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2017 CANSTAR Outstanding Value Direct Income Protection Award

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2016 CANSTAR Outstanding Value Direct Life Insurance Award

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2016 CANSTAR Outstanding Value Direct Income Protection Award

Why choose NobleOak Premium Life Direct?

Premium Life Direct offers the comprehensive Life insurance you would normally access through a financial adviser, without the cost of personal advice.

By keeping our costs low, we can deliver an average 20%* saving on premiums on Life insurance. We believe our multi-award winning Premium Life Direct is the best value Life insurance available in Australia, and encourage you to compare our quality cover, service and premium rates to any competitor product.

Please refer to the Premium Life Direct Product Disclosure Statement for more information.

Disclaimer

20%* Savings –  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, based on published premium rates November 2015.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% (across both channels).

Your age, occupation, gender, sum insured, smoker status, and health will determine the premium amount charged by NobleOak.

payment-options

Flexible payment options

worldwide-cover

24/7 Worldwide cover

renewability

Guaranteed renewability

inflation-protection

Inflation protection

21daymoney

30 day Money back guarantee

About our Premium Life Direct product

For more information please view our Premium Life Direct Product Disclosure Statement.

There are five types of covers available through Premium Life Direct.

Life insurance

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

TPD insurance (purchased with Life cover)

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

Trauma insurance (purchased with Life cover or as stand-alone cover)

Choose up to $2m of Trauma cover in case you suffer one of the serious medical conditions or critical illnesses listed in the Product Disclosure Statement, helping you to pay your treatment expenses and adjust your lifestyle.

Income Protection insurance

Choose Income Protection cover of up to 75% of your income (up 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.

Business Expenses insurance

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

Comprehensive cover

Easy application process

Hassle-free claims

Maximum sum insured $15m of Life cover.

One of NobleOak’s friendly insurance specialists will give you an obligation-free Life insurance quote over the phone.

Dedicated local claims specialist to look after your claim.

Fully underwritten cover. We assess your health upfront so you know exactly what you’re covered for. See below for more.

Fast-track applications for healthier lifestyles – usually no paperwork.

We pride ourselves on having paid 100% of all genuine claims.

24/7 Worldwide cover. All travel plans, occupations and pastimes considered.

If medicals are required with your application we will cover the cost.

Your policy is backed by the third largest global re-insurer, Hannover Life Re.

Early payment upon terminal illness for life expectancy less than 12 months (up to $3m) on Life cover.

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

Unlimited beneficiaries.

Life cover guaranteed renewable to age 99.

Interim accidental death cover at no additional cost during application assessment period.

$15,000 funeral advance benefit.

No waiting period for Life cover.

Trauma insurance includes cover for the four most common medical conditions (accounting for over 90% of Traumas) plus 34 additional conditions.

Optional Income Protection insurance of up to $25,000 per month.

Optional Business Expenses insurance of up to $25,000 per month.

Use the table below to help you select the right cover type(s) for you.

Life insurance

TPD

Trauma insurance

Income Protection

Business Expenses

Guaranteed renewable

tick
tick
tick
tick
tick

Dedicated claims specialist

tick
tick
tick
tick
tick

Easy phone based application

tick
tick
tick
tick
tick

Australian based service team

tick
tick
tick
tick
tick

Fully underwritten cover

tick
tick
tick
tick
tick

Inflation protection

tick
tick
tick
tick
tick

Cover for mental illness

tick
tick
tick
tick
tick

Worldwide cover

tick
tick
tick
tick
tick

Payment of a lump sum on diagnosis of Terminal illness

tick

n/a

n/a

n/a

n/a

Suitable for use in an SMSF

tick
tick

n/a

n/a

n/a

Application age eligibility

16 to 69

16 to 64

18 to 59

18 to 59

21 to 59

Expiry age

99

75

70

65

65

Amount of cover you can apply for

Up to $15m

Up to $5m

Up to $2m

Up to $25,000 per month

Up to $25,000 per month

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 year or ‘to age 65′

12 months

Premiums generally tax deductible

n/a

n/a

n/a

tick
tick

With Premium Life Direct, you can achieve the same type of comprehensive cover you would normally access through a financial adviser, without the cost of the personal advice. This saves you on average 20%* each year through reduced premiums when compared with other quality Life products. The tables below show how our premiums compare to other direct Life insurance products:

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 ∗ 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, based on published premium rates November 2015. 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. 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.

