Who can apply
Australian residents between the ages of 16 and 69 can apply for NobleOak Life Cover.
Strengthen your super with our tailored cover designed to meet the needs of SMSFs.
Fully underwritten cover means ‘no surprises’ at claim time
Save on average 20%* on premiums
Apply for up to $15 million of Life Cover
Includes cover for terminal illness
Funeral advance of $15,000~
Guaranteed renewable to age 99
With NobleOak, you can access high cover levels (up to $15 million Life Cover) that are usually only available through financial advisers. The difference is you’re buying Life Cover directly from us, so you don’t pay upfront commissions.
It’s the smart way for SMSF owners to buy comprehensive Life Insurance, backed by outstanding personal service.
You can apply for up to $15 million cover for death and terminal illness, and up to $5 million for total and permanent disability, without having to go through a financial adviser.
We don’t pay fees or upfront commissions to advisers. That means lower premiums for you.
We take the time to get to know you upfront, so we can tailor your cover and premium. Giving you more certainty at claim time.
Premium Life Direct Insurance meets all of the Superannuation Industry Supervision Act 1993 (SIS) requirements for SMSFs. We also give you the flexibility to move your Life Insurance out of your SMSF if you need to, without having to reapply for cover.
We will pay a terminal illness benefit equivalent to the Life Cover sum insured up to a maximum of $3million on medical confirmation that you are terminally ill and have less than 12 months to live. This allows you to access your Life Insurance immediately.
If you or your family make a claim with NobleOak, you’ll be dealing with a friendly, Australia-based claims consultant from start to finish. We’re here to make the process easy for you.
Our Life Insurance products are backed by a leading global re-insurer, Hannover Life Re. In 2016, Hannover Life Re paid out globally over $7.7 billion^ for Life and Health Insurance claims (and related expenses).
We offer accidental cover at no additional cost during the application assessment period. This cover starts as soon as we receive a completed application for Premium Life Direct Insurance.
No one likes filling in long forms. That’s why we offer an easy application process over the phone, taking on average 20 mins.
|Inside Super||Outside Super|
|Cover types||NobleOak offers Life Cover and TPD Insurance only.||NobleOak offers a full range of covers, including Life Cover, TPD, Trauma Insurance and Income Protection Insurance.|
|Premiums||You pay your insurance premiums using tax-deductible superannuation contributions.||You pay your insurance premiums from your after-tax income.|
|Tax on benefits||Benefits paid to your spouse or dependants are generally tax-free. Benefits paid to other beneficiaries may be taxed up to 31.5%.||Benefits paid are generally tax-free, regardless of who they’re paid to.|
|Retirement savings||Insurance premiums paid reduce your retirement savings, so you may want to make additional super contributions.||Your retirement savings are not affected by your insurance premiums.|
This is a general guide only. Readers should consult a taxation adviser for their personal circumstances.
One of NobleOak’s friendly insurance specialists will give you an obligation free Life Insurance quote over the phone.
If you’re happy with the quote, you can apply immediately either over the phone or book a time for a call back.
We’ll assess your application. If you need medical tests we’ll pay for them and update you during the process.
SMSF Life Insurance pays a benefit to the SMSF (as the insurance owner) if the insured person dies or becomes totally and permanently disabled (if TPD cover was also applied for). That money is typically used to pay out the insured person’s death benefit lump sum, helping to protect the SMSF’s investment strategy for remaining members.
You can apply for Life Cover as stand-alone cover, or package it with TPD Insurance. Once you are accepted for Life Cover, we guarantee to renew your cover up to age 99, as long as your premiums are paid.
Your premium is calculated based on your age and gender, occupation, level of cover, and your answers to the health and lifestyle questions we ask when you apply. It’s tailored to you, so you don’t have to worry about paying more to compensate for other people’s risks.
If you have copies of any of your recent medical records or, blood test results and details of any prescription medicines you are taking, this will speed up the application and assessment process.
Many clients are able to answer all of the questions in our application without additional requirements.
No, all NobleOak applications are fully underwritten at the time you take the cover out.
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. Apart from the industry standard 13 month suicide exclusion (Life Cover) or 13 month self-injury or intended suicide exclusion (TPD cover), there are no other pre-built in exclusions with NobleOak Life Insurance.
If any Special Acceptance Terms are imposed on your cover, we tell you about these at the time of your initial assessment (underwriting stage) and formally agree these with you prior to issuing your cover.
We firmly believe this is the best way to provide Life Insurance as it provides more certainty and clarity for you and your family.