Business Expenses Insurance

Business Expenses Insurance

Receive a monthly payment in case you can't work due to sickness or injury, to help cover the fixed running costs of your business.
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Customers rate us 4.6
Based on 381 Service Ratings over the past year
Customers rate us 4.6

Some key features of Business Expenses Insurance

Up to $25,000 cover, paid monthly

NobleOak will pay the agreed monthly benefit, up to $25,000.

Dedicated claims support

A dedicated claims consultant that will support you throughout the process.

Award winning Life Insurance

Our vision is to better protect Australian's and their families, by providing more affordable, fully underwritten Life Insurance.

Protecting Australians for over 140 years

One of Australia's longest standing Life Insurers with a heritage dating back over 140 years.

How much cover can I apply for?

Self employed Australian residents between the ages of 21 and 59 can apply for cover for the fixed costs of running their business, up to $25,000.

Maximum Cover Level


Maximum Entry Age

59 years old

Guaranteed Renewable Age

65 years old

Benefit Period

12 months

What does a Business Expenses Insurance cover provide?

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

The 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.

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.

Business Expenses insurance provides a:

  • Waiting Period of 30 days, and
  • Benefit Period of 12 months.

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 your Business Income
  • not working (whether paid or unpaid), and
  • following the advice of a Medical Practitioner.

You select your Monthly Benefit at time of application, up to a maximum of $25,000 per month. In determining the maximum Monthly Benefit that will be accepted, we will consider the benefits payable under any other Income Protection or Business Expenses Insurance policy (in force or proposed) in your name.

If you do not disclose any such benefits when you apply for Premium Life Direct, we may reduce the amount of the claim amount otherwise payable if a claim occurs. The amount you receive will be the lesser of:

  • the Monthly Benefit, and
  • one twelfth (1/12) of the Allowable Business Expenses actually incurred in the 12 months immediately preceding the Total Disability, reduced by any Business Expense Claim Offsets.

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 your Total Disability and which continue during that Partial Disablement, reduced by:
    • any amounts that are reimbursed or received from elsewhere in respect of your disablement
    • your share of the gross Business Income of the business for that period, and
    • any Business Expense Claim Offsets.

We will determine your share of the Allowable Business Expenses actually incurred, or share of gross Business Income, in line with the usual manner of apportioning profits and/or losses of the business between yours and any co-owners of the business.

When you are Partially Disabled and not working, we will determine the gross Business Income for you. We will consider the opinion of your Medical Practitioner and any Medical Practitioners we have nominated.

If you remain Totally Disabled at the end of the Benefit Period, and the total benefit paid is less than 12 times the insured Monthly Benefit, we will continue to pay the benefit until the earliest of:

  • a total payment equivalent to 12 times the Insured Monthly Benefit has been paid
  • a further 12 months have expired, and
  • you cease to be Totally Disabled.

If you are receiving a Monthly Benefit, we will waive the premiums for the period the claim payments relate to.

Policies, terms and conditions vary between Insurance Providers, so it’s always advised to read the Product Disclosure Statement (PDS) and compare covers before you apply for Business Expenses Insurance.

Download the Product Disclosure Statement (PDS)

Why choose NobleOak Life Insurance?

While we are very proud of the cover we provide, a simple belief in 'doing the right thing' sets us apart.

Low premiums

At NobleOak, you buy directly from us,
so you don't pay for the cost of advice
or for unnecessary overheads.

Fully underwritten insurance

We only offer fully underwritten Life
Insurance, tailored by you. This minimises
the risk of unforeseen delays or surprises
in the event of a claim.

Simple & straightforward

We aim to avoid overly complex terms.
We simply provide great value,
comprehensive Life Insurance.

Award winning

We are the only Life Insurer to win the Canstar Outstanding Value Award for Direct Life Insurance in five consecutive years from 2016 to 2020.

Australia's most awarded Direct Life Insurer 2020

Our outstanding value products and personal service has resulted in us being the most awarded Direct Life Insurer in 2020.
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Other NobleOak products to consider

Life Insurance

Protect your family against unforeseeable financial burden if you were to pass away unexpectedly, by providing them with a lump sum payment.

Total and Permanent Disablement (TPD) Insurance

Receive a lump sum payment if you become permanently disabled as the result of a sickness or injury and are unable to return to work.

Trauma Insurance

Receive a lump sum payment to assist with your recovery if you are diagnosed with one of 38 serious medical conditions listed within our PDS.

Tools and guides

Find out how much Life Insurance and Income Protection cover you may need.

Life Insurance Calculator

Calculate how much cover you may need to protect you and your family.

Life Insurance Guides

Explore information about the value of Life Insurance for key life stages from starting out as a young adult, to downsizing and retiring.

Help protect your family with
NobleOak, Australia's most awarded
Direct Life Insurer 2020

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