To see the type and level of cover you can apply for with Premium Life Direct, click here.

Type of insurance

Minimum age at entry

Maximum age at entry

Cover expiry age

Life insurance

16

69

99

Total and Permanent Disability (TPD) insurance (optional)

16

64

75

Trauma insurance with Life cover (optional)

18

59

70

Trauma insurance Stand-alone (optional)

18

59

70

Income Protection insurance

18

59

65

Business Expenses insurance

21

59

65

About NobleOak

Who is NobleOak? Why haven’t I heard about NobleOak before?

NobleOak is an independent Life insurer established as a friendly society in 1877. You haven’t seen us on TV because we don’t spend money on expensive advertising or mass marketing. We rely heavily on targeted promotion through alliance partners and word of mouth to promote our products and service.

What is Premium Life Direct and how is this different to other Life insurance?

Premium Life Direct is a Life and Income Protection insurance product that offers comprehensive cover normally available through financial advisers directly to you from NobleOak. It’s designed for clients who want to purchase comprehensive Life insurance directly, without a financial adviser, or require a lot of cover. Premium Life Direct gives you control and saves you money. Unlike other direct Life insurance products, it provides cover up to $15 million for Life and up to $5 million for TPD (Total and Permanent Disablement) insurance. You can also add Trauma insurance (optional with Life cover or stand-alone), Income Protection and Business Expense insurance if required.

Why are Premium Life Direct premiums lower than comparable products?

We’re able to provide lower premiums than comparable competitor products as we don’t spend a lot of money on mass advertising, and we don’t pay high upfront commissions to advisers. We pass these savings on to our clients and members.

Applying for cover

How can I apply for Premium Life Direct?

It’s very easy. Simply call NobleOak on 1300 041 494. One of our Australian-based Life insurance specialists can provide you with a quote and take you through the application process over the phone at a time that suits you. Our underwriters at NobleOak will then assess your application. We’ll keep you up-to-date with progress and confirm with you when your application for insurance is approved. We can start the cover immediately once we confirm our approval.

How long does the application process take?

It generally takes around 15-20 minutes to complete the application. The assessment process time can vary, depending on whether any medical information is required, and whether there are any additional requirements (e.g. a medical report from your doctor or short-form medical exams and blood tests for high levels of cover). These requirements will be arranged by us at our cost. When additional requirements are necessary, the process to finalise our underwriting decision may take between 10-20 working days depending on how quickly the doctors can provide their reports. At all times, we will manage the requirements for you and keep you informed of the progress of your application.

What details can I provide to assist with my application for cover?

Provide copies of any of your recent medical records or blood test results, and details of any prescription medicines you are taking as this will speed up the application and assessment process. Many clients are able to answer all of the questions in our application with no additional requirements necessary.

What does “fully underwritten” mean?

Premium Life Direct is a “fully underwritten” Life and Income Protection product. This means NobleOak asks you about your health and lifestyle when you apply for cover, and tailors your cover and premium to the answers provided. As long as you provide honest and complete answers when you apply, your cover will not be subject to additional verification at claim time, providing far greater certainty your claim will be paid. At NobleOak we believe in fully underwritten cover as it provides certainty and clarity as to what you have purchased. Surprisingly, many Life and Income Protection policies available directly (through an insurer or bank) are not fully underwritten, creating uncertainty at claim time. A little extra time upfront can be worth a lifetime of peace of mind.

Am I committed to take out the insurance after the interview or application?

No. There is no obligation for you to accept the policy after you’ve received a quote or even applied for cover. There is also a 30-day cooling off period once the policy has been activated.

