Compare Life Insurance

NobleOak comes highly recommended
by leading independent researchers.

Choosing the right Life Insurance can be challenging due to the numerous options available.

But doing some basic research using independent resources is a good place to start.

Canstar and Strategic Insight are two popular independent sources of comparison information. We’ve provided a summary of their findings on how NobleOak compares below:

Canstar research

Canstar has a team of people who collect, analyse and research information on over 16,000 products, including Life Insurance.

Their star ratings system is designed to help consumers increase their chances of finding the right product based on the best mix of features and price.

According to Canstar, “5 star products should be on your shopping list. As a consumer, this represents a high-value product. According to our ratings, these are the top 10% of products in their field.” (Canstar website 2017).

Recognition from Canstar

NobleOak’s Premium Life Direct product was awarded the Canstar 5 Star product rating for both our direct Life and Income Protection covers. In 2017 NobleOak was the only Life insurer to win both awards.

 

                                       

 

 

Strategic Insight research

Strategic Insight Actuaries and Researchers is the leading independent supplier of market information regarding Australian Life Insurance and managed funds.

Strategic Insight designed the following matrix, which is a handy tools to reference when comparing Life Insurance products

Life Insurance Comparator

Life Insurance cover provided through NobleOak’s Premium Life Direct has been independently reviewed by Strategic Insight.

The matrix above is an extract from the Strategic Insight Direct Insurance Report 2016©. It clearly illustrates that NobleOak’s Life Cover is a market leader with respect to price and features when compared to other Life Insurance available directly.

How our premiums compare

NobleOak offers the same comprehensive level of cover you would normally
expect from a financial adviser or broker, at a lower cost.

Our competitive Life Insurance premiums are on average, 20%* lower than other major insurers when purchased through an adviser or directly through that insurer.

Notes for the comparisons below:

  • ‘Direct’ refers to Life Insurance products available directly from an insurer, or a third party that does not provide financial advice.
  • ‘Advised’ refers to Life Insurance products available through a financial planner/adviser or broker, with the inclusion of financial advice.

 

NobleOak vs Direct life insurers: Average saving 45%*

The table below illustrates how NobleOak’s Life Insurance premium rates compare to a large sample of leading direct Life Insurance products. This shows NobleOak’s Premium Life Direct premiums are on average 45%* less than other products compared.

Quotes shown are monthly premiums based on non-smokers with $500,000 of Life Cover and based on recently published insurance premium rates.

NobleOak Life Insurance premiums compared to other Direct Life Insurance premiums

 

NobleOak vs Advised: Average saving 12%*

The table below illustrates how NobleOak’s Life Insurance premium rates compare to a large sample of leading advised Life Insurance products. This shows NobleOak’s Premium Life Direct premiums are on average 12%* less than other products compared.

Quotes shown are annual premiums based on non-smokers with $500,000 of Life Cover.

NobleOak Life Insurance premiums compared to other Advised Life Insurance premiums

What to look for when comparing Life Insurance products

Premium

This is most often a key determinant as nobody wants to pay more than they have to. Bear in mind that even if the price looks right, if the product does not suit your needs or provide certainty of cover at claim time, then it may not be suitable for you.

If you are eligible for the cover

Although this won’t be an issue for most applicants, if you are above (or perhaps below) the eligible age limits or you have a particular health issue, then the cover may not be available in the first instance.

How much you can actually cover yourself for

Some Life insurers may only provide maximum cover up to $100,000 while others will provide an unlimited amount (subject to medical and financial requirements).

Factors which might prevent a claim being paid

Many savvy customers review all the “exclusion” clauses within the Product Disclosure Statement (PDS) before they apply. For example, they check if there are any pre-existing medical condition exclusion clauses in the product. You may want to speak with your doctor about any exclusions before signing up for cover.

If there are any optional or built-in extras within the cover

Some products include valuable additional features. You could possibly be entitled to additional benefits such as automatic funeral cover, free financial advice or perhaps counselling for your loved ones in the event of your death.

How easily you can make changes to your cover

Your Life Insurance needs when you are 25 and single will be very different to when you are 45 and may have a partner and possibly children who are financially dependent on you. If there is little or no flexibility in the product to adapt your cover as your life changes, then it may not be right for you.

If you can include other Life Insurance covers

Cover such as TPD, Trauma, or Income Protection Insurance can often be bundled with your Life Cover. It’s important to consider all possible eventualities which could impact your own and your family’s financial future.

 

Let’s get started

Request a quote or book a time to speak with one of our friendly insurance specialists and start saving with NobleOak today.

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  • + Average Savings in Comparison to Other Direct and Advised Products*