PathWay. Be proactive about your health. Do your adult children have a back-up plan (other than you)?

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1 Insurance PathWay November 2012 Be proactive about your health Why OnePath Life is your trusted insurance provider Do your adult children have a back-up plan (other than you)?

2 PathWay In this issue Page Sarah s welcome 3 Why OnePath Life is your trusted insurance provider 4-5 Win! Win! Win! 6 Last issue s winners 7 Men s and women s health why it pays to be proactive 8-9 How to make fitness part of your daily lifestyle Do your adult children have a back-up plan (other than you)? We ve got your changing lifestyle covered 14 MyWord let us know what you think Back cover We re here to help: Phone: Online: onepath.co.nz/insurance insurance@onepath.co.nz Important notice This magazine is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. 2

3 Sarah s welcome Sarah joined the OnePath Life team in October bringing over 20 years of insurance experience, including seven years in OnePath Management. Sarah s knowledge and understanding of the OnePath business and our customers means she is perfectly positioned to ensure we continue to help you protect the things you value most. I am very excited to be working with the OnePath Life team and, through PathWay, I look forward to sharing all of our achievements, new initiatives, interesting articles and tips that will help you to get the most from your OnePath Life insurance policy. In this issue of PathWay we are delighted to share with you our latest news that we are sure will add to your confidence in choosing OnePath Life as your trusted insurer. In late September OnePath Life acquired an insurer financial strength rating of AA- (very strong) from independent rating services organisation Standard & Poor s (Australia) Pty Limited 1. This means that OnePath Life has a very strong ability to pay claims, and reinforces our message that we will be here for you if you ever need us. I encourage you to read pages 4 and 5 to find out more about what this means for you. We all know that it s important to stay fit and healthy no matter how busy life gets, and that s why we encourage our staff to exercise regularly by providing different on-site fitness classes. If you need encouragement see our tips on pages 10 and 11 to help you to fit exercise into your busy lifestyle. We re also giving away 12 Rebel Sport vouchers, valued at $200 each, to help you get the gear you need to make it happen. See page 6 for more information and to enter the competition. Check out our thought-provoking article on pages 12 and 13 to see whether you need to talk to your adult children about insurance and why it s a good idea to do this. Also, November is an important month for both men s and women s health, so read on to find out why and to learn some interesting facts about how we ve helped our customers in their time of need. If you have any questions about your insurance we encourage you to talk to your adviser, or you can call us anytime Monday to Friday (8.30am -5.00pm) to talk to our team. You can reach us on We re here to help. Have a safe, enjoyable and healthy summer. 1 A summary of Standard and Poor s rating scale is on page 4. 3

4 PathWay Why OnePath Life is your trusted insurance provider OnePath Life s new insurer financial strength rating means we ll be here when you need us most at claim time. It s our job to provide you with the insurance cover you need to protect your life and your lifestyle, and to be there for you if you ever need us. With our recently acquired insurer financial strength rating from independent rating services organisation Standard & Poor s (Australia) Pty Limited, you can feel even more confident with your decision to choose OnePath Life as your trusted insurer. 4 What is OnePath Life s insurer financial strength rating? OnePath Life has an AA- (very strong) Insurer Financial Strength Rating from Standard & Poor s (Australia) Pty Limited. This means that OnePath Life has a very strong ability to pay out claims. Standard & Poor s rating scale is: AAA Extremely strong AA Very strong A Strong BBB Good BB Marginal B Weak CCC Very weak CC Extremely weak R Regulatory action Ratings from AA to CC can be modified by the addition of a plus or minus sign to show relative standing within the major rating categories. What is the purpose of an insurer s financial strength rating? The purpose of the rating is to provide a means of enabling the public to distinguish between higher and lower risk insurance companies so that they are able to make more informed decisions when choosing their insurer. It is common all around the world for insurance companies, banks and other companies in the financial services industry to have such a rating. Why is it important to know about an insurance company s financial strength? There are many factors involved in choosing an insurance provider. For example, does the product meet my needs? Is it good value for money? Ultimately, the real value and benefit of insurance is demonstrated if and when you need to claim. For longer-term insurance, such as life insurance, that time could come next week, in five years or in 20 years. Having a financially strong insurer gives you peace of mind knowing that both your short-term and your long-term insurance needs can be met.

