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If you die while covered for Life Insurance, NobleOak will pay the agreed cover amount as a lump sum to your nominated beneficiaries or estate.

You can apply for cover up to $15 million, although higher amounts will be considered where it can be justified.

NobleOak will quickly advance $15,000 of your cover amount to assist with funeral expenses, upon evidence of age and receipt of the death certificate.

If you become terminally ill, NobleOak will advance the cover amount up to a maximum of $3 million. Any remaining cover will remain in place until you die, when the balance is paid.

To be eligible for this payment:

• You must be diagnosed as being terminally ill by two Medical Practioners, one
  of which is a specialist practicing in an area related to the illness or injury suffered
  by you; and
• Their joint or separate diagnoses certify that you are suffering from an illness, or
  have incurred an injury, that is likely to result in death within 12* months of their certification.

*If the cover is to be owned by a SMSF (as a Trustee Member), then a 24 month certification period applies.

We understand that you or your estate may need some professional advice to ensure that the proceeds of a death or terminal illness claim payment are managed appropriately. That is why we will reimburse the cost of engaging a qualified financial adviser, up to $2,000, to prepare a financial plan if we pay a benefit in excess of $200,000 for death or terminal illness.

You can fix the cost of your cover at any time by writing to us with a request to freeze the premium amount. This means that:

• Your future premiums will be fixed at the amount you were paying on the date of notification.
• Each year your cover amount will be adjusted to the amount of cover that can be purchased for the frozen premium.

You can write to us at any time to end the Premium Freeze Benefit and the premium freeze will end on the next anniversary of your cover.