elements of Accidental Death Cover, Terminal illness Cover, and Extended needle stick Cover for medical features of lump sum CoversAs your life changes, your life Insurance may need to change with it. Your ONECARE policy includes many features that help ensure your Cover adapts to future Secure CoverThe ability to earn an income is an important asset. An injury or illness that prevents you from working can have a significant financial impact, both short term and long term. Income Secure Cover can replace up to 70% of your monthly income if you cannot work because of illness or injury. You can use this money to pay the bills and stay on top of day-to-day living expenses while you Expense CoverThis Cover is especially designed for business owners, sole traders and partnerships.

6 It pays a monthly benefit to help cover fixed business expenses if the life insured is totally or partially disabled, helping the business stay Expense CoverLiving Expense Cover is designed for people who are not eligible for Income Secure Cover. This is usually because they do not have an income, such as home-makers and retirees, or because they work part time or casually. This Cover pays an agreed monthly benefit if the life insured is significantly of trauma conditionsThis section sets out the specific definitions of the conditions we pay benefits for under Trauma Cover, the Severity Booster Option under Income Secure Cover and Child of special termsThis section sets out the definitions of terms used with a special meaning throughout this cost of the policyThis section explains the premium you will pay for terms of the policyThis section provides further terms and conditions of the ONECARE SuperThis section explains ONECARE Super and includes information about joining the Fund, making contributions or rolling over to the Fund, nominating beneficiaries, accessing your super benefits, and the tax consequences of holding your Cover through the Fund.

7 112 Key information you should knowTa xati o nThis section provides general information about the tax consequences of and ComplaintsThe section explains how to raise concerns, including through the complaint handling mechanism external to of insuranceThere are some risks you should consider alongside the benefits when making a decision about ONECARE and ONECARE 2 Interim CoverThis section explains the cover we may provide while assessing your application for 2 Privacy StatementThe Privacy Statements explain how OnePath Life and OnePath Custodians collect, use and share your personal information (including health and other sensitive information), and how we manage your consent to receive marketing 5 Direct Debit Request Service AgreementThis section explains the terms of our agreement with you if you choose to pay premiums by direct 5 About the applicationThis section provides further information about the application ARE ONECARE AND ONECARE SUPER?

8 ONECARE is an Insurance product offering various lump sum and monthly benefits. It offers Life Cover, Total and Permanent Disablement (TPD) Cover, Trauma Cover, Child Cover, Extra Care Cover, Income Secure Cover, Business Expense Cover and Living Expense Cover. ONECARE Insurance can be purchased through super (via an external master trust, self-managed super fund (SMSF) or small APRA fund) or outside Super is an Insurance -only superannuation product for those customers who wish to have ONECARE Insurance Cover through super in the Retirement Portfolio Service (Fund) ABN 61 808 189 263 RSE document explains the terms, conditions and features of both these ISSUES ONECARE AND ONECARE SUPER? OnePath Life issues ONECARE . This includes ONECARE External Master Trust and ONECARE Custodians issues ONECARE Super. ONECARE Super is a superannuation product issued by OnePath Custodians, as trustee of the Fund.

9 OnePath Life is the insurer for ONECARE Super. When you join ONECARE Super, OnePath Custodians contracts with OnePath Life to provide the insured benefits. OnePath Custodians has appointed OnePath Life to act as administrator of ONECARE Life and OnePath Custodians are the issuers of this PDS. Both OnePath Life and OnePath Custodians are responsible for the contents of this PDS. However, an issuer is not responsible for the products issued by the other issuer. OnePath Life is a company within the Zurich Financial Services Australia Group. OnePath Custodians is a company within the IOOF Group of companies, comprising IOOF Holdings Limited ABN 49 100 103 722 and its related bodies corporate (IOOF Group). OnePath Life and OnePath Custodians are not related bodies Life and OnePath Custodians will collect, use, store and disclose your personal information in accordance with the Privacy policy available at for OnePath Life and for OnePath Custodians.

10 You may also request a free copy of the Privacy Policies by contacting Customer Services on 133 ONEPATHOnePath is a leading provider of Insurance , superannuation and investment solutions, with a heritage of more than 140 years in helping Australians to grow and protect their life Insurance solutions are provided by OnePath Life Limited, a company within the Zurich Financial Services Australia more than 50,000 people worldwide, the Zurich Insurance Group operates in over 210 markets as an Insurance specialist and is committed to placing customer needs at the heart of their superannuation solutions are provided by OnePath Custodians, which is part of the IOOF Group. IOOF is one of Australia s largest wealth management groups in Australia and a leading provider of financial advice, investment, superannuation and private trustee 175 years experience in helping Australians secure their financial future, today IOOF is an ASX listed top 200 company (ASX code: IFL) with million clients and $453 billion in funds under management, administration and advice (as at 30 June 2021).