5 For more information about our financial strength rating you can visit our website onepath.co.nz/insurance. Our financial strength is just one of the great reasons why you can trust OnePath Life as your insurance provider. Here are some more good reasons why you can have peace of mind as a OnePath Life customer. Our claims philosophy puts you first We ve been paying claims for over ten years and throughout this time we have remained committed to our philosophy to do what s right for our customers every time. That means we look for ways to pay claims not how to get out of paying claims. In 2011 OnePath Life paid over $34 million in claims. Experience and expertise OnePath Life is one of New Zealand s leading insurance providers. Owned by ANZ New Zealand, part of the Australia and New Zealand Banking Group, we have access to strong expertise in technology, governance and training & development to support us and, more importantly, our customers. A unique service that sets us apart from the rest We provide additional services that can help prevent minor problems from becoming major ones. OnePath Life s Client Membership Benefits service is independent, free of charge and includes: Budgeting advice Career counselling General counselling and more. This service has allowed many of our customers to solve problems in their lives and find greater health and happiness as a result. That s something we re really proud of. That s a lot of people who placed their trust in us; and we were there for them when they needed us most. OnePath insurance solutions include: Personal insurance such as life cover and income protection Business insurance covering director protection, loan repayment protection and key person protection Medical insurance such as cover for major medical expenses and specialist costs. Talk to your adviser today if you have any questions about your insurance cover, or if you want to find out about the different insurance solutions OnePath Life offers. Or, you can call us on

6 PathWay Win! Win! Win! To get in shape for summer and make fitness part of your daily lifestyle we recommend you try Sally Feinerman s tips on pages 10 and 11. Of course it also helps if you have the right gear, so in this issue of PathWay we are giving away a $200 Rebel Sport voucher to 12 lucky winners. To enter, all you have to do is complete the MyWord form at the back of this magazine and return it to us by 5pm Friday, 14 December * Terms and conditions apply; see below. 6 Terms and conditions The prize is not transferable or redeemable for cash. If for any reason the prize/s become unavailable, OnePath Life (NZ) Limited ( OnePath ) may substitute an alternative equivalent prize/s without notice. Entries are limited to one entry per person. The first 12 entries drawn that comply with the eligibility requirements will win the prizes. Staff, their immediate families and agents of OnePath are not eligible to enter the competition. OnePath s decision shall be final and no correspondence will be entered into. The information that you provide to enter this competition will be held by OnePath and will be used for the purposes of administering the competition. You have the right to access and request correction of this information. To the extent permitted by law, OnePath Life (NZ) Limited and its related companies will not be liable for any costs, expenses, damage or injury which any participant in the prize draw may suffer or incur.

7 Last issue s winners In the last issue of PathWay we gave away 20 annual subscriptions to the Healthy Food Guide magazine. We received some fantastic feedback and, as always, we encourage you to tell us what you think about our service and your OnePath Life insurance policy. Here s some feedback from our latest winners: Candace Lorcet: I found the article about John Brown - a real life story (May 2012 issue) really interesting and eye-opening. After we chose our insurance package, I haven t thought much about it since. This story reminded me how financially scary an illness can be and made me go back and review our policy. Thank you for an informative magazine. Cyrus Khambatta: My family has been a loyal customer for many years. I am very happy with the services provided by OnePath as well as my adviser. I could not ask for more. Thank you very much. Mary Dekker: I am impressed with the stress-free service we have received at OnePath. When you are in the middle of a stressful situation you need your insurance provider to make it all run as smooth as possible and that s what OnePath did. 7

8 PathWay Men s and women s health why it pays to be proactive October and November are important months for men s and women s health. Breast Cancer TAKE ACTION month If you happened to notice an abundance of pink last month, there was a good reason for this it was Breast Cancer Take Action month. This gave us a great excuse to dress up in all things pink for a worthy cause to increase breast cancer awareness and raise funds for the New Zealand Breast Cancer Foundation (NZBCF). The NZBCF encourages women to be proactive and make breast cancer awareness part of their life. The Foundation recommends all women follow three Priorities in Breast Awareness : 1. Have a regular screening mammogram 2. Know your breasts 3. Talk to your family doctor. For more information about breast cancer and Take Action Month visit New Zealand women have a 1 in 9 chance of developing breast cancer during their lifetime * Movember During November each year, Movember is responsible for the sprouting of moustaches on thousands of men s faces in New Zealand and around the world. The aim of this is to raise vital funds and awareness for men s health, specifically prostate cancer and depression in men. The reasons behind the current state of men s health are numerous and complex, but it appears the biggest issue is the Kiwi bloke she ll be right attitude. Rather than visiting a health professional, too many men choose to ignore a health issue and sadly, sometimes they leave it until it s too late. Movember wants men to take responsibility for their health, prevent illness by leading a healthy lifestyle and understand the symptoms and signs in both themselves and others so they can appreciate when and how to seek help if needed. For more information about Movember and men s health visit 1 in 10 NZ men will get prostate cancer in their lifetime ** 8

