Business Expenses

Discover a smarter way to insure your
business overheads with NobleOak’s
Business Expenses Insurance.

Limited time offer,  get your first month FREE*.

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Maximum Monthly Benefit

$25,000

NobleOak’s Premium Life Direct product includes Business Expenses cover where self-employed clients can insure the fixed costs of running their business up to a maximum of $25,000 per month. In the event you suffer a serious illness or injury and are unable to work NobleOak will pay you your nominated monthly benefit to cover these ongoing business costs.

Benefit
Period

12 Months

Under NobleOak’s Business Expenses Insurance, you are covered for a period of 12 months. If at the end of this 12 month period the total benefit paid is less than 12 times the insured monthly benefits, we can extend the payment period (refer to the PDS for full details).

The Benefit Period begins at the end of the waiting period and continues for the duration you remain unable to work. Benefits are then paid monthly in arrears so your first payment will generally occur 2 months after your Sickness or Injury commenced.

Waiting
Period

30 Days

With NobleOak’s Business Expenses cover the waiting period is fixed at 30 days.

Maximum
Entry Age

59

To be eligible to apply for Business Expenses cover with NobleOak, you must be an Australian resident and aged between 21 and 59. Our Business Expenses cover is priced using stepped premiums which means your premiums will increase each year in line with your age and CPI (where your monthly benefits are indexed to keep pace with inflation).

Guaranteed Renewable Age

65

Provided you pay your premiums as they fall due, NobleOak guarantees to renew your Business Expenses cover each year up to the age of 65. Your Business Expenses cover will not be cancelled, nor will your premiums be increased due to any future change in your state of health, lifestyle, occupation or pastimes.

NobleOak’s Premium Life Direct product includes Business Expenses cover where self-employed clients can insure the fixed costs of running their business up to a maximum of $25,000 per month. In the event you suffer a serious illness or injury and are unable to work NobleOak will pay you your nominated monthly benefit to cover these ongoing business costs.

Smarter Business Insurance

With award-winning cover, personal service, and lower premiums NobleOak really is the smarter way to protect your business.

Business Expenses Insurance Features

Dedicated Claims Support

If you or your family need to make a claim you’ll be assigned a dedicated claims consultant based here in Australia. This consultant will support you throughout the claim process.

Cover with Global Backing

NobleOak’s products are backed by Hannover Life Re who is a leading global reinsurer. We’re also here for the long term with a proud history dating back over 140 years.

ASIC & APRA Regulated

NobleOak Life Limited, and our Business Expenses Insurance cover, is regulated by ASIC and APRA in accordance with section 16C of the Life Insurance Act.

Total Disablement Benefit

If you become Totally Disabled, you will receive a Monthly Benefit payment to help cover the costs of your ongoing business expenses while you’re not working.

These Monthly Benefit payments commence after the Waiting Period has expired and continue for the duration of your Total Disablement to a maximum of the Benefit Period. If at the end of these 12 months the total benefit paid is less than 12 times the insured monthly benefits, we can extend the payment period (refer to the PDS for full details).

Your payments are calculated on a daily basis and payable monthly in arrears, so your first payment will generally occur 2 months after your Sickness or Injury commenced.

Totally Disabled / Total Disablement means due to Sickness or Injury occurring while covered for Business Expenses insurance, you are:

  • Unable to perform one or more duties of your occupation that is important or essential in producing Income
  • Not working (whether paid or unpaid), and
  • Following the advice of a Medical Practitioner.

You can select your Monthly Benefit at the time of application, up to a maximum of $25,000 per month. In determining the Business Expenses cover allowable, we will need you to complete the schedule in the application detailing all your fixed and ongoing expenses. These include rental of business premises, electricity, rates, motor vehicle costs and also the salaries of any non-income producing staff, to name a few.

In the event of a claim, the monthly payment you receive will be based on the expenses actually incurred in the 12 months immediately preceding  the date of Total Disability.

Partial Disablement Benefit

Business Expense Insurance can also pay a reduced benefit if you return to work in a reduced capacity. The Partial Disablement Benefit becomes payable providing you have been Totally Disabled for at least 14 days and remain Totally Disabled or Partially Disabled beyond the expiry of the Waiting Period.

Partially Disabled / Partial Disablement means that due to your Sickness or Injury:

  • you are unable to perform one or more duties of your usual occupation, and
  • your monthly Business Income is less than your Pre-disablement Business Income, and
  • you are following the advice of a Medical Practitioner.

The benefit payable will be proportionate to the loss of Business Income sustained. The benefit will be paid on a daily basis and paid monthly in arrears. This amount will be the lesser of:

  • the Monthly Benefit, and
  • 1/12 of the Allowable Business Expenses

actually incurred by you in the operation of your profession, business or occupation during the 12 months immediately preceding the date of your Total Disability and which continue during the period of Partial Disablement until return to full work duties.

See the PDS for full details of definitions, terms and calculations.

