INCOME PROTECTION INSURANCE

Insure your income the smarter way with NobleOak’s Income Protection cover and save.*

Plus, receive your first month free^

GET A QUOTE

Maximum Monthly Benefit

$25,000

NobleOak’s Premium Life Direct products include comprehensive Income Protection where you can insure for up to 75% of your pre-tax income, to a maximum benefit of $25,000 per month. In the event you suffer a serious illness or injury and are unable to work, NobleOak will pay you a monthly benefit for the duration of your disability, beyond the expiration of your nominated waiting period.

Benefit
Period

2 Yrs or Age 65

NobleOak’s Income Protection cover provides you with the option to choose between a benefit period of 2 Years or to Age 65. The Benefit Period begins at the end of your nominated waiting period and continues for the duration you remain unable to work up to the end of the applicable benefit period, being 2 years or Age 65.

If you pass away whilst receiving a benefit under your Income Protection cover, your estate will be paid a lump sum benefit equal to 3 months of your claim monthly benefits.

Waiting
Period

30 or 90 Days

Also under NobleOak’s Income Protection cover, you have the option to choose between a waiting period of 30 days or 90 days.  In the event of a claim, the monthly benefits will be payable after you have been disabled beyond your nominated waiting period.

Maximum
Entry Age

59

To be eligible to apply for Income Protection cover with NobleOak, you must be an Australian Resident and aged between 18 and 59. Our Income Protection products are priced using stepped premiums which means your premiums will increase each year in line with your age and also 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 Income Protection cover each year up to the age of 65. Your Income Protection 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 products include comprehensive Income Protection where you can insure for up to 75% of your pre-tax income, to a maximum benefit of $25,000 per month. In the event you suffer a serious illness or injury and are unable to work, NobleOak will pay you a monthly benefit for the duration of your disability, beyond the expiration of your nominated waiting period.

Income Protection Features

Indexation Protection

To help protect you against inflation, your monthly benefits will increase each year using the Consumer Price Index. Your premiums will be adjusted accordingly with these increases.

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 are also an APRA regulated Life Insurer with a history dating back over 140 years.

Your Cover Options

NobleOak’s Income protection cover is flexible.  When applying for cover, you can choose from  the following options:

Monthly Benefit

You can choose a Monthly Benefit from $1,000 per month up to a maximum of 75% of your Pre-Tax Income, limited to an overall maximum of $30,000 per month. In addition, you can add up to a 10% to allow for your superannuation contributions, as these contributions may not continue while you are disabled and on claim.

Waiting Period

You can choose a waiting period of either 30 days or 90 days. In the event of a claim, your monthly benefits will become payable after the expiration of the waiting period. These monthly benefits are payable monthly in arrears. The waiting period commences on the day you are certified as being disabled and unable to work by a qualified Medical Practitioner.

Benefit Period

The Benefit Period is the length of time that your Income Protection monthly benefits will be paid to you. You can choose a Benefit Period of 2 years or to age 65. The Benefit Period begins once the Waiting Period has expired, and continues whilst you are Totally Disabled (or subsequently Partially Disabled) for a maximum period of 2 years or to age 65.

Total Disablement Benefit

If you become Totally Disabled, you will receive a monthly benefit payment to replace your lost income. These payments:

  • Commence after your nominated Waiting Period has expired, and
  • Continue for the duration of your Total Disablement, to a maximum of your nominated Benefit Period.

Your payments are calculated on a daily basis and payable monthly in arrears, so your first monthly benefit payment will be paid one month after the end of your Waiting Period.

Totally Disabled / Total Disablement means due to Sickness or Injury occurring while covered for Income Protection Insurance, you are:

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

Partial Disablement Benefit

NobleOak will pay you a reduced benefit if you return to work in a partial capacity following a period of total disablement. 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 means due to your Sickness or Injury:

  • You are only capable of performing some duties of your occupation
  • Your monthly Income is less than your Pre-disablement Income, and
  • You are following the advice of a Medical Practitioner.

The partial benefit you receive will be reduced in proportion to the loss of Income sustained, and will be calculated on a daily basis.

Recurring Disablement Benefit

If you return to work for less than 6 months after receiving your most recent Total Disablement or Partial Disablement benefit, and suffer a recurrence from the same or related cause, the claim will be treated as a continuation of the original claim. In these circumstances, no waiting period will be applied.

