Finding the right Life insurance for mature families

You’ve had a wonderful time watching your children grow from tiny infants into adults, finding their own place in the world. When your children reach adulthood, you will hopefully move into a wonderful new stage of friendship and companionship with them.

However, along with the perks of this new stage can come the downside of children who remain financially dependent on you well into their 20s and sometimes even their 30s.

Factors such as rising property prices, unemployment and lengthy university degrees mean that adult children often still rely on their parents to provide a home, supplement their income or otherwise help them out.

Some of the risks you may face

So what does this mean? If your mature family fits into this mould, then it is important that you have Life insurance in place, to help avoid financial disaster in the event that something happens to you. If you are solely responsible for paying the mortgage and you are no longer around, your entire family could suffer due to the absence of your income.

You may also wish to consider additional policies including Trauma insurance (which covers unexpected medical conditions or illnesses) and Income Protection insurance, which kicks in to support you and help clear debt if you can no longer return to work.

This might be particularly important if you are supporting your adult children by helping them with their living costs or guaranteeing loans. Without having this type of insurance in place, you are effectively gambling on your own health and ability to continue working to ensure that your entire family is provided for.

The best value insurance and protection during claim time

To arrange a Life insurance quote, contact NobleOak today. Our personal and dedicated service can help you to obtain insurance which is perfectly suited to you and your mature family’s needs.

Selecting your cover

Our flexible cover options for mature families include lump sum Life insurance as well as Total and Permanent Disability and Trauma cover, so you will have financial security and can focus on what’s really important. You can also add Income Protection insurance (and Business Expenses cover if you are self employed), in the event that you or your partner cannot work for a period of time due to a severe accident or illness. With policies starting from $3 a day, you don’t have to pay much to enjoy peace of mind!

Cover type

Benefits

Helps cover

How to get covered

Life insurance

  • Provides up to $15 million of cover.
  • Sum insured paid in advance upon terminal illness.
  • Advance $10,000 funeral benefit.
  • One standard “exclusion” only (ie. suicide in the first 13 months of the policy commencing). Other exclusions may apply to some applicants depending on health and pastimes.
  • Guaranteed renewability to age 99 (if premiums paid on time), even if health changes.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist your family through the claim process.

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  • Allows payment of any personal or family debt, providing your loved ones with financial freedom.
  • Allows your loved ones to not worry about finding the funds to cover your funeral expenses.
  • Provides funds for any outstanding medical costs.
  • Provides funds for estate, administrative and legal fees.
  • Provides funds for financial assistance for your family following your death to allow them to grieve and not have to worry about the finances.
Obtain a quote

Or call a specialist consultant

1300 041 494
(Weekdays 8.30am to 6.00pm AEDT)

Or

Email us at sales@nobleoak.com.au.

Total and Permanent Disability (TPD) insurance

  • Provides a lump sum payment of up to $3 million for sickness or injuries which cause a total and permanent disability, preventing you from being able to work again.
  • One standard policy “exclusion” only (ie. 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 disablement definition is applicable to non income earners.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you or your family through the claim process.

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  • Allows you to clear all debts, and even provide you with financial freedom.
  • Provides funds to cover ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses.
Obtain a quote

Or call a specialist consultant

1300 041 494
(Weekdays 8.30am to 6.00pm AEDT)

Or

Email us at sales@nobleoak.com.au.

Trauma insurance

  • Provides a lump sum payment up to $2million when one of the listed medical conditions or trauma events occur.
  • Includes coverage of the top 4 medical conditions which account for over 95% of trauma claims paid as well as 33 additional medical conditions.
  • Conditions covered include Heart Attack, Stroke and Cancer.
  • Pays a lump sum on the confirmed diagnosis of one of the listed medical conditions covered by the policy, whether that illness or trauma event is able to be successfully treated or not.
  • Two standard “exclusions” only: (i) Exclusion of self injury in the first 13 months of the policy commencing, and (ii). an exclusion period applies for the first 90 days for 10 of the medical conditions.
  • Worldwide cover.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Allows you to cover or partially cover debts such as your mortgage.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.
  • Provides funds for any necessary home or vehicle modifications resulting from your injury or illness.
  • Provides funds to pay ongoing household expenses.
Obtain a quote

Or call a specialist consultant

1300 041 494
(Weekdays 8.30am to 6.00pm AEDT)

Or

Email us at sales@nobleoak.com.au.

Income Protection insurance

  • Provides you with a regular monthly payment of up to 75% of your income up to a maximum of $25,000 per month, if you are sick or injured and cant perform your work duties.
  • Payments commence at the end of the waiting period and continue for a set period of time (such as 2 years or until the age of 65), depending on the benefit period chosen when the policy commenced.
  • Also covers partial disablement.
  • Premiums are generally tax deductible.
  • Cover also applies when you are overseas.
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Provides a regular monthly income in the event you are unable to work.
  • Allows you to cover or partially cover your financing commitments such as your mortgage or rental payments.
  • Provides income enabling you to pay ongoing household expenses.
  • Provides funds to cover out of pocket costs for ongoing medical and rehabilitation costs associated with your illness or injury.
Obtain a quote

Or call a specialist consultant

1300 041 494
(Weekdays 8.30am to 6.00pm AEDT)

Or

Email us at sales@nobleoak.com.au.

Business Expenses insurance

  • Provides a monthly income stream of up to 100% of your fixed monthly business expenses up to a maximum of $25,000 per month, if you are sick or injured and can’t perform your duties at work.
  • Payments commence at the end of the waiting period and are paid for up to 12 months or the equivalent of 12 times the monthly benefit (if the full insured monthly benefit hasn’t been payable for some reason)
  • Premiums are generally tax deductible
  • Access to a dedicated claims consultant to assist you through the claim process.

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  • Covers payment of your fixed business expenses while you are off work. These include rent, the salaries of non-income producing staff, and all other overheads associated with your business, including payment of the interest component of any loans associated with the business.
  • Provides security for your business to ensure you have a business to return to when you are back on your feet and recovered.
Obtain a quote

Or call a specialist consultant

1300 041 494
(Weekdays 8.30am to 6.00pm AEDT)

Or

Email us at sales@nobleoak.com.au.

When tailoring an individual insurance package– it’s important to compare.

Did you know?

  • A typical Australian family with parents aged 50 years old requires $650,000 of cover to provide for income replacement (Rice Warner, 2013)
  • Cancer was the leading cause of death in Australia in 2010, followed by heart disease (ABS)
  • The weekly mean housing cost for mortgage-owners was $408 in 2010 (ABS)
  • 1 in 3 Australians either have a disability or are likely to be close to someone who has a disability. ¹
  • More than 1 in 5 families will be hit by an insurable event in their working lives.²
  • Each year around 55,000 Australians suffer a heart attack.³
  • 1 in 6 women and 1 in 4 men are expected to suffer from a disability from the age of 35 to 65 resulting in more than 6 months off work.³

Keep in control of your finances with our Life insurance cover options for families