9 Insurance is another way you can be proactive about your health Being proactive about your health isn t just about staying healthy and having regular check-ups. Unfortunately illnesses such as breast or prostate cancer can strike anyone at any age, regardless of their lifestyle and when it does, it pays to be protected. Having the right insurance in place means that you will have funds available to make the best choices for your health if the unexpected happens. If you already have Major Medical Cover or Trauma Cover with OnePath, read on to find out how these benefits will work for you in your time of need. Major Medical Cover provides funds for access to a private hospital and the treatment you need. It allows you to bypass the public hospital waiting list and it covers the cost of expensive surgery and treatments like prostate removal, mastectomy and reconstruction and radiation therapy. Trauma Cover pays a lump sum in the event of a trauma condition such as cancer, heart attack or stroke. It also includes special cover for low-grade gender-specific cancers like breast and prostate cancer. You decide how you spend the lump sum payment whether it is to cover medical costs and treatment, subsidise a lost income, pay for alterations, rehabilitation and home help, paying off the mortgage or going on a holiday. Here s how Major Medical Cover and Trauma Cover have helped two of our customers recently: Female aged 37 Diagnosis: Breast cancer Major Medical covered: Specialist $4,117 Radiology $3,021 Surgeon $42,900 Hospital $42,747 Anaesthetist $12,369 Radiation Therapy $33,015 Male aged 60 Diagnosis: Prostate cancer Major Medical covered: Specialist $607 Biopsy $795 Oncologist $490 Brachytherapy $26,509 Total claim paid $28,401 Trauma Cover paid: Lump sum $26,748 Total claim paid $164,917 * New Zealand Breast Cancer Foundation, April 2011 ** Movember New Zealand Men s Health,

10 PathWay How to make fitness part of your daily lifestyle With summer fast approaching, many of us will now be thinking about getting in shape after a long winter (and in the hope of a better summer than last year!). But after a busy day juggling multiple responsibilities, it s hard to fit in exercise and quite frankly it s often the last thing we feel like doing. 10 So, we asked fitness expert Sally Feinerman to give us her top three tips to make it easier for you to incorporate fitness into your daily lifestyle. Tip 1. Make incidental exercise count Even if you do manage to fit exercise into your life it s still really important to lead an overall active lifestyle. I refer to this as incidental exercise and there are a number of ways it can be added in to your day on autopilot e.g. gardening, housework, walking to the shops, to name a few. By adding short bursts of incidental exercise into your day you will end up feeling fitter, stronger, and full of energy, plus you will burn more calories which will help you control your weight. Tip 2. Strength train once per week Traditional strength programmes are not based on individual lifestyle requirements so they set up the average person to fail. Rather than asking how long do I have to train let s ask how little do I need to train to achieve my results? Why strength train once per week? Everyone has time to train once a week You can train harder when the emphasis is on quality and not quantity It is easier to keep motivated and you can reach your goal easily as you are more likely to stick to the programme You have less chance of getting bored. Misconception: You have to work out hard every day to see any difference. The truth: Since your muscle tone is enhanced through the healing process after strength training, you only need to work the muscles hard once a week for half an hour to see results. Your body needs time to recover and rest after a hard workout, but you will see your flabby body turn firmer and more contoured over a period of time.

11 Tip minutes of exercise per day 30 minutes of high intensity exercise can give you the same results in terms of fat loss as working out for 1 hour at a moderate pace. Start circuit training and reap the time-saving benefits of combining your strength training with huffy puffy exercise to jump-start your metabolism. Strength train 30 minutes once per week and build muscle so that you turn your body into a fat-burning machine. Short and sweet and you will actually do it. Let s face it, a 30-minute circuit class is over quickly, is brief and when done with intensity will get great results. Aim to add cardio into your day 4-5 times per week and strength train once per week. Write down 10 ways that you can start adding incidental exercise into your day. Then record your exercise each day for the next 30 days. Did you know that Coronary heart disease kills almost four times as many women as breast cancer? 3 Women need to be as vigilant about the health of their hearts as they are about their breasts. Sally Feinerman is the director of successful training studio, Fitness Fix. She provides women who previously lacked motivation, support or courage to fit fitness into their lives with an opportunity to achieve amazing results in a way that is easy and effective. You can learn more about Sally and what she offers at Sally s inspirational personal story If you currently maintain a healthy lifestyle then give yourself a pat on the back! Healthy people are at less risk of illness such as cancer and heart disease. But that doesn t mean you re immune Sally Feinerman is a testament to this. During the 2011 Auckland Half Marathon Sally collapsed and shattered her hopes of gaining a qualifying time for the New York Marathon. She was admitted to hospital and diagnosed with a heart block, subsequently requiring a pacemaker. However, earlier this year Sally received some exciting news. She had won an entry to the New York Marathon through the non-guaranteed entry process (an 8% chance of selection) and she is now back on track to achieving her dream of running in this month s race. We wish Sally the best of luck! 3 New Zealand Heart Foundation,