Specific Sicknesses and Injuries Benefit

If you suffer a Specific Sickness or Injury as defined by the medical conditions set out in the Product Disclosure Statement we will pay the following Monthly Benefits immediately:

  • 6 months, when the selected waiting period is 30 days, or
  • 3 months, when the selected waiting period is 90 days

This benefit is payable regardless of whether or not you are Totally Disabled, and regardless of whether or not you return to work.

Rehabilitation Expenses Benefit

If you are receiving Income Protection cover payments from NobleOak, upon recommendation from your Medical Practitioner, we may approve the following expenses:-

  • For any Total Disability claim, Partial Disability claim or claim under Specific Sicknesses or Injuries, we will pay up to an additional 50% of the Monthly Benefit for up to 12 months for your participation in a rehabilitation program.
  • For any Total Disability claim, we will reimburse up to 12 times the Monthly Benefit for costs incurred for special equipment to help you re-enter the workforce.
  • For any Total Disability claim, we will reimburse up to 3 times the Monthly Benefit for costs incurred for modifications to your workplace to allow your return to gainful employment.

Nursing Care Benefit

Under your Income Protection Cover if you are Totally Disabled and confined to bed, and a Medical Practitioner certifies that you need the full-time care of a registered nurse for more than 3 consecutive days during the Waiting Period, you will be eligible for the Nursing Care Benefit.

We will pay you a daily proportion, monthly in arrears, of your Total Disablement Benefit while this nursing care continues, up to the end of the Waiting Period, for each day after the first 3 consecutive days. The registered nurse must be independent from you (e.g. not a relative, a business partner, employee or employer).

Spouse Benefit

If your spouse has to stop working because of your Total Disablement, we will pay, monthly in arrears, the lessor of the amount your spouse would have earned per month had he or she kept working, or a monthly benefit of $2,000, for up to 6 months.

ASIC & APRA Regulated Cover

NobleOak Life Limited (NobleOak) is regulated by ASIC and APRA in accordance with section 16C of the Life Insurance Act.

Here's What Our Clients Are Saying

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Affordable insurance and fast friendly service.
Darren J
,
11 December 2019
I was kept up to date through the whole process, very friendly service.
Karen L
,
27 March 2019
Their Customer Service was first rate. Everyone I dealt with through the application process was fabulous. They kept me informed every step of the way and I didn't need to follow up on anything. Very impressed. Would thoroughly recommend them.
Phyllis K
, SA
26 March 2019
Great to deal with. Kept me in the loop throughout the whole process. Good level of communication and I made significant savings on my life insurance premiums over the competitors.
Paul A
,
11 March 2019
Excellent customer service. The process to buy Income Protection Insurance was very easy and the customer service team very helpful and knowledgeable. After I had applied I requested some additional information which was sent to me within a day. That's great customer service to have a good response time even after the initial sale had been made by Noble Oak.
Leo
,
4 March 2019
Your representative was patient, concise, understanding and above all very pleasant to speak and deal with. It was his influence that had me convinced to proceed with your product.
Keith G
,
27 February 2019
Excellent to deaf customers. They communicate well to deaf customers by using sms texts and emails. Other companies just ring my number all day long.
Ronald F
,
26 February 2019
Great service. The customer service is great. They are friendly and very helpful and it was a pleasure dealing with them.
Annette M
,
20 February 2019
I am very pleased with Noble Oak and the ease with which the transaction was finalised. I wouldn't hesitate to use them again or to recommend them to my family and friends.
Roberto F
,
6 February 2019
Each phone call and email was answered by a person who knew the answers to my queries very polite and courteous at all times.
Craig T
,
24 January 2019
Very helpful, informative and great communication. I’m very happy to have been approved into the Noble Oak community Happy customer that’s me!
Dianne M
,
16 January 2019
It's good for elderly people. Quite affordable and good conditions.
Vaulina B
,
19 December 2018
Great service, honest advice, prompt follow up, extremely competitive premium and deal. Thanks Noble Oak.
Vijay C
,
23 November 2018
Superb and excellent! The premium is much lower compared to the others. The process of getting their insurance is fast and well coordinated.
Brian
,
21 November 2018
They were helpful, friendly and nothing seemed to be an issue for them even when I needed to amend some of the questions on the proposal. I received phone calls to advise of the next step and the Nurse that came to our house on a weekend was so friendly and professional in her duties.
Paul J
,
20 November 2018
Fantastic customer service, competitive costs for income protection attracted me to switch over from other insurance. Follow up by NobleOak team including approval of quote is excellent and made me comfortable and happy. Highly recommend this income protection policy.
Girija P
,
15 November 2018
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

How to Apply

  • Get a Quote

    One of our friendly insurance specialists will help you complete your Income Protection quote over the phone or online.

