NobleOak remain committed to our clients during this uncertain time and we’re proud take part in the FSC COVID-19 initiative to support frontline healthcare workers

NobleOak remain committed to our clients during this uncertain time and we’re proud take part in the FSC COVID-19 initiative to support frontline healthcare workers

Income Protection Insurance

Income Protection Insurance

Protecting hard working Australians when injury or illness means they can't earn their income. Help protect your family with NobleOak's award winning Income Protection.
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Customers rate us 4.6
Based on 300 Service Ratings over the past year
Customers rate us 4.6

Some key features of our Income Protection

Receive regular payments during your benefit period to replace some of your income if you suffer a sickness or injury and can no longer work.

Insure for up to 75% of your pre-tax income

Insure up to 75% of your before-tax income
(up to $25,000) paid monthly.

Premiums are generally

Benefits received from Income Protection are
paid gross and are tax assessable to you. Ask
your accountant to see if this applies to you.


At NobleOak, we keep our costs low so we can
pass them back to you.

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?

Australian Residents between the ages of 18 and 59 can apply for cover up to 75% of their pre-tax income, up to an overall maximum of $25,000 per month.

Maximum Cover Benefit


Maximum Entry Age

59 years old

Benefit Period

2 years or age 65

Waiting Period

30 days or 90 days

What does our Income Protection cover provide?

If you become Totally Disabled, you will receive Monthly Benefits to replace lost income. These payments:

  • commence after the selected 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 about 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.

If you have been on maternity leave or on paternity leave for 12 months or longer prior to the injury or sickness, the first point above is replaced by:

  • unable to perform any occupation for which you are reasonably suited by education, training or experience.

You can choose a Monthly Benefit from $1,000 per month up to a maximum of 75% of your Monthly Income, to an overall maximum of $25,000 per month.

You may add up to 10% to allow for superannuation contributions that would have continued had you not been on claim. The amount you receive will be the Monthly Benefit, less any Claim Offsets, to a maximum of 75% of your Pre-disability Income (plus up to an additional 10% for superannuation contributions if applicable).

Please note that if immediately prior to Total Disablement you have been either:

  • unemployed for 12 months or more; or
  • on maternity/paternity leave for 24 months or more (and not in receipt of an Income)

your Pre-disability Income will be nil and no benefit will be payable in the event of a claim.

You can choose a waiting period of either 30 days or 90 days. The waiting period begins on the first day off work due to the illness or sickness, as long as it is not more than 7 days before a medical practitioner examines you and certifies you as being Totally Disabled. No benefits are payable during the waiting period.

You can choose a Benefit Period of 2 years or to age 65. The Benefit Period begins once the Waiting Period has ended, and continues for this period whilst you are Totally Disabled (or subsequently Partially Disabled) or upon the earlier of reaching age 65 or death.

If you suffer a Specific Sickness or Injury as defined by the medical conditions set out in the relevant PDS, we will pay upfront the following number of Monthly Benefits:

  • 6 months, when the selected Waiting Period is 30 days, or
  • 3 months, when the selected Waiting Period is 90 days.

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

If you suffer more than one Specific Sickness or Injury at the same time, we will only pay once, and no other additional payments will be paid, including the Nursing Care Benefit. This benefit is not available during the first 90 days of commencing or reinstating cover.

Income Protection Insurance may 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 due to your Sickness or Injury:

  • you are only capable of performing some duties of your occupation
  • your monthly Income is less than your Predisablement Income, and
  • you are following the advice of a Medical Practitioner.

Choose cover of up to 75% of your income (max $25,000 per month) in case you can’t work due to sickness or injury, helping you support yourself, your family and cover essential living expenses.

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

Partial Monthly Benefit = (A-B)/B x Monthly Benefit


A = Your Pre-disability Income.
B = Your Income for that month. If your Income is 25% or less than your Predisability Income during the first 3 months after the Waiting Period, we will pay the full Total Disablement Benefit for the relevant period. If you receive no Income beyond those 3 months while still Partially Disabled, we will determine a reasonable Income under the circumstances based on the calculation above. The amount you receive may be reduced by Claim Offsets, to ensure the total benefits being received don’t exceed your Income.

If you are receiving Monthly Benefits, we will waive the premium for the period the claim payments relate to.

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. No Waiting Period will apply for this benefit.

If you die while receiving a Total or Partial Disablement Benefit, your estate will be entitled to a lump sum benefit equal to 3 months of Total Disablement Benefits.

If you are receiving claim payments from us and your Medical Practitioner recommends, we may approve the following expenses to be paid:

  • For any Total Disability claim, Partial Disability claim or claim under the Specific Sicknesses or Injuries benefit, 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 return to gainful employment.

If you are Totally Disabled and confined to bed, and a Medical Practitioner certifies in writing 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).

After receiving a benefit for Total or Partial Disablement for 12 consecutive months, your Monthly Benefit will automatically increase each year by 5%, or the increase in the Consumer Price Index (CPI), whichever is less.

Your benefit will again increase after each subsequent 12 months by the same method, as long as payments have continued to be made to you (without cessation) due to your Total or Partial Disablement.

When payments cease, the benefit will revert to the Monthly Benefit shown on your Benefit Notice at the time of Total or Partial Disablement.

If your spouse (i.e. your legal husband or wife or the person living with you as your spouse on a domestic basis in good faith) 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.

The Spouse Benefit is subject to the following conditions:

  • We must have been paying the Total Disablement Benefit to you for more than 90 days
  • Your spouse must have been earning income from a full-time or permanent part-time occupation, and
  • Your spouse must not have been your employee, or an employee of an entity which you own or owned.

If you become unemployed or need to take extended leave from employment because of full time study, maternity/paternity leave or compassionate leave, then you can write to us and ask us to pause your premiums for up to twelve months.

The premium pause is available once your cover has been in place for more than 2 years. We will not pay for any sickness or injury, which occurs during the premium pause or within 90 days of restarting your premium payments.

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 Income Protection.

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
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 six consecutive years from 2016 to 2021.

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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