Life Insurance

Terminal Illness Benefit

If you become terminally ill, NobleOak will advance a payment from your Life Insurance cover up to a maximum of $3 million. Any residual cover will remain in place until you die, when the balance will then be paid. To be eligible for this payment:

• You will need to be diagnosed as being terminally ill by two Medical Practitioners, one of which is a specialist practising in an area related to the illness or injury suffered by you; and
• Their respective diagnoses certify that you are suffering from an illness, or have incurred an injury, that is likely to result in death within 12 months of the certification. If the cover is owned by a SMSF (as a Trustee Member), then a 24 month (not 12 month) certification period will apply.

Financial Advice Benefit

We understand that you or your estate may possibly need professional financial advice to ensure that the proceeds of a death or terminal illness claim payment are managed appropriately. That is why we will reimburse the cost of engaging a qualified financial adviser to provide assistance and advice, up to $2,000, to prepare a financial plan when we pay a benefit in excess of $200,000 for death or terminal illness.

Grief Counselling Benefit

We understand that your death, or diagnosis with a terminal illness, would be a very emotional time for you and your family. That is why we will reimburse the cost of any grief counselling services required for either yourself or your partner, up to $1,000, after we pay a death or terminal illness benefit.

Premium Freeze Benefit

You can fix the cost of your cover at any time by writing to us with a request to freeze the premium amount. This means that:

• Your future premiums will be fixed at the amount you were paying on the date of notification.
• Each year your cover sum insured will be reduced to the amount of cover that could be purchased with the frozen premium.

You can write to us at any time to end the Premium Freeze Benefit and the premium freeze will be removed on the next anniversary of your cover. Your cover will then revert to the normal premium and cover increases each year thereafter.

Future Increases Benefit

You can increase your cover amount by up to $100,000 without the need to provide further medical evidence if one of the following allowable events occurs:

• You marry
• You register a new business partnership
• You commence or increase a mortgage on your primary place of residence
• You or your partner gives birth to or adopts a child

Indexation

To guard against inflation, your cover amount will automatically be increased at each anniversary using the Consumer Price Index. Your premiums will be increased accordingly due to these CPI increases.

ASIC & APRA Regulated Cover

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