NobleOak Income Protection

Keep up with your expenses if an injury or illness stops you from working.

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.

Keep reading to find out what the Noble Oak Income Protection policy covers or follow the secure link below to make an enquiry for cover.

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Compare NobleOak Income Protection policies

Name Product Short Description Maximum Monthly Benefit Maximum % of Income Covered Maximum Benefit Period Waiting Period
Cover up to 75% (to a maximum of $25,000) of your monthly income with NobleOak Income Protection. Benefit period can be tailored to suit your needs.
2 years or to the age of 65
30 or 90 days
Monthly benefit of up to $25,000 payable in the event that the Life Insured is disabled due to injury or sickness and unable to work. Benefit is the lesser of monthly benefit and 1/12 of the Allowable Business Expenses incurred during preceding 12 months.
12 months
30 days

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Maximum cover amount$25,000
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 $30,000
  • 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

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.
  • Specific Sicknesses and Injuries benefit. You will receive a monthly benefit if you suffer one of a specified list of injuries or illnesses, such as coronary artery bypass surgery, Alzheimer’s Disease, heart attack, major burns or multiple sclerosis. You will receive benefits for six months if you select a waiting period of 30 days, or three months if you select a waiting period of 90 days. This benefit is paid regardless of whether or not you are Totally Disabled, and regardless of whether or not you can return to work.
  • Death benefit. If you die while receiving a Total or Partial Disablement benefit, your estate will receive a lump sum benefit equivalent to three months of Total Disablement benefit.
  • Rehabilitation Expenses benefit. If you are receiving benefits and your medical practitioner recommends, you may be eligible to receive financial assistance in the following situations:
  • Nursing Care benefit. This benefit is paid if you are totally disabled and confined to bed, and if a medical practitioner certifies that you need full-time care of a registered nurse for more than three consecutive days.
  • Claim Payment Benefit Increases. Once you’ve received a Total or Partial Disablement benefit for 12 consecutive months, your monthly benefit will automatically increase each year by either 5% or the Consumer Price Index (CPI), whichever is lesser.
  • Spouse benefit. In situations where your spouse has to stop working because you are totally disabled, NobleOak will pay the lesser of $2,000 per month or the amount your spouse would have earned per month if they had kept working, for up to six months.
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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.
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What are the conditions for a benefit payment?

In order to receive a Total Disablement benefit, you will need to:

  • Be unable to perform one or more duties of your occupation that is important or essential in producing income; and
  • Not working (whether paid or unpaid); and
  • Following the advice of a medical practitioner.

However, if you’ve been on maternity or paternity leave for 12 or more months prior to your claim, the first point above is replaced by a requirement for you to be unable to perform any occupation for which you are reasonably suited by education, training or experience.

You can choose to receive benefits for up to two years or until you reach the age of 65.

What is the age of eligibility for NobleOak Income Protection Insurance?

You’ll need to be between 18 and 59 years of age if you wish to take out a NobleOak Income Protection Insurance policy. Cover also expires once you reach 65 years of age, and premiums generally increase as you get older.

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Exclusions to be aware of

Your NobleOak Income Protection Insurance benefits will not be paid if your sickness or injury is caused by:

  • Any exclusion specific to your cover that has been agreed with you at the time of application. These exclusions will be noted in your Special Acceptance Terms.
  • Normal and uncomplicated pregnancy, childbirth or miscarriage.
  • An addiction to alcohol or drugs.
  • Self-inflicted injury or attempted suicide within the first 13 months following the commencement, reinstatement or increase of your cover.
  • Voluntary participation in a criminal act.
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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.

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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2 Responses

  1. Default Gravatar
    KavithaJune 12, 2018

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

    • finder Customer Care
      NikkiJune 13, 2018Staff

      Hi Kavitha,

      Thanks for getting in touch.

      For information on income protection insurance, you macy check this page.

      Take time to read the page. Chat us back if you need clarifications.


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