Finding the right Life insurance for senior?

You’ve had to make many life decisions over the years – including what to study, whether to buy a house, whether to have children, and how to progress your career.

So what happens now you’re older?

Decisions for this life stage

If you’re a senior, retirement planning is likely to be a key concern. An important part of the decision to plan for your post-employment future includes arranging for Life insurance to protect your family in the event that you or your partner suddenly passes away.

If you are heading into the senior years of your life, you may well have paid off the bulk of your mortgage and be asset rich but cash poor. In particular your income stream, even if you are a self-funded retiree, is likely to be limited. This means that you might be looking for best value Life insurance, with a lower premium and potentially a lower payout than would have suited you in your younger years.

Some of the considerations

It’s important you obtain a Life insurance policy which will provide sufficiently for your family members in the event of your death, including paying for unpaid bills and funeral costs.

If you are reliant on the pension, you might want to make sure that your Life insurance policy has the potential to leave a lump sum cash payment to your partner, to assist them when they become reliant on the single pension.

In addition to Life insurance, you may find it helpful to have a Total & Permanent Disablement policy in place if you’re still working into your later years. In the event that you are prevented from returning to work due to illness or injury – possibly before you have adequately prepared for your retirement – then a TPD policy can pay you out a lump sum which can assist you to pay off any debts, and cover medical and hospital fees.

Getting the cover you need

There is such a thing as leaving it too late to arrange Life insurance. Don’t risk leaving yourself unprotected in your senior years, arrange a Life insurance quote today. NobleOak provides personal and dedicated service designed to cater to your individual needs, and offers security during claim time.

Selecting your Life insurance cover

We can tailor your cover to include Life insurance, Total and Permanent Disability cover (apply up to age 64 next birthday), and Trauma cover (apply up to age 59 next birthday) so you can focus on enjoying your retirement years without financial worry.

Life insurance cover at a glance

Cover type

Benefits

Helps cover

How to get covered

Life insurance

  • Provides up to $15 million of cover.
  • Apply up to age 64 next birthday.
  • 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 personal or family debt, providing financial freedom.
  • Allows your family 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 in the months/years following your death to allow them to grieve and not worry about the finances.

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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. Apply up to age 64 next birthday.
  • 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 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.

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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 $2 million when one of the listed medical conditions or trauma events occur.
  • Apply up to age 59 next birthday.
  • 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.

Read More

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.

Did you know?

  • Cancer was the leading cause of death in Australia in 2010, followed by heart disease (ABS)
  • The average retirement age in the five years to 2013 was 61.5 years (ABS)
  • 46 per cent of retirees reported ‘government pension or allowance’ as their main source of income (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. ²

Spend less time worrying about the future, and more time with the ones you love. Find out more about Seniors Life insurance from NobleOak.