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Life Insurance
Save 20%* on average on your premiums with our multi award-winning Life Insurance.
Key features
Winner 2018, 2017, and 2016 Canstar Direct Life Insurance Awards
Cover up to $15,000,000+
Terminal Illness Benefit up to $3,000,000
$15,000 Funeral Advance Benefit~
$2,000 Financial Advice Benefit
$1,000 Grief Counselling Benefit
Fully underwritten cover means there are ‘no surprises’ at claim time
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Life Insurance (also called Life Cover or Term Life Insurance) pays out a lump sum in the event you pass away or are diagnosed with a terminal illness with less than 12 months to live.
With NobleOak, you can access up to $15 million in Life Insurance cover, a benefit that usually only available through financial advisers. The difference is you’re buying Life Cover directly from an independent Australian Life Insurer, so you don’t pay up front commissions or fees saving an average of 20%* on your premiums.
It’s the smart way to buy comprehensive Life Insurance, backed by outstanding personal service.
Life Insurance Features
We’ve designed our Life Insurance features to provide you with cover that’s tailored to your needs.
Award-winning cover
NobleOak has won the prestigious Canstar Outstanding Value Award for the three consecutive years. We’re the only direct Life Insurer to win three awards for outstanding value three years in a row for Direct Life Insurance – 2016, 2017 and now 2018.
High cover levels
You can apply for up to $15 million of cover for death and terminal illness, without having to go through a financial adviser. That’s much higher than most direct insurers.
Low premiums
We don’t pay fees or upfront commissions to advisers. That means you’ll save 20%* on average compared to other Australian Life insurers.
Fully underwritten ‘no surprises’ cover
We take the time to get to know you upfront, so we can tailor your cover and premium. Giving you more certainty at claim time.
Terminal illness included
We will pay a benefit up to the Life Cover sum insured to a maximum of $3 million if you are diagnosed with a terminal illness, allowing you to access your insurance benefits immediately.
Cover while you wait
We provide Interim Accidental Death cover (up to $1 million) at no additional cost during the application assessment period. This cover starts as soon as we receive a completed application for Life Cover.
Backed by a global reinsurer
Our Life Insurance products are backed by a leading global re-insurer, Hannover Life Re. In 2016, Hannover Life Re paid out globally over $7.7 billion^ for Life and Health Insurance claims (and related expenses).
Grief counselling and financial advice
On top of your claim payment, we’ll reimburse you or your partner up to $1,000 for grief counselling, and up to $2,000 for financial advice, to help navigate a path forward. This is available when you take out $200,000 or more of cover.
Apply over the phone
No one likes filling in long forms. That’s why we offer an easy application process over the phone, taking on average 20 mins.
Dedicated claims support
If you or your family make a claim with NobleOak, you’ll be dealing with our friendly, Australian Life Insurance claims consultant from start to finish. We’re here to make the process easy for you.
ASIC & APRA regulated cover
As a friendly society, NobleOak’s Life Insurance offering is regulated by ASIC and APRA in accordance with section 16C of the Life Insurance Act.
Compare Life Insurance
At NobleOak we’re committed to providing our clients with high quality Life Insurance and independent comparison research reflects this.
The 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 2017©. It clearly illustrates that NobleOak’s Life Cover is a market leader with respect to price and features when compared to other direct providers of Life Insurance in Australia.
Strategic Insight (Actuaries and Researchers) is the leading independent supplier of Life Insurance in Australia and managed funds market information, relied upon for over 20 years by the leading life offices, analysts, dealer groups and government bodies.
Life Insurance FAQs
Find out more about our award winning Life Insurance, from initial quote through to claims, we’re with you all the way.
Life Cover pays a lump sum amount if the insured person dies or becomes terminally ill. This money can be used to eliminate debt, pay any medical and funeral expenses and provide for the ongoing needs of any dependants.
You can apply for Life Cover as stand-alone cover, or bundle it up with other cover types – including Income Protection Insurance, Total and Permanent Disability (TPD) Insurance and Trauma Insurance. Once you’re accepted for Life Cover, we guarantee to renew your cover up to 99, as long as your premiums are paid.
Your premium is calculated based on your age and gender, occupation, level of cover, and your answers to the health and lifestyle questions we ask when you apply. It’s tailored to you, so you don’t have to worry about paying more to compensate for other people’s risks.
If you have copies of any of your recent medical records or, blood test results and details of any prescription medicines you are taking, this will speed up the application and assessment process. Many clients are able to answer all of the questions in our application without additional requirements.
No, all NobleOak applications are fully underwritten at the time you take the cover out.
As long as you fully and correctly disclose your medical history and other details in the application, your claim will be assessed based on this information and processed efficiently. Apart from the industry standard 13 month suicide exclusion, there are no other pre-built in exclusions in NobleOak Life Insurance.
If any Special Acceptance Terms are imposed on your cover, we tell you about these at the time of your initial assessment (underwriting stage) and formally agree these with you prior to issuing your cover. We firmly believe this is the best way to provide Life Insurance as it provides more certainty and clarity for you and your family.