Can NobleOak perform pre-assessments?

Yes. One of our underwriters will be able to provide a pre-assessment on the same day you enquire to confirm the likely terms we can offer you.

Can I add TPD, Trauma or Income Protection to my cover?

How much will my premiums increase each year?

Like most Life insurance sold in Australia, our products have stepped premiums. This means your premium will generally increase by:

  • between 0% at younger ages and up to about 10% at older ages each year. These increases reflect the general increase in risk of death, injury or illness as you get older
  • between 3 – 5% each year due to the built-in indexation feature (designed to ensure the value of your cover keeps up with inflation). You can stop indexation of your cover if you prefer.

I have an adviser, can I purchase Premium Life Direct through my adviser?

No, Premium Life Direct is only available directly, meaning without financial advice. If you would like to purchase a NobleOak product through an adviser, they may offer you My Protection Plan, which is equally comprehensive and available through selected advisers. It is important to note that NobleOak does not offer high upfront commissions to financial advisers.

Can I include my spouse in my application?

Yes. We can give you a quote for your spouse’s cover. Your spouse will then need to speak with a NobleOak representative to complete their application. If your spouse isn’t immediately available, we can call them at a suitable time. All we need is their name, phone number and the best time to call. Please call us on 1300 041 494 or email us at [email protected]

How much cover do I need?

We are often asked the question “How much cover do I need?” To help our clients determine the level of cover they need, we have developed a new self-serve Life insurance calculator. By simply answering a few questions you will receive an in- depth personalised Life insurance Analysis report on the types of insurance and level of cover you may need. This comprehensive tool will help you determine how much Life, TPD, Trauma and Income Protection insurance you need.

About Claims

What does dedicated claims consultant mean?

NobleOak aims to review and pay all claims quickly and efficiently. We assign a dedicated claims consultant to each claim to ensure the process is smooth and hassle-free. We aim to assess claims within 5 business days of receiving all the required documentation. Payments are paid monthly in arrears after the expiry of the waiting period.

How do I know NobleOak will be around when it’s time to claim?

Like every other Life insurance company in Australia, NobleOak is regulated by APRA (Australian Prudential Regulatory Authority) and subject to stringent capital and reserving requirements to protect our members. These protections help ensure we remain stable and are able to pay out all genuine claims. We are one of Australia’s most established insurers, having operated in Australia since 1877. Our products are also backed by a top 3 global reinsurer, Hannover Life Re, which provides extra security.

Are there any pre-existing condition exclusions in my cover that could affect a claim?

No. All NobleOak applications are fully underwritten at the time you apply for insurance. 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.

For more information please view our Premium Life Direct Product Disclosure Statement.

*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 with 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 on 1300 041 494.

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2016 CANSTAR Outstanding Value Direct Income Protection Award

NobleOak’s Direct Income Protection product received an ‘Outstanding Value’ award after achieving 78 out of a possible 80 five-star ratings (the highest rating possible) in the 2016 CANSTAR Direct Income Protection Star Ratings. The CANSTAR Direct Income Protection star ratings process is a unique assessment that involves a comparison of both cost and features across direct Income Protection products. In 2016, CANSTAR Direct Income Protection compared 14 direct Income Protection policies from 12 insurance companies.

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Canstar – 2015 Direct Life Insurance Star Ratings – 14 ‘Five-Star Outstanding Value’ Awards

NobleOak’s Premium Life Direct product received the highest number (fourteen) ‘Five-Star Outstanding Value’ ratings in the 2015 CANSTAR Direct Life Insurance Star Ratings. The CANSTAR Direct Life Insurance research ranks direct life insurance based on value-for-money measures and then awards a star rating according to rank. In 2015, CANSTAR Direct Life Insurance compared 31 direct life insurance policies from 27 insurance companies.

