Total and Permanent Disability (TPD) Insurance

If you become totally and permanently disabled due to sickness or injury, NobleOak will pay you the agreed cover amount as a lump sum. You can apply for an amount up to your Life Insurance sum insured, to a maximum of $5 million. As TPD is an option with Life cover, the Life cover amount will reduce by the amount paid for a TPD claim (as will trauma cover if that’s also taken as an option with life cover).

Note: If your occupation is Home Duties, the Domestic Duties definition for TPD will apply.

We understand that you may need some professional advice to ensure that the proceeds of a Total & Permanent Disability claim payment are managed appropriately. That is why we will reimburse the cost of engaging a qualified and licensed financial adviser, up to $2,000, to prepare a financial plan if we pay a TPD benefit in excess of $200,000.

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; and
• 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.

You can increase your cover amount by the lesser of $100,000 or 20% of the original cover amount without the need to provide further medical evidence if one of the following allowable events occurs:

• You take out or increase a mortgage on your primary place of residence
• You marry, register a partnership, or commence a de facto relationship recognised at law
• You or your partner gives birth to or adopts a child
• Your child starts secondary school
• Your spouse dies
• You get divorced