We’re an Award Winning Life insurer

NobleOak’s Life insurance is a low-cost way to protect your family’s financial security if you die or are diagnosed with a terminal illness.

Our Life cover can pay a lump sum of up to $15 million that can be used to clear your debts, pay funeral expenses and provide ongoing financial support for your family.

Optional extras on Life insurance

For broader protection, you can apply to complement your Life insurance cover with:

  • Trauma insurance – Choose up to $2m cover in case you suffer one of 38 critical illnesses.
  • Total and Permanent Disability (TPD) insurance – Choose up to $5m cover in case you’re never able to work again because of sickness or injury.

FREE Life Insurance Analysis Report

Includes:

  • Your Life Insurance needs
  • Your cover options
  • Descriptions of all covers

Choose what's right for you

Life Insurance Calculator

Why choose NobleOak Life insurance?

Flexible payment options

24/7 Worldwide cover

Guaranteed renewability

Inflation protection

30 day money back guarantee

Life insurance comparison

The Life cover provided through NobleOak’s Premium Life Direct product has been independently reviewed by Plan For Life.

The matrix below is an extract from the Plan For Life Direct Insurance Report 2015 ©. It clearly illustrates that NobleOak’s Life cover is a market leader with respect to price and features.

Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian life insurance and managed funds market information, relied upon for over 20 years by the leading life offices, analysts, dealer groups and government bodies.

Click here to compare our Life insurance premiums against other Life insurers.

Click here for the Life insurance comparison matrix

 

Save money with lower premiums  

With NobleOak you can achieve the same level of comprehensive cover you would normally access through a financial adviser without the cost of the personal advice. This saves you on average 20%* through reduced premiums.

 

*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 from 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.

 

⁺First months’ cover free

This offer is available if you apply for cover before 30 June 2017. If you take out two or more cover types (either in one or more than one policy/ies) you will not start paying premiums until two months after the earliest commencement date of the relevant cover. If you take out only one type of cover, or if you take out two or more covers but cancel any cover within the first month, you will not start paying premiums on the remaining cover/s or policy until one month after the commencement date of the cover. This offer applies for all applications received by 5:00pm (AEDT) Friday 30th June 2017. This offer is available once only per new customer.

About NobleOak Life insurance

Comprehensive Life insurance for your financial security

Up to $15 million cover for death and terminal illness.

Accidental cover applicable at no additional cost during the application assessment period.

Easy application process over the phone taking on average 20-30 mins.

Fully underwritten. We assess your health upfront so you know what you’re covered for.

Guaranteed renewability to age 99.

$15,000 of the agreed cover advanced quickly upon death to assist with funeral expenses.

Discounts for higher levels of cover.

Optional Trauma insurance of up to $2 million for the four most common critical medical conditions, such as cancer, heart attack, stroke and coronary artery angioplasty plus 34 additional conditions.

Backed by the third largest global re-insurer, Hannover Life Re.

Optional Total and Permanent Disability (TPD) insurance of up to $5 million, with a choice of ‘Own Occupation’ or ‘Any

Dedicated local claims specialist will look after any claim.

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NobleOak vs Direct Life Insurance: Average Saving 37%*
Monthly Premium for $500,000 of Life cover

Life Insurance Direct Rates

NobleOak vs Direct Life Insurance: Average Saving 37%*
Monthly Premium for $500,000 of Life cover

Life Insurance Direct Rates

NobleOak vs Advised Life Insurance: Average Saving 15%*
Annual Premium for $500,000 of Life cover

Life Insurance Advice Rates

NobleOak vs Advised Life Insurance: Average Saving 15%*
Annual Premium for $500,000 of Life cover

Life Insurance Advice Rates

Disclaimer
∗Under this analysis, the average saving compared with products available directly is 52%, and 14% when compared with advised products.  This results in a combined average saving in excess of 20% (through both channels).  Your age, occupation, gender, sum insured, smoker status, and health will determine the premium amount charged by NobleOak.

