TPD Insurance

Discover a smarter way to insure your future with NobleOak’s award-winning Total & Permanent Disability (TPD) Insurance.

Limited time offer,  get your first month FREE*.

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Maximum Cover Level

$5,000,000

NobleOak’s Premium Life Direct products include comprehensive Total and Permanent Disability (TPD) Insurance cover for up to $5,000,000. This cover is available only when accompanied with Life insurance cover and the amount of cover can be equal to or less than the Life insurance cover.

In the event you become totally and permanently disabled due to severe sickness or injury, NobleOak will pay the full sum insured as a lump sum and this will be drawn down against the value of your Life Insurance cover.

Maximum
Entry Age

64

To be eligible for TPD cover, you must be an Australian Resident aged between 16 and 64. Our TPD cover is priced using stepped premiums, which means your premiums will increase each year in line with your age and CPI (where your monthly benefits are indexed to keep pace with inflation).

Guaranteed Renewable Age

75

Provided you pay your premiums as they fall due, NobleOak guarantees to renew your Total & Permanent Disability cover each year up to the age of 75. Your TPD Insurance cover will not be cancelled, nor will your premiums be increased due to any future change in your state of health, lifestyle, occupation or pastimes.

Occupation
Definition

Any or Own

Under TPD cover you have the option to choose your Occupational Definition. You can choose between “Own Occupation” or “Any Occupation” definition.   Please note that if your occupation is classified as Heavy Blue Collar (HBC), only the “Any Occupation” definition is available. For full details regarding these definitions please refer to the NobleOak Premium Life Direct PDS.

Financial
Advice Benefits

$2,000

We appreciate that you may need to seek professional financial advice to ensure that the proceeds of a TPD claim payment provide you with appropriate financial security and with this in mind, we will reimburse the costs of engaging a qualified, licensed financial adviser, (up to $2,000) if you require, to prepare a financial plan for you when we pay any TPD benefits in excess of $200,000.

NobleOak’s Premium Life Direct products include comprehensive Total and Permanent Disability (TPD) Insurance cover for up to $5,000,000. This cover is available only when accompanied with Life insurance cover and the amount of cover can be equal to or less than the Life insurance cover.

In the event you become totally and permanently disabled due to severe sickness or injury, NobleOak will pay the full sum insured as a lump sum and this will be drawn down against the value of your Life Insurance cover.

Smarter TPD Insurance

With award-winning cover, personal service, and lower premiums NobleOak really is the smarter way to protect your life.

Life Insurance Features

Indexation Protection

To help protect you against inflation, your cover amount will increase each year using the Consumer Price Index (CPI). Your premiums will be adjusted accordingly with these increases.

Dedicated Claims Support

If you or your family need to make a claim you’ll be assigned a dedicated claims consultant based here in Australia. This consultant will support you throughout the claim process.

Cover with Global Backing

NobleOak’s products are backed by Hannover Life Re who is a leading global reinsurer. We are also an APRA regulated Life Insurer with a history dating back over 140 years.

TPD Benefits

If you become totally and permanently disabled due to a severe sickness or injury, NobleOak will pay you the full sum insured under your cover as a lump sum. If your sum insured is more than $3,000,000, the cover in excess of this amount will be assessed on our “Any Occupation” TPD definition.

Total and Permanent Disablement means, where solely as a result of your ill-health (whether physical or mental):

  • You have been absent from work (or Domestic Duties) for a continuous period of at least 6 months, and at the end of those 6 months, we are reasonably satisfied that your ill-health (whether physical or mental) makes it unlikely that you will:
    • If the ‘Own’ Occupation definition applies: ever again engage in your own occupation.
    • If the ‘Any’ Occupation definition applies: ever again engage in any gainful employment for which you are reasonably qualified by education, training or experience.
    • If the ‘Domestic Duties’ definition applies: ever again be able to perform your usual unpaid Domestic Duties; or
  • You have suffered Loss of Limbs and/or Sight; or
  • You have suffered Loss of Independence.

Subject to:

  • If this cover is held by a trustee of a superannuation fund, the ‘Any Occupation’ definition will apply.
  • If at the time of claim you are not gainfully employed for at least 15 hours per week and you are under the age of 65, the ‘Domestic Duties’ definition will apply.

Premium Freeze Option

You can fix the cost of your cover at any time by writing to us with a request to freeze your premium payment 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 TPD cover sum insured will be reduced to match the amount of cover that could be purchased with frozen premium.

You can write to us at any time to end your Premium Freeze request and your cover will return to normal  increases on the next anniversary of your cover.

Future Increases Benefit

You can increase your cover amount without the need to provide further medical evidence if one of the following events occurs:

  • You marry
  • You  register a new business partnership
  • You take out or increase a mortgage on your primary place of residence
  • You or your partner gives birth to or adopts a child.

ASIC & APRA Regulated Cover

NobleOak Life Limited (NobleOak) is regulated by ASIC and APRA in accordance with section 16C of the Life Insurance Act.

Here's What Our Clients Are Saying

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Was a quick and easy process. Price is a lot cheaper than other providers.
Margaret C
, NT
31 July 2018
Very professional, helpful and friendly service. My new life insurance policy was processed efficiently and I was contacted during each step of the process.
Susan C
, WA
26 July 2018
Fantastic customer service and the explanation of the product was clear and concise. Value for money.
Adrian T
, NSW
26 July 2018
They are good service, picked up my calling quickly and patient, and cheaper than other company.
Jasmine M
, NSW
19 July 2018
Great service. All my questions were answered promptly and he explained the product in an easy to understand way. I'm very happy with my life insurance purchase.
Carolyn C
, NSW
18 July 2018
Very professional and very clear explaining the policy. Staff are very polite. It was a real pleasure to work out a policy with them.
Michelle L
, NSW
17 July 2018
Mark was very professional and thorough. The end result was an excellent deal for my Life Insurance. I would highly recommend Noble Oak.
Peter C
, VIC
16 July 2018
They were very friendly and had good knowledge of their services that they are providing.
Vidhee P
, VIC
2 July 2018
Quick and easy! Professional, knowledgeable, helpful and friendly staff member. All questions answered and I was not left in doubt.
Rosemary S
, WA
30 June 2018
Very personable staff and dealing with the same people throughout the process. They all communicated clearly and regularly. Advice was always accurate.
Paul H
, WA
22 June 2018
Excellent, professional service. Proactive, efficient and a pleasure to deal with.
Goran A
, ACT
19 June 2018
The process was seamless from end-to-end. I saved a lot on my premiums and will be recommending to friends and family.
Sebastian P
, NSW
12 June 2018
I would like to thank your staff that dealt with me, they were knowledgeable, friendly, patient and helpful and were easy to understand. Great service.
Joseph B
, NSW
12 June 2018
Actually consider a case on it's merits instead of a blanket 'no'. Also very affordable.
Joanne P
, WA
12 June 2018
Good, clear information from friendly people at the other end of the line.
Osvaldo M
, QLD
7 June 2018
Excellent service, excellent client value awareness, very thorough, affordability is unmatched.
Richard O
, QLD
7 June 2018
The service and friendly staff made this whole experience pleasurable. The policy seems to have all I needed included. Thank you again for all your help.
Gail H
, QLD
3 June 2018
Very customer focused and clarifying questions along the way. I switched and saved quite an amount.
Sanjay B
, NSW
3 June 2018
I would like to recommend NobleOak for a professional, knowledgeable, personalised and friendly approach. The premium is very competitive in comparison to other companies for the same product.
Grace S
, VIC
1 June 2018
Friendly personnel, the questions were quick and without fixed answers that didn’t match my circumstances. The fact that all the documents were emailed to me immediately to review before I decided to go ahead was fantastic.
Lynda A
, QLD
20 May 2018

How to Apply

Life Insurance Quotes
  • Get a Quote

    One of our friendly insurance specialists will help you complete your Life and TPD Insurance quote over the phone or online.

  • Apply

    If you’re happy with the quote, you can apply immediately for Life and TPD cover either over the phone or book a time for a call back.

  • Get covered

    We”ll assess your application. If you require medical tests we’ll pay for them and keep you updated on your progress.

TPD Insurance Simplified

If you’ve scrolled this far, you may be interested in these topics

Frequently Asked Questions

What is Total & Permanent Disability (TPD) Insurance?

TPD Insurance is a popular and important type of cover that is often purchased as an optional extra with Life Insurance cover. While Life Cover provides financial protection for your family in the event of your death, and Income Protection Insurance provides cover if you can’t return to work temporarily, TPD Insurance is there to help you and your family if you become severely disabled and unable to ever work again.

Having this type of cover in place can help ensure your family will not be left with a major financial burden. For example, a TPD Insurance benefit may be used to ensure:

  • All major debts such as the home mortgage, credit cards and personal loans can be paid out
  • You can afford to either move to a new house or make modifications to your existing home
  • You can pay for any ongoing care and medical costs.

 

How much TPD Insurance cover do I need?

Working out how much TPD Insurance cover you need in the event of a catastrophic injury or illness can be challenging, however this need not be difficult.  A simple ‘rule of thumb’ is 10 to 15 times salary as a starting point. The amount of TPD cover will depend on your individual circumstances and should always include your overall debts and replacement of lost (future) income.

How Your Future Income Could Be Impacted

How much do you currently earn and how much do you and your family rely on your income?  TPD Insurance can cover your future living costs for you and your family by replacing your lost income.