2014_Excellence_Overall_TPD

Plan for Life – 2015 Direct Life Insurance Awards for TPD Rider NobleOak won the Product Award in the 2015 Plan For Life Direct Insurance Awards for Premium Life Direct TPD Option Rider. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

2014_Excellence_Overall_excellence

Plan for Life – 2015 Direct Life Insurance Awards for Overall Excellence NobleOak was awarded Finalist in the 2015 Plan For Life Direct Insurance Awards for Overall Excellence. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

2014Excellence_customer_service

Plan for Life – 2015 Direct Life Insurance Awards for Customer Service NobleOak was awarded Finalist in the 2015 Plan For Life Direct Insurance Awards for Customer Service. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

2014_Excellence_Overall_Term_life

Plan for Life – 2015 Direct Life Insurance Awards for Term Life NobleOak was awarded Finalist in the 2015 Plan For Life Direct Insurance Awards for Term Life. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

2014Excellence_trauma_

Plan for Life – 2015 Direct Life Insurance Awards for Trauma Rider NobleOak was awarded Finalist in the 2015 Plan For Life Direct Insurance Awards for Trauma Rider. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

2014_Excellence_income_protection

Plan for Life – 2015 Direct Life Insurance Awards for Income Protection NobleOak was awarded Finalist in the 2015 Plan For Life Direct Insurance Awards for Income Protection. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

AAABenchmarkGrading-2015

Plan for Life – 2015 AAA Direct Life Benchmark Grade NobleOak has been awarded a AAA Direct Life Benchmark Insurance Grade by Plan For Life for: Income Protection Premium Life Direct Direct Life Insurance Benchmark Grading is an initiative by Plan For Life to issue independent Benchmark Grades for Direct Life Insurance Products based on an in-depth actuarial and holistic benchmarking approach. Plan For Life is the leading independent supplier of Australian managed funds and Life insurance market information.

AABenchmarkGrading-2015

Plan for Life – 2015 AA Direct Life Benchmark Grade NobleOak has been awarded a AA Direct Life Benchmark Insurance Grade by Plan For Life for: Term Life Premium Life Direct Direct Life Insurance Benchmark Grading is an initiative by Plan For Life to issue independent Benchmark Grades for Direct Life Insurance Products based on an in-depth actuarial and holistic benchmarking approach. Plan For Life is the leading independent supplier of Australian managed funds and Life insurance market information.

qualify-award

2015 Gold Australian Business Quality Award NobleOak is the proud winner of the “Gold” Australian Business Quality Award for successfully adhering to its high service standards and going beyond clients’ needs. The Australian Business Quality Awards acknowledges enterprises that exhibit outstanding service levels as assessed by their customers. The organisation measures businesses against a range of internationally-recognised principles of best practice in customer service.

2014Excellence

Plan for Life – 2014 Direct Insurance Awards for Customer Service NobleOak was awarded Finalist in the 2014 Plan For Life Direct Insurance Awards for Customer Service. Plan For Life (Actuaries and Researchers) is the leading independent supplier of Australian managed funds and Life insurance market information, relied upon for over 20 years by the fund managers, life offices, analysts, dealer groups and government bodies. They are consulting actuaries, researchers and independent financial publishers.

Obtain an obligation free quote or apply – call 1300 041 494

What do our clients think?

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“Very polite & professional. Support from beginning to end was excellent. Outcome was successful.”

Muriel O. (September 2016)

Leona

“Professional, helpful staff. Easy process and quick decision. Significant savings compared to previous insurer.”

Stuart M. (July 2016)

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“My decision to move our policies was not done lightly. NobleOak helped to save my wife and I over $1400 per year and I just could not be happier!  Thank you to the team for your professionalism and quick responses in our policy management, we would recommend your services to our family and friends.”

Steve S. (August 2016)

kissun

“Noble Oak staff are very friendly and competent and provide excellent service. The insurance they provide is a great product at a reasonable, competitive price. I would recommend NobleOak to anyone.”

Malcolm H. (September 2016)

mark

“Very professional…very knowledgeable…very helpful . Everything was done when promised.”

Kerry L. (September 2016)

stacey2

“Very helpful and to the point.”

Kerri B. (September 2016)

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