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Finder Award

NobleOak Life Insurance Review

Up to $15,000,000 of death cover and competitive pricing are among the reasons to choose NobleOak life insurance.

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$15,000,000

Maximum Cover

69

Maximum Entry Age

$15,000,000

Terminal Illness Benefit

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Details

Product NameNobleOak Life Insurance
Maximum Cover $15,000,000
Terminal Illness Benefit$15,000,000
Funeral Benefit $15,000
Guaranteed Renewability
Cooling-off (days)30
Online Quote

NobleOak life insurance: Our verdict

  • It's good for paying out fast. On average, your claim is processed within 5 business days.
  • It's good for accepting claims. It has a claims acceptance rate of 98.10%.
  • It's a 2019, 2020 and 2021 Finder Awards winner for Best Life Insurance.
  • It's good for price. On average, its premiums are 20% lower than comparable cover.

  • It only offers stepped premiums (these increase in price as you age).
  • It's not good if you want a funeral advancement of more than $15,000.
Best Life Insurance

2022 Finder Awards Winner: Best Life Insurance

NobleOak Life Insurance

NobleOak has been awarded Finder's best life insurance consecutively from 2019 to 2022. It offers up to $15,000,000 in cover which is more than most. It also allows policyholders to increase cover in the future by 20% without another medical assessment and on average, its premiums are 20% lower than comparable cover.

Deal

1 month free with NobleOak life insurance

Verified 3 days ago Expires 30 Nov 2022
Get your one month free when you buy NobleOak Life Insurance policy. T&C's apply.

Compare NobleOak life insurance and get quotes

Name Product Maximum Cover Maximum Entry Age Terminal Illness Benefit Average Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Life Insurance
$15,000,000
69
$15,000,000
98.1%
1.1 months
$20,230 million
Get your first month free when you buy NobleOak Life Insurance policy. Offer ends 30 November 2022. T&C's apply.
NobleOak TPD Insurance
$5,000,000
59
N/A
Data not available
Data not available
Data not available
Get fully underwritten Total and Permanent Disability Insurance that can be customised to fit your occupational situation and financial circumstances.
NobleOak Trauma Insurance
$2,000,000
59
N/A
Data not available
Data not available
Data not available
Get a quote for up to $2,000,000 in Trauma Cover.
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Compare up to 4 providers

Name Product Maximum Monthly Benefit Maximum % of Income Covered Maximum Benefit Period Average Claims Acceptance Rate Average Claim Time Sum Insured
NobleOak Disability Income Insurance
$30,000
70% for the first 24 months, 60% thereafter
Up to
Age 65
Data not available
Data not available
$59 million
With NobleOak, you can lock in a policy with a benefit period covering you up to the age of 65. Cover limits may go as high as $30,000.
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Compare up to 4 providers

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Premium Life Direct

There's no adviser with NobleOak's Premium Life Direct, which means no adviser fees. It's good if you're happy to work out how much life insurance you need yourself but less so if you want the security of a financial adviser.

NobleOak life insurance comes with the following benefits:

  • Life insurance. Cover for up to $15,000,000, subject to underwriting. This is more than the majority of insurers on the market.
  • Terminal illness benefit. Claim up to $15,000,000 of your life insurance benefit if you're diagnosed with a terminal illness. Most insurers offer this benefit.
  • Financial Advice Benefit. NobleOak will pay up to $2,000 for the cost of a qualified financial adviser for benefits in excess of $200,000. If you're worried this isn't enough, you might want to opt for NobleOak's My Protection Plan – this comes with a $5,000 financial advice benefit.
  • Grief Counselling Benefit. Many other insurers offer this. You can get up to $1,000 for grief counselling for you or your loved ones.
  • Premium Freeze Benefit. If your premium is becoming unaffordable, you can freeze your premium amount so it doesn't increase any more. However, this will lower your cover sum insured.
  • Future Increases Benefit. Increase your cover amount by the lesser of $100,000 or 20% of the original cover amount without having to provide any further medical evidence.​​

Go to NobleOak's site

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Optional add-ons

You can add the following optional extras onto your NobleOak life insurance policy:

  • Trauma insurance. This gives you up to $2,000,000 of your life insurance payout if you suffer a serious, listed medical condition. To apply: You must be an Australian resident and have an insurable health status at the time of application. The minimum entry age is 18 and the maximum age is 59. Cover expires at 70.
  • Total and permanent disability insurance. This can pay you a lump sum if you become permanently disabled. The benefit will reduce your life insurance cover and after you reach 65, your TPD benefit will be reduced by 10% each year until you are 75. To apply: You must be an Australian resident and have an insurable health status at the time of application. The minimum entry age is 16 and the maximum age is 59.
  • Disability Income Insurance. This replaces 70% of your lost income up to ($30,000 per month) if a serious illness or injury forces you to temporarily stop work. To apply: You must be an Australian resident aged between 18 and 55 and have an insurable health status at the time of application. You must also be employed, working at least 20 hours per week and earning no less than $1,500 a month (the minimum insurable income limit).

What is excluded?

All policies have exclusions. These are some of the main exclusions NobleOak will not cover and they're all very similar to other insurers:

  • Suicide occurring within 13 months of you taking out a policy.
  • Intentional self-injury or attempted suicide while sane or insane within the first 13 months.
  • Any exclusion, which is specific to you and noted in any Special Acceptance Terms when you sign up.
  • Addiction to intoxicating liquor or drugs.
  • Your voluntary participation in a criminal act.

For a full list of exclusions, read the product disclosure statement (PDS).

How much does NobleOak life insurance cost?

Prices in the table below are an average taken from NobleOak based on a non-smoking office worker. These prices show an average weekly premium and should only be taken as a rough guide. Quotes were taken as of March 2022.

Woman

Noble Oak life insurance costs: Female

Age$200,000 coverage$500,000 coverage$1,000,000 coverage
20 - 29$2.08$4.41$8.04
30 - 39$1.79$3.80$6.93
40 - 49$2.29$4.87$8.87
50 - 59$6.51$13.84$25.23
60 - 65$21.75$46.22$84.29
65 - 68$37.42$79.52N/A

Man

Noble Oak life insurance costs: Male

Age$200,000 coverage$500,000 coverage$1,000,000 coverage
20 - 29$5.98$9.28$16.91
30 - 39$2.72$5.78$10.54
40 - 49$3.22$4.87$12.48
50 - 59$8.73$28.76$33.83
60 - 65$33.20$70.55$128.65
65 - 68$64.83$137.75N/A

Frequently asked questions about NobleOak life insurance

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2 Comments

  1. Default Gravatar
    Rahul
    April 3, 2019

    Hi!

    I would like to obtain life insurance and wanted to know further details.

    Cheers
    Rahul

    • Avatarfinder Customer Care
      Joshua
      April 9, 2019

      Hi Rahul,

      Thanks for getting in touch with Finder. I hope all is well with you. 😃

      If you’ve decided to go with NobleOak, you can go to their website to obtain further details. If in case you are still checking other options, you may compare life insurance policies based on categories and details. Once you found the right one for you, click on the “Get quotes” button to learn more.

      Before applying, please ensure that you review the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.

      I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

      Have a wonderful day!

      Cheers,
      Joshua

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