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 from 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 product and 20 to 55 for direct products.

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.

You need to be an Australian resident between the minimum and maximum ages shown in the below table to be eligible for NobleOak Life insurance.

Type of insurance

What you are covered for

Minimum age at entry

Maximum age at entry

Cover expiry age

Life insurance

Choose up to $15m cover in case you die or become terminally ill, helping you clear your debts and support your family.

16

69

99

Total and Permanent Disablement (TPD) insurance (optional)

Choose up to $5m cover in case you’re never able to work again because of sickness or injury, helping you modify your home, replace lost income and clear debts.

16

64

75

Trauma insurance (optional)

Choose up to $2m cover in case you suffer a serious listed medical condition, helping you pay your treatment expenses and adjust your lifestyle.

18

59

70

Income Protection insurance

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

18

59

65

Business Expenses insurance

Choose cover up to $25,000 per month in case you can’t work due to sickness or injury, helping you cover the fixed costs of running a business.

21

59

65

At NobleOak, we help protect you and your family by offering comprehensive Life and other optional covers to ensure you enjoy financial peace of mind. Choose from Life insurance, TPD (Total and Permanent Disablement) insurance, Trauma insurance, and Income Protection insurance cover. Use our Life insurance comparison table to help you select the right cover for you.

Life insurance

TPD

Trauma

Income Protection

Business Expenses

Guaranteed renewable

Dedicated claims specialist

Easy phone based application

Australian based service team

Comprehensive underwritten cover

Inflation protection

Cover for mental illness

Worldwide cover

Payment of a lump sum on diagnosis of Terminal Illness

n/a

n/a

n/a

n/a

Suitable for use in an SMSF

n/a

n/a

n/a

Application age eligibility

16 to 69

16 to 64

16 to 59

16 to 59

21 to 59

Expiry age

99

75

70

65

65

Amount of cover you can apply for

up to $15m of cover

up to $5m of cover

up to $2m of cover

up to $25,000 per month of cover

up to $25,000 per month of cover

Waiting period

Nil

6 months

90 day qualification (certain conditions only)

Choice of 30 or 90 days

Choice of 30 or 90 days

Benefit period

n/a

n/a

n/a

Choice of 2 years or ‘to age 65’

12 months

Additional features

Terminal Illness cover.

One standard exclusion (i.e. intentional self-injury in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.

Domestic Duties definition applies to clients working less than 15 hours per week.

One standard exclusion (i.e. intentional self-injury in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.

Includes coverage of the 4 most common medical conditions which account for over 90% of Trauma claims paid (Heart Attack, Stroke, Cancer and Coronary Bypass Surgery).

Covers 34 additional medical conditions.

Includes Partial Disablement Benefit, Waiver of Premium, Recurring Disablement Benefit, Specific Sicknesses and Injury Benefit, Death Benefit, Rehabilitation Expenses Benefit, Nursing Care Benefit and Spouse Benefit.

Premiums are generally tax deductible.

Includes Partial Disablement Benefit, Waiver of Premium, and Extended Benefit Period Benefit.

Premiums are generally tax deductible.

How much Life insurance do I need?

Jane* is 40 and works full-time earning $100,000 per year. She has a husband, David, who earns $65,000 per year and 3 children aged 8, 6, and 3. Jane is naturally concerned that her family is at risk if she passes away unexpectedly, as they would not be able to survive financially. She also feels there is no chance her children will be able to attend private schools in the future as she planned, and would not want them to have to change schools if her family could no longer afford the fees.

Calculation

Amount

Comments

Add

Value of mortgage you would like to clear.

$400,000

Value of any business or other loans you would like to clear.

$60,000

Private car (e.g. car loan)

Annual living expenses for her family multiplied by the number of years they will require this support.

$650,000

$65,000 x 10 years

Any other large expenses likely to be required by her family in the future (e.g. private school fees, new car, family holidays etc).