Here's What Our Clients Have To Say

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Was a quick and easy process. Price is a lot cheaper than other providers.
Margaret C
, NT
31 July 2018
Very professional, helpful and friendly service. My new life insurance policy was processed efficiently and I was contacted during each step of the process.
Susan C
, WA
26 July 2018
Fantastic customer service and the explanation of the product was clear and concise. Value for money.
Adrian T
, NSW
26 July 2018
They are good service, picked up my calling quickly and patient, and cheaper than other company.
Jasmine M
, NSW
19 July 2018
Great service. All my questions were answered promptly and he explained the product in an easy to understand way. I'm very happy with my life insurance purchase.
Carolyn C
, NSW
18 July 2018
Very professional and very clear explaining the policy. Staff are very polite. It was a real pleasure to work out a policy with them.
Michelle L
, NSW
17 July 2018
Mark was very professional and thorough. The end result was an excellent deal for my Life Insurance. I would highly recommend Noble Oak.
Peter C
, VIC
16 July 2018
They were very friendly and had good knowledge of their services that they are providing.
Vidhee P
, VIC
2 July 2018
Quick and easy! Professional, knowledgeable, helpful and friendly staff member. All questions answered and I was not left in doubt.
Rosemary S
, WA
30 June 2018
Very personable staff and dealing with the same people throughout the process. They all communicated clearly and regularly. Advice was always accurate.
Paul H
, WA
22 June 2018
Excellent, professional service. Proactive, efficient and a pleasure to deal with.
Goran A
, ACT
19 June 2018
The process was seamless from end-to-end. I saved a lot on my premiums and will be recommending to friends and family.
Sebastian P
, NSW
12 June 2018
I would like to thank your staff that dealt with me, they were knowledgeable, friendly, patient and helpful and were easy to understand. Great service.
Joseph B
, NSW
12 June 2018
Actually consider a case on it's merits instead of a blanket 'no'. Also very affordable.
Joanne P
, WA
12 June 2018
Good, clear information from friendly people at the other end of the line.
Osvaldo M
, QLD
7 June 2018
Excellent service, excellent client value awareness, very thorough, affordability is unmatched.
Richard O
, QLD
7 June 2018
The service and friendly staff made this whole experience pleasurable. The policy seems to have all I needed included. Thank you again for all your help.
Gail H
, QLD
3 June 2018
Very customer focused and clarifying questions along the way. I switched and saved quite an amount.
Sanjay B
, NSW
3 June 2018
I would like to recommend NobleOak for a professional, knowledgeable, personalised and friendly approach. The premium is very competitive in comparison to other companies for the same product.
Grace S
, VIC
1 June 2018
Friendly personnel, the questions were quick and without fixed answers that didn’t match my circumstances. The fact that all the documents were emailed to me immediately to review before I decided to go ahead was fantastic.
Lynda A
, QLD
20 May 2018

How to Apply

Life Insurance Quotes
  • Get a Quote

    One of our friendly insurance specialists will help you complete your Business Expenses Insurance quote over the phone or online.

  • Apply

    If you’re happy with the quote, you can apply immediately for cover either over the phone or book a time for a call back.

  • Get covered

    We”ll assess your application. If you require medical tests we’ll pay for them and keep you updated on your progress.

Business Insurance Simplified

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Frequently Asked Questions

What is Business Expenses Insurance?

If you are self-employed and run your own business, Business Expenses Insurance may be suitable for you. You can choose cover up to $25,000 per month which will help cover the fixed running costs of your business if you are unable to work due to sickness or injury.

For example, Kevin is running a thriving plumbing business when he has to undergo a kidney transplant. He may have Income Protection Insurance that will cover his personal income while he cannot work, but how can he ensure that he has a business to return to when he’s back on his feet? The business’s fixed costs include rent of his workshop premises, utility bills, truck leases, and the wages of his apprentice and his receptionist. Fortunately, Kevin has also taken NobleOak Business Expenses Insurance, so after the waiting period of 30 days he will be eligible to receive additional monthly benefits that cover these ongoing fixed costs. This allows him time to focus on his recuperation without financial stress or the fear of losing his business and his valued employees.

 

What does Business Expenses Insurance cover?

Business Expenses Insurance helps you cover the fixed running costs of your business if you are disabled due to a Sickness or Injury. Allowable business expenses include:

  • Premises expenses: Office/warehouse rent, rates/taxes, security costs, cleaning, insurance, mortgage repayments, repairs and maintenance.
  • Utilities: Electricity, telephone, internet, postage, couriers, water and sewerage.
  • Motor vehicle leasing, depreciation, insurance, registration, repairs and maintenance.
  • Salaries of employees who do not generate income, for example a receptionist and administration staff, together with their payroll tax and superannuation.

Other eligible expenses include accounting and auditing fees, business insurances, professional membership fees and regular advertising costs.

 

*Terms & Conditions

View T&Cs

First Month Free Offer

The first month free offer if you apply for cover before 31 October 2018. If you apply for cover before 31 October 2018, you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer.

Product PDS

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First Month Free Offer

The first month free offer if you apply for cover before 31 October 2018. If you apply for cover before 31 October 2018, you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer.