NobleOak Income Protection Insurance Review: Pros and Cons

NobleOak Income Protection

NobleOak income protection can help you with expenses if you are unable to work due to illness or injury.


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NobleOak Income Protection Insurance

NobleOak's income protection insurance policy offers up to $25,000 per month in cover which is fully underwritten. NobleOak offers a wide range of benefit periods, including up to 65 years, the longest benefit period on the direct market.

Looking for an affordable Income protection policy that still provides the level of cover found with major retail insurers? With NobleOak Income Protection, you can cover up to 75% of your regular pre-disability income if you are forced to take time out of work following a serious injury or illness.

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Compare NobleOak Income Protection policies

Name Product Maximum Monthly Benefit Maximum % of Income Covered Maximum Benefit Period Waiting Period Options
NobleOak Income Protection
Up to 65
30 or 90 days
Get your first month free when you buy NobleOak Income Protection policy. Offer ends 30 April 2021. T&C's apply.

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Maximum monthly income$25,000 (Up to 75% of your monthly income)
Cover types
  • Income Protection
  • Business Expenses
Age of entry18-59
How do I apply?With a NobleOak over the phone.
  • NobleOak can offer flexibility in applications, including consideration of requests for monthly benefits up to $25,000
  • No waiting period options under 30 days
  • Specified injury benefits can pay out several months of cover in advance, even if you’re able to return to work
  • Few options for customising cover
  • You can choose a benefit period that lasts 2 years or to the age 65

NobleOak income protection insurance has been recognised for outstanding value for cover, while it’s also gathered plenty of other accolades for customer service, and quality cover.

A selection of its recent awards, only for customer service and income protection insurance, includes:

  • 2017 Feefo Gold Trusted Service Award for achieving exceptionally high scores in customer service reviews
  • 2016 Strategic Insights Direct Life Insurance Overall Excellence Award
  • 2016 Strategic Insights Direct Life Insurance Income Protection Finalist
  • 2016 Strategic Insights Direct Life Insurance Customer Service Finalist
  • 2016 Strategic Insights Direct Life Insurance Innovation Finalist

Note: Conditions apply, always consult the Product Disclosure Statement (PDS)

What does NobleOak Income Protection cover?

NobleOak’s Income Protection Insurance is designed to help replace your lost income if you’re unable to work due to serious sickness or injury. It offers the following benefits:

  • Total Disablement benefit*. You’ll receive an ongoing monthly benefit to replace up to 75% of your usual income (up to $25,000 per month). This helps you continue to provide for your family and manage your everyday expenses, giving much-needed peace of mind and allowing you to simply focus on getting better.
  • Partial Disablement benefit. A reduced monthly benefit will be paid if you are sick or injured but you are able to return to work in a reduced capacity. This means you will only be able to perform some of the duties of your usual occupation and you must be earning less than your pre-disability income.
  • Waiver of premium. You will not have to pay any premiums for the period in which you are being paid benefits.
  • Recurring Disablement benefit. If you return to work for less than six months after receiving your most recent Total Disablement or Partial Disablement benefit and suffer a recurrence of the same cause of your claim, this will be treated as a continuation of your original claim. No waiting period will apply for this benefit.

What are some of the key exclusions of the insurer?

The exclusions, where you may not be paid a claim, include:

  • Exclusions specific to you or your cover. You will be informed of these and given a chance to agree or decline them before taking out cover.
  • Normal or uncomplicated pregnancy or childbirth
  • Drug or alcohol dependency
  • Intentional self-injury or attempted suicide within 13 months of taking out cover, reinstating cover or increasing your cover
  • Participation in a criminal act

Does NobleOak have any rewards programs associated with its cover?

No. NobleOak strives to retain customers through outstanding, affordable and quality cover rather than rewards programs.

Part of it's offering revolves around not divert resources to heavy advertising, temporary rewards programs, brokerage commissions or other stunts.

How much will NobleOak Income Protection Insurance cost?