$540,000

3 children x $30,00 private school fees x 6 years + $50,000 house improvements.

Subtotal

$1,650,000

Subtract

Any Life cover she currently has.

($300,000)

Jane has $300,000 of cover in her super fund.

Any other annual net income the family will earn (multiplied by the number of years it will be earned) or assets they can sell.

($400,000)

David will still earn an income, although he may have to cut down his hours to help his family, or pay for a nanny. Therefore a reduced income is included ($40,000 x 10 years).

Subtotal

($700,000)

Total Life cover required

$950,000

This is the approximate amount of  life cover Jane would need to apply for to meet her needs.

Each person’s personal circumstances are different. Consider your circumstances when deciding how much Life insurance cover you require.

The importance of  Life insurance

Linda and Mike are both in their early forties. They have two young children (age 4 and 5) and a $400,000 mortgage. Linda earns $100,000 per year and Mike provides full-time home care. To protect their family, Linda and Mike each take out $1 million Life insurance policies and name their spouse as beneficiary. Four years later, Mike dies suddenly of a heart attack. Mike’s policy pays Linda a tax-free lump sum of $1 million. This payment allows Linda to eliminate the mortgage and invest the remaining money to provide an income stream for the family. The insurance benefit also means Linda can take a year off work to adjust to the new arrangements while being around for the children before and after school.

Real life example

Michael’s story *

Michael had Life insurance cover with NobleOak since 2011, but tragically passed away in February 2014, leaving behind his partner of many years. His insurance cover of $650,000 was paid to his partner within 10 business days of receiving all the relevant paperwork, to relieve her of a financial burden and support ongoing family expenses. View all our latest testimonials to see what our clients are saying about us!

*Please note that while this case study is real, names have been changed for privacy purposes

What is Life cover?

Life cover (also known as Life insurance, Term Life insurance or Death cover) pays a set amount of money as a lump sum when the insured person dies. The money will go to the people nominated as beneficiaries on your policy, such as family members, usually to help pay off debts and pay for ongoing family living expenses. Life cover is the simplest and most common form of Life insurance.

How does a Life policy work?

The insurer offering Life cover will usually ask some medical, occupation and pastime questions, and may require a medical examination when you apply for cover. Your policy is renewed annually, with premiums usually increasing as you age (commonly known as “stepped premiums”) and as your level of cover increases (commonly known as “indexation”), to keep up with inflation. Usually only a death certificate and claim form is required to initiate a claim. Your Life insurance company may then seek additional information from the medical providers you have consulted prior to death. Most Term Life policies will pay out a lump sum of money if you are diagnosed with a terminal illness and given 12 months to live. If the payout is made and you recover, the money doesn’t have to be returned.

Does your Life cover comply with SIS regulations? Can it be included in an SMSF?

Yes. Our products cater for the regulatory SMSF requirements, as well as providing unmatched flexibility. You can also move your Life and TPD insurances out of your SMSF, if your needs and circumstances change, without cancelling your policy and reapplying for cover.

More Frequently Asked Questions

Obtain an obligation free Life insurance quote – call 1300 041 494

More Life insurance information

Learn more about Life insurance and the different types of products available to best suit your needs.

Life insurance – more information

Business Expenses insurance – more information

Life insurance through a SMSF

What do our clients think?

Images have been changed for privacy reasons.

“Was an easy process with helpful staff to make it even easier. Would recommend it to anyone considering any form of insurance.”

Nathan B.
(March 2017)

“Excellent service. They phoned me as they said they would and all was done smoothly.”

Celeste T.
(March 2017)

“Ease of process and a good economical result.”

Jennifer M.
(March 2017)

“Very good service, staff more than happy to help and answer any questions that I asked. Very happy with the service!”

Sandra T.
(January 2017)

“Very easy.”

Beau D.
(January 2017)

“Polite friendly efficient and value for money.”

Karen R.
(January 2017)

View all our latest testimonials to see what our clients are saying about us!

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