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There are a number of reasons you might consider a policy with NobleOak. It doesn't do adviser fees or upfront commissions and on average, it processes claims within five business days. It also provides comprehensive life insurance cover of up to $15 million and has lower premiums on average when compared with other products available. These are just some of the reasons it was the most awarded direct life insurer of 2018.
If that sounds like the kind of cover you're looking for, then check out our breakdown of NobleOak's policies below to see which option suits you best.
It's no wonder why we rated NobleOak one of the best life insurance policies in Australia.
This table offers a quick review of NobleOak and the reasons for and against getting cover from this brand.
|Maximum cover amount||$15,000,000|
|Age of entry||16 - 69|
|How do I apply?||On the phone with NobleOak|
Based on Noble Oak Premium Life Direct Life insurance plan. Information last updated April 2019. Always consult the Product Disclosure Statement (PDS)
NobleOak provides comprehensive life insurance cover for up to $15 million. In the event that you pass away, NobleOak will pay the agreed amount as a lump sum to the person or persons you nominate in your policy.
When you take out a life insurance policy with NobleOak, you also have the option of adding total permanent disability (TPD) cover for up to $5 million and trauma cover for up to $2 million.
NobleOak's Premium Life Direct and My Protection Plan are among its most comprehensive products. With these plans, you can also add income protection insurance, covering up to a maximum of $25,000 per month, or business expenses insurance, in case you are self-employed.
Its policies also come with a range of benefits. These include:
No death benefit is payable under your NobleOak policy if your claim is a result of the following:
A range of other exclusions also apply to specific policy benefits:
Check the product disclosure statement for a full list of the exclusions that apply to your NobleOak life insurance policy.
Applying for cover with NobleOak is nice and straightforward. You can call 1300 041 494 or you can get a life insurance quote online.
When you apply online, you'll be taken to a page that allows you to select the cover you want. You can request the amount of cover you want for each product. Once you've requested a quote, it'll calculate how much your costs will be to help you decide if it's the right choice for you.
NobleOak is an Australian public unlisted company regulated by APRA. It's also backed by Hannover Life Re, the world's third largest global re-insurer. Financial performance, position and capital base are some of the things that are taken into consideration when assessing a company's financial strength and NobleOak is among the strongest in Australia.
NobleOak is an insurer dedicated to providing a simple life insurance alternative, so that all Australian families who need protection are able to be covered easily and affordably. NobleOak offers a genuine local alternative to the dominant wealth businesses and banks (through insurance subsidiaries) selling insurance in Australia, with a transparent and cost effective range of products. Since 1877, NobleOak has worked hard to build and cement its reputation as a friendly society, synonymous with trust and integrity.
An insurer doesn't operate for over 135 years if they're not following through on their promises of transparency and integrity. A business isn't able to consistently offer simple and affordable products without being dedicated to keeping their overheads low and operating as an APRA regulated insurer for reliability.
You can pay NobleOak life insurance premiums on a monthly or yearly basis. You can pay your monthly premiums by Visa or Mastercard or by direct debit from your nominated bank account. If you opt to pay premiums yearly, you can make your payment by cheque or direct debit. Annual premiums allow you to remove a 5% loading that applies to monthly premiums.
We calculated a few quotes with NobleOak Life Insurance to get a rough idea of the monthly cost. Note: Quotes taken out December 2018 and will vary based on the individual.
|Cover amount||Male (31 years of age)||Female (31 years of age)|
|$250,000||$14.31 per month||$7.51 per month|
|$500,000||$24.33 per month||$12.77 per month|
Profile based on a non-smoker.
The following factors also have a bearing on your NobleOak life insurance premium:
After assessing your health, family history and pastimes during the insurance application process, NobleOak may attach a premium loading to your policy.
Learn the types of cover available and what's right for you
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