Explore our life Insurance guides for information about the value of Life Insurance for key life stages from starting out as a young adult, to downsizing and retiring.
NobleOak has been serving customers for over 140 years. Here, you’ll find our latest press releases, links to blog articles, and information for media enquiries.
At NobleOak, we use clear communication at all times and avoid jargon. We aim to make Life Insurance simple and straightforward, starting with our friendly Australian-based Client Services team.
At NobleOak, we use clear communication at all times and avoid jargon. We aim to make Life Insurance simple and straightforward, starting with our friendly Australian-based Client Services team.
We’d like to congratulate you on securing award-winning life insurance to protect you and your loved ones. Our core philosophy is to ensure you always receive outstanding value, comprehensive products and great service.
This page includes some important information about your cover, including how your cover works, how to manage your cover and how to make a claim.
Important documents to refer to regarding your cover include your Welcome Letter, your Benefit schedule and Policy certificate, which we sent to you via email when you first took out cover. In addition, comprehensive information on all of our products can be found in our Product Disclosure Statement (PDS).
Self-Managed Super Funds (SMSF)
If you have taken life insurance cover out within an SMSF, please note that some of the items covered on this page may not apply to your policy due to relevant superannuation legislation. If you have any questions on how your cover differs, please call or email us. There is more information available about your cover here. Your adviser or the accountant of the SMSF will also be able to provide you with additional information.
Our Life Insurance products offer Variable Age Stepped Premiums (sometimes known as Stepped Premiums) – which means they generally increase each year with age. The rationale behind this is as people age, the likelihood of that person making a claim increases, due to factors such as declining health or increased mortality risk. To account for this higher risk, the premiums increase as you get older. This means that when people purchase life insurance and continue to hold it over time, their cover is more personalised to their life stage and level of risk. This framework is commonly used across the life insurance industry in Australia.
We increase your Sum Insured at each anniversary of your cover to guard against inflation with most of our products. The increase applies automatically and is the increase in the Consumer Price Index (CPI) or 3% whichever is more for Life, Trauma and TPD cover. For Income Protection your Sum Insured is indexed at CPI or 3%, whichever is less (this does not apply to Business Expenses cover). Your premium will automatically adjust to reflect the increase in cover. You can refuse each year’s increase or cancel these automatic increases by letting us know in writing. If you decline three consecutive increases, we won’t make any further increases. Indexation ceases as described in the PDS (the expiry age depends on the type of cover) or when your policy term expires. Please refer to the PDS for details of specific products.
While we strive to provide you with outstanding value, premium rates are not guaranteed to remain unchanged. We do review premium rates and premium factors from time to time to determine they are set at the right level to continue meeting future claims costs and other costs of providing the insurance cover. If we change our premium rates, the new rate will apply to you from your next policy anniversary date after the change. We’ll write to you to let you know at least 30 days before the change takes effect.
For some of our products, Life Cover and Total and Permanent Disability (TPD) you can increase your cover amount without the need to provide further medical evidence if a future increases event occurs such as taking out a mortgage or having a child when you are less than 60 years of age or an increase of up to 15% in your income. For Income Protection this feature is slightly different and is called the Future Income Increase Benefit. For more detail on these features, please see the relevant part of the PDS.
For your convenience, premiums can be paid monthly or annually. They can be paid through a direct debit arrangement or through your Visa or MasterCard. We want to ensure you are covered so it’s important for you to know that if you don’t pay your premiums, your insurance will lapse 65 days after the premium due date. If you have any issues with paying your premiums, please contact our team to discuss how we can help.
The great news is we guarantee to renew your insurance each year until policy expiry as long as your premiums are paid. While we consider factors such as your health, occupation and pastimes when we first offer you cover, once your policy is in force, we won’t cancel your insurance, or increase your premiums, due to any changes to these factors. Please note that you need to disclose truthfully as to any health conditions, lifestyle factors or upcoming test results when you first apply.
You might want to increase or decrease your life insurance cover amount through different life stages or events in your life. For instance, you might want to increase your cover when you increase your mortgage or have additional dependents, or you might want to decrease your cover when your dependents move out of home. You can call or email us to make these changes. There is also more information about changing your level of cover in the relevant part of the PDS.
If you need to claim
There are many ways we can offer support at this challenging time.
We pride ourselves on paying genuine claims quickly and efficiently. NobleOak accepted 98.8% of Life Cover claims in the January to June 2024 period.*
The claimant will be provided with a dedicated Australian based Case Manager who will guide the claimant through the claims process. They will be available throughout the journey, helping to simplify the process, source information and keeping the claimant informed throughout. If you have Income Protection cover, we may even be able to help with rehabilitation services within your Waiting Period, so it’s best to contact us as early as possible. More here about how to claim.
How do I change my contact details?
The easiest way to change any of your details is to update them on the NobleOak customer portal. If you haven’t registered on the portal yet, simply visit the portal and click Register now. In the portal you can review your contact details, your cover, your premiums and your nominated beneficiaries. You can also update your payment information.
Alternatively, you can call or email us to update your contact details. Call us on 1300 551 044 or email us at enquiry@nobleoak.com.au.
Please note: the Client Portal is not currently available for customers who hold their cover in their Self-Managed Super Fund (SMSF).
