Does low cost Life Insurance provide quality cover?
NobleOak is very proud to be able to offer Australians award winning Life Insurance, without the hefty price tag. Our ongoing goal is to keep costs down while delivering premium Insurance products for your peace of mind.
When you’re shopping around for Life Insurance, what are the most important criteria on your shopping list? If you’re like most, then cost and quality are up there. By cost, we mean the price of premiums; and by quality, we mean the features of the product, ease of making claims, and how likely you are to get paid at claim time.
Some people believe that cost and quality are directly correlated – that is, if one goes up, the other goes up too. NobleOak proves otherwise. Here’s how we keep our premiums low, and our service high.
Cover Direct to You
NobleOak is a direct insurer. Our products are not sold through financial advisers; instead, they are made available directly to you. Other insurers who distribute through financial advisors pay upfront commissions which can be up to 120% of your first year’s premiums, adding significant cost to the distribution of their products which must then be built into their premiums.
By dealing with you directly, NobleOak is able to provide you with cover without any upfront advisor fees. In fact, our competitive Life Insurance premiums are on average 20%* lower when compared to other major insurers.
Complete Peace of Mind
Unlike some other direct insurers, our products are of the same caliber as those you’d purchase through a financial adviser. For example, you can access up to $15 million in Life Cover with Noble Oak – this level of comprehensive cover is usually only available through an adviser led product.
All cover offered by NobleOak is fully underwritten. This means that we assess your risk upfront when you submit your application, by asking you a range of medical, health and lifestyle questions and undertaking a free blood or medical assessment if required. We then use this risk assessment to tailor the cost of cover to you as an individual.
With fully underwritten insurance cover, there are no nasty surprises if you ever needed to make a claim (as long as you were completely honest with us when you submitted your application). You know exactly what you are covered for and all terms are agreed with you upfront.
Best of the best
NobleOak is proud of the 5-star awards it has won from Canstar, one of the leading independent rating services in Australia. In both 2016 and 2017, NobleOak won the awards for Outstanding Direct Life Insurance in Australia and Outstaning Direct Income Protection Insurance in Australia.
We also received the Strategic Insight Overall Excellence award in 2016 for Life Insurance – their independent review ranked NobleOak’s Life Cover as a market leader with respect to price and features.
These awards are testimony to NobleOak’s commitment to delivering premium Life Insurance and Income Protection Insurance products to our clients. We are proud of our reputation for excellent claims servicing, and our reliability in paying claims quickly and efficiently.
With NobleOak® Life Insurance, you can be assured of blue ribbon service – which, ultimately, translates into more security come claim time – at a much more affordable price point. To get started, get a Life Insurance quote online or speak with one of our Insurance Specialists today on 1300 041 494.
- + *Average saving on Life CoverThe 20% savings quoted are the average savings when comparing NobleOak’s premiums for its Term Life cover under NobleOak’s Premium Life Direct product to the average cost of Term Life insurance products offered by other Life Insurance companies, including products available directly from the insurer (8 products included in this comparison) and those available for purchase through a financial adviser or broker (7 products included in this comparison).Based on premium rates available at 31 October 2018, Strategic Insight has calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 45% lower than other comparable Direct Offerings (using an analysis of 8 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 50).Strategic Insight has also calculated that for Term Life, Noble Oak’s Premium Life Direct product is on average 12% lower than Advised Offerings (using an analysis of 7 products, Male and Female non-smoker White Collar workers with a Sum Insured of $500,000 and across 5 year age bands from age 30 to age 60 for Advised products).Life Insurance rates for insurers, including NobleOak, may change in the future and this could change the outcome.Strategic Insight (Actuaries and Researchers) is the leading independent supplier of Australian Life Insurance and Managed Funds market information, relied upon for over 20 years by the leading life offices, analysts, dealer groups and government bodies.If you wish to see the comparison tables and how our premiums compare to Direct and Advised products, please click here.