  • Apply

    If you’re happy with the quote, you can apply immediately 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.

Income Protection Simplified

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Frequently Asked Questions

What is Income Protection Insurance?

Often referred to as IP, Income Protection is a Life Insurance product which is designed to provide regular payments for a specified period to replace some of your income when you can’t work due to a serious illness or injury. The monthly benefit covers up to 75% of any pre-tax income (subject to an overall maximum benefit of $25,000 per month). To be eligible for IP Cover you need to be an Australian resident and aged between 18 and 59.

How long should my waiting period and benefit period be?

The waiting period is the length of time before you become eligible to receive your monthly benefit, and the benefit period is the maximum length of time you will receive payments for. At NobleOak the waiting period for IP is either 30 days or 90 days and the benefit period is either 2 years or to age 65.

If you choose 90 days for your waiting period instead of 30 days, your Income Protection premiums will be lower. Similarly, if you choose a benefit period of 2 years, your premiums will be lower than if you had chosen a period up until age 65.

Is Income Protection tax deductable?

IP premiums are generally tax-deductible. If you have a policy that includes another life insurance product with NobleOak, you may only claim a tax deduction for premiums paid for the IP component. If IP Cover is taken out through an Industry or Retail superannuation fund and premiums are deducted from your super contributions, these premiums cannot be claimed as a tax deduction.

Do I need Life Insurance and Income Protection?

These two products are designed to safeguard you and your family’s financial future in different ways. They provide cover for varying situations, so it’s important to carefully consider your particular circumstances and situation when deciding upon what types of insurance cover you need, and to assess your suitability and eligibility for both options before starting an application.

How can I apply for cover?

You can apply for IP Cover by obtaining a quote online or by speaking to a member of the NobleOak team over the phone. We can’t provide personal advice although we can offer general information to guide you through the process. If you know what level of cover you need, we can proceed with your application straight away.

Visit our FAQ page to find out more information on NobleOak’s Income Protection Insurance product. The insurance is subject to the terms and conditions in the PDS which contains the relevant information including any exclusions.

Terms & Conditions

View T&Cs

Average Saving on Income Protection

The savings quoted are the average of the savings when comparing NobleOak’s Premium Life Direct premiums under this offer with the average cost of 16 comparable Direct Income Protection products. The premiums are based on a male and female non-smoking Australian resident with an Income Protection monthly benefit of $5,000, 30 day Waiting Period and 2 year Benefit Period, for Professional and White Collar occupations, calculated at 5-year age bands from age 20 to 55. Premium rates for insurers, including NobleOak, may change in the future and this could change the outcome. The premium comparison was derived from the Strategic Insight premium comparator using data from March 2018.

^First month free

The first month free offer is available if you apply for cover before 28 June 2019. If you apply for cover before 28 June 2019, 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 and may not be used in conjunction with any other offer.

Product PDS

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Life Insurance Calculator

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Average Saving on Income Protection

The savings quoted are the average of the savings when comparing NobleOak’s Premium Life Direct premiums under this offer with the average cost of 16 comparable Direct Income Protection products. The premiums are based on a male and female non-smoking Australian resident with an Income Protection monthly benefit of $5,000, 30 day Waiting Period and 2 year Benefit Period, for Professional and White Collar occupations, calculated at 5-year age bands from age 20 to 55. Premium rates for insurers, including NobleOak, may change in the future and this could change the outcome. The premium comparison was derived from the Strategic Insight premium comparator using data from March 2018.

^First month free

The first month free offer is available if you apply for cover before 28 June 2019. If you apply for cover before 28 June 2019, 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 and may not be used in conjunction with any other offer.