Life insurance – is a term used to refer to a number of different types of covers that will help you and your loved ones manage the financial impact of your passing or becoming ill or injured.
Nothing matters more than the important people in your life, especially those who depend on you. Help make sure your loved ones are financially protected with our range of comprehensive Life covers, which are comprehensive, affordable and simple to take up.
Compare the features and benefits of our range of Life covers, as well as how we compare against other life insurers.
No one likes to think about the worst that could happen, but you should protect yourself just in case. Life insurance is a vital part of financial planning for anyone who has dependents – whose circumstances and wellbeing would be affected by your death. So that means your partner, your children, or anyone else who is financially reliant on you. More than 1 in 5 families will be confronted by an insurable event during their working lives.
Life insurance products do more than provide financial assistance to your loved ones if you die. They can also provide you with financial protection through the addition of Total and Permanent Disability (TPD) and Trauma insurance in the event you were to become severely ill or injured. The lump sum payments you and your family could receive under these covers can provide financial assistance when it’s most needed – allowing debts to be cleared, the payment of ongoing medical and rehabilitation expenses, as well as helping your family to maintain their lifestyle.
Our products are fully underwritten– meaning we ask the right questions up front before you take out cover with us. This results in better value for money for you, and greater certainty at claim time that your claim will be paid quickly and without further requirements. You can even choose to buy direct from us, which means no agent or adviser commissions are included in your premium, saving you even more each year.
All Life insurance policies are renewable annually and the premiums will increase each year on your anniversary date as your age increases (this is known as stepped premiums). There is also a built-in indexation feature which will automatically increase cover to keep up with inflation, which will be reflected in your premiums.
Usually only a death certificate, a copy of the birth certificate, and a completed claim form are required to initiate a claim. The insurance company may then seek additional information from the medical providers consulted prior to death.
Most Life insurance policies, including NobleOak’s, will pay out a lump sum of money on diagnosis of a terminal illness, and where you have been given less than 12 months to live. If this payment is made and you recover, the payment generally doesn’t have to be returned.
NobleOak offers specialty Life insurance products catered to meet the growing demand for adequate Life cover within Self Managed Superannuation Funds (SMSFs) and particularly for those aged between 50 and 70.
*The savings quoted are the average of the 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 insurance companies, including products available directly with the insurer and those available for purchase through a financial adviser or broker. The premiums are based on a non – smoker with a Life insurance sum insured of $500,000 at 5 year age bands from age 20 to 65 for advised products and 20 to 55 for direct products. Your age, occupation, gender, sum insured, smoker status, and health will determine the premium amount charged by NobleOak. Life insurance rates for insurers, including NobleOak, may change in the future and this could change the outcome. The premium comparison was undertaken on November 2015 based on published premium rates. Readers may obtain a quote from NobleOak by contacting us on 1300 041 494.
What makes us different…
NobleOak is one of Australia’s most established life insurers, operating since 1877. We offer high levels of comprehensive cover comparable to other Life products sold through financial advisers. NobleOak’s insurance is backed by the third largest global re-insurer, Hannover Life Re, and we are APRA regulated with an Australian Financial Services Licence (AFSL) issued by ASIC.
NobleOak does not invest in upfront external commissions or mass television marketing, and passes those savings back to our clients and members through reduced premiums. We do not provide personal advice with our products if you buy directly through us, and therefore we don’t charge for it. We also offer further discounts on larger levels of cover.
At NobleOak, you will have a dedicated claims service specialist looking after your claim from start to finish. NobleOak is a market leader in client and customer service and is proud of our Australian based service team. We recently received a highly respected 2014 Plan for Life Direct Insurance Award for Customer Service and achieved a 98.5% satisfaction rating in an independent client survey by Pureprofile in April 2015.
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