12 PathWay Do your adult children have a back-up plan (other than you)? Picture this: You re aged 60 and semi-retired Regular contributions to your retirement scheme over the years will soon pay off and you re feeling quietly confident that in five years you ll be ready to retire completely. You ve worked hard during your long career; you ve paid off your mortgage and made every effort to generate a good level of savings along the way. A comfortable retirement has been well-earned. Now imagine your 35-year-old daughter, a single mother of two, comes over to tell you she s been diagnosed with breast cancer. After talking more about it, you discover she doesn t have any trauma cover. Or income protection. And she forgot to renew her private health insurance. So much for a comfortable retirement! With all the focus on saving and preparing for your twilight years, it s easy to forget about one of the biggest potential financial hazards any pre-retiree can face your own children. It s a natural instinct for a parent to do whatever it takes to help their children when they need you. And luckily for the baby boomer generation, and their children, many have the financial resources to help out. But what if helping out meant you had to stay in the workforce longer, or cut back on your retirement lifestyle to help fund your child s mortgage, medical expenses or living costs? Or what if you had to provide for your grandchildren? What would that mean for your own financial situation both now and in the future? In 2009 Inland Revenue came up with a round figure for raising a child until the age of 18 of $250,000, or about $14,000 per year 2 2 Sorted.co.nz 12

13 Do your children have it covered? Generations X and Y are comfortable with the idea of using debt to achieve their goals. And to get into the housing market, they often have to take on a considerable mortgage, which can take a decent bite out of their income. Of course, all of this is sustainable when they re working full-time. But if your children don t have adequate protection for their income, their debts, and their dependants, they could be vulnerable to serious illness or injury. Their own families (if they have one) can also be considerably exposed if they die. Help your children help themselves talk to them about life and lifestyle insurance Many adult children will discuss their major financial decisions with their parents. Major events like getting married, buying a house, or even changing jobs are good opportunities to talk to your children about life and lifestyle insurance. One of the good things about taking out life insurance from a younger age is that premiums are often very affordable. The best way to help your children get the right level of protection for themselves (and you) is to encourage them to discuss their life insurance circumstances with a financial adviser. 13

14 ClubRoom PathWay We ve got your changing lifestyle covered So much can happen in a year and often it s hard to keep track of everything especially things like insurance. Did you know? OnePath makes it easy to keep your insurance up to date with your changing lifestyle, regardless of any changes to your health. Your policy includes a built-in Lifestyle Events Benefit which allows you to increase your cover by up to $250,000 without the need for further underwriting if one of the listed events happens. Events include: Marriage or civil union Divorce or legal separation Full-time care of a dependent relative Birth or legal adoption of a child Purchasing a new home, residential investment property or land, or holiday home It s easy to apply It s quick and easy to increase your cover under this benefit because you don t have to provide any medical information, which can be a time-consuming process. Furthermore, if you ve had a health event since your policy started then this is a golden opportunity to increase your cover without being penalised in any way. Just bear in mind, you need to apply for this benefit within 180 days of the relevant life event occurring. Talk to your adviser if you ve recently experienced a life event or if you have any questions about our Lifestyle Events Benefit. Or, you can call us on The commencement of full-time tertiary education by a dependent child. 14

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16 MyWord Let us know what you think We d like to know whether we are delivering what you really want in the areas of product features and benefits, customer service and information. Name: Policy number: Postal address: Contact number: Adviser name: address: Please tick this box as consent for your MyWord comments to appear in the competition section of the next edition of PathWay, should you be one of the lucky winners. If you ve got something to tell us, good or bad, please complete the form above and return it to us freepost. Alternatively, us at insurance@onepath.co.nz or give us a call on OnePath Life (NZ) Limited 205 Wairau Road, Glenfield, Auckland 0627 Private Bag 92131, Victoria Street West, Auckland 1142 Toll Free T F onepath.co.nz