If you become seriously disabled, your partner may be forced to give up work to help care for you, which could mean your family has no ongoing income stream. Alternatively, if your partner can continue to work, you may need to pay for a carer to help you on a daily basis.

Paying Your Debts

If you have a mortgage, you may want to ensure that you pay this off and clear any other outstanding debts such as credit card and car payments. This will reduce the financial stress for you and your family.

Caring for Your Dependants

How many children you have and their ages could be considered in your of TPD Insurance cover calculations.  The younger your children are, the longer they will be financially dependant on you. You could factor in school fees and out of school activities, as well as health insurance premiums, annual holidays and other incidental expenses, on top of the day-to-day living costs.

Paying for Rehabilitation Expenses

If you were totally and permanently disabled and unable to work again, your TPD cover payment would also help cover the cost of any long-term care and ongoing medical expenses. These expenses can readily run into hundreds of thousands of dollars over many years, and having these costs covered will allow you to focus on your treatment and rehabilitation.

The Right Insurance for You

Having the right amount of TPD Insurance cover in place is crucial. Contact NobleOak to learn more about our TPD cover, and conduct research or speak with an adviser to learn more about getting the right amount of TPD Insurance cover for you.

What does Any Occupation TPD definition mean?

If the ‘Any occupation’ definition applies to your TPD Insurance cover, then the benefit will be payable if your disablement renders you unlikely to ever again engage in any gainful employment for which you are reasonably qualified by education, training or experience. Due to the broader nature of this definition compared to ‘Own Occupation’ definition, the premiums are lower under this cover.

If you are seeking Life Insurance and TPD Insurance cover under your self-managed superannuation fund, then under SIS legislation the ‘Any Occupation’ definition will be applicable to your TPD cover.

What does Own Occupation TPD definition mean?

If the ‘Own Occupation’ definition applies to your TPD Insurance cover, then as the definition implies, the benefit will be payable if your disablement renders you unlikely to ever again engage in your own occupation. As this definition is very specific to your occupation and the duties associated with your occupation, the premiums for this cover are higher than for the ‘Any Occupation’ definition. ‘Own Occupation’ TPD Insurance cover is available to all NobleOak’s occupation classes except for Heavy Blue Collar (HBC) clients.

As an example, Patricia is a Cardiac Surgeon and she has ‘Own Occupation’ TPD cover in place. She develops debilitating arthritis in her hands and she is no longer able to perform surgery. As she generates the majority of her income from her surgery expertise she will receive her TPD benefit payment.

Are there any standard exclusions on my TPD Cover?

NobleOak’s Total and Permanent Disability (TPD) Insurance cover only has one standard exclusion. This is related to any intentional self-injury or attempted suicide while sane or insane within 13 months from the commencement, reinstatement or increase of the insurance cover (but only to the extent of that increase).

Other Exclusions Specific To You

Other than the standard exclusion mentioned above, NobleOak’s Underwriters may have deemed it necessary to apply other specific exclusions to your cover after review of your initial Application (and reviewing any additional medical evidence obtained at that time). The exclusion(s) would have been determined after your health and pastime activities had been assessed. Any exclusions applied by our Underwriters are specific to your circumstances and are detailed within the Special Acceptance Terms which were agreed with you prior to the commencement of your cover.

 

Will my TPD claim payment be considered as taxable income?

If you have TPD cover outside super, as this is paid as a lump sum, any benefit payment will generally not be considered as taxable income.

If you are purchasing Life and TPD Insurance for business purposes, your tax situation may be different. In these situations, and for all queries about taxation, we recommend you seek advice from your accountant or financial adviser.

 

Is TPD Insurance tax deductible?

No, the premiums payable for Total and Permanent Disability Insurance cover are generally not tax deductible.

However, if you are purchasing Life and TPD Insurance cover for business purposes and the business will own the cover, then your tax situation may be different. In these situations, we would recommend that you seek advice from your accountant or financial adviser.

 

Is Trauma Insurance the same as TPD Insurance?

No, Trauma Insurance is different from TPD Insurance. A Trauma benefit is payable on the diagnosis of one of the listed medical conditions under the Trauma agreement, regardless of disability or your capacity to work. A TPD benefit is paid if you become totally and permanently disabled due to a severe sickness or injury and you are unable to ever work again.

*Terms & Conditions

View T&Cs

First Month Free Offer

The first month free offer if you apply for cover before 31 October 2018. If you apply for cover before 31 October 2018, you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer.

Product PDS

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First Month Free Offer

The first month free offer if you apply for cover before 31 October 2018. If you apply for cover before 31 October 2018, you will not start paying premiums until one month after the commencement date of the cover. This offer is available once only per new customer.