There are several factors that affect the cost of your NobleOak Income Protection Insurance policy, including:

  • The level of cover. The higher the monthly benefit, the more you will normally have to pay for cover.
  • The waiting period. The shorter the waiting period you select, the more expensive your cover will be.
  • The benefit period. Your policy will cost more if you select a longer benefit period.
  • How often you pay your premiums. You’ll receive a 5%discount if you pay your NobleOak Income Protection premiums annually.
  • Your sex. Your premium can also vary based on whether you are male or female.
  • Your age. Income Protection premiums generally increase as you age.
  • Your occupation. Jobs that are hazardous or attract a higher level of risk attract higher insurance premiums.
  • Your smoking status. Premiums are markedly higher for smokers due to the many health problems associated with smoking.
  • Your health. Your overall health and your family’s medical history will also be taken into account when determining the cost of cover.
  • Your pastimes. Engaging in high-risk sports and adventure activities will lead to more expensive cover.

What are the conditions for a benefit payment?

You need to inform NobleOak as soon as practicably possible in the event of you needing to make a claim. You’ll then receive a claims form and explanation of the next steps required, and what you’ll need to send in.

This can include:

  • Proof of age
  • Proof of income
  • Medical evidence
  • Other information requested

Other important features of your NobleOak Income Protection policy

  • Cooling-off period. Once you have taken out cover and received your NobleOak welcome pack, you have 30 days to decide whether or not the cover meets your needs. If you wish to cancel your cover during this 30-day period, you will receive a full refund of the premiums you have paid.
  • Claims. If you wish to make a claim, you’ll need to notify NobleOak of your intention within 14 days or as soon as is practically possible.
  • Changing your insurance. You can apply in writing at any time if you wish to increase your cover (you’ll need to complete a new application and undergo the full underwriting process) or decrease your cover (no further underwriting will be required).
  • Premium payments. If you wish to pay your NobleOak Income Protection Insurance premiums monthly, this can be done via direct debit from your nominated bank account or via a Mastercard or Visa credit card. Annual premiums are payable by cheque or direct debit.
  • Tax deductible. The premiums you pay towards NobleOak Income Protection Insurance are generally tax deductible.

How does NobleOak's Business Expenses policy help your business out?

Business expenses insurance from NobleOak is an affordable insurance product that gives peace of mind to you and your employees. It will help ensure that your business continues running even if you are too ill or injured to work. If you cannot work because of illness or injury, your NobleOak insurance will kick in and provide you with the following:

  • Reimbursement of all fixed ongoing business costs.
  • The amount of the business costs NobleOak will cover is determined when you take out the policy and choose the cover amount. You can cover up to $25,000 per month.
  • Ongoing fixed costs are those which would be incurred by the business whether it was generating income or not, for example payments for your utilities and loans.
  • Benefit payments for up to a year while you recover.

Looking to apply for NobleOak Income Protection?

If you are interested in taking out Income Protection insurance with NobleOak, you can make a secure enquiry by following the link in the table located above. Applications generally take about 15 to 20 minutes to complete. Depending on whether or not additional information is required, the application process is relatively straightforward with a dedicated client services team to assist you with any questions you might have.

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4 Responses

    Default Gravatar
    GrahamOctober 12, 2018

    How is Noble Oak associated with AMP, Comminsure and BT? I have seen enough of these organisations to know they cannot be trusted. If Noble Oak is associated with them at all, I will look elsewhere.

      Avatarfinder Customer Care
      JeniOctober 20, 2018Staff

      Hi Graham,

      Thank you for getting in touch with finder.

      Noble Oak is not associated with AMP, Comminsure and BT. It was first established as the ‘United Ancient Order of Druids Friendly Society of NSW.’ NobleOak is an Australian public unlisted and independent company regulated by APRA.

      I hope this helps.

      Please feel free to reach out to us if you have any other enquiries.

      Thank you and have a wonderful day!


    Default Gravatar
    KavithaJune 12, 2018

    I am working as a doctor . Could you send more information about income protection insurance

      Default Gravatar
      NikkiJune 13, 2018

      Hi Kavitha,

      Thanks for getting in touch.

      We have a dedicated page about income protection for doctors & medical professionals. On the page is a comparison table where you can compare quotes from different insurers. You can also enter your details in the form below the table to request a call back from our partner brokers.


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