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NobleOak has built a reputation for affordable insurance – on average, their premiums are 20% lower than comparable cover. They also process claims within five business days and don't charge adviser fees or upfront commissions, which are some of the reasons they were awarded Finder's best life insurance in 2019. But are they good for you? Our NobleOak review will help you get the answer.
$15,000,000
Maximum Cover
69
Maximum Entry Age
$3,000,000
Terminal Illness Benefit
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Product Name | NobleOak Life Insurance |
---|---|
Maximum Cover | $15,000,000 |
Funeral Benefit | $15,000 |
Guaranteed Renewability | |
Online application | |
Cooling-off (days) | 30 |
NobleOak's life insurance policy offers up to $15 million in cover which is fully underwritten. It allows policy holders to increase cover in the future by 20% without another medical assessment. It also offers a counselling benefit up to $1,000.
With NobleOak's Premium Life Direct, you don't have to go through an adviser, which means no adviser fees. It lets you choose the types and amounts of cover you want, and you only pay for what you're covered for. You can apply for a life insurance cover amount of up to $15 million and you have the flexibility to combine your life cover with trauma insurance (up to $2 million) and TPD insurance (up to $5 million). In addition, you can also apply for income protection (covering up to 75% of your income) and business expenses insurance through Premium Life Direct to provide additional cover against temporary illness and injury that forces you to take time off work. The age of entry is 16 to 69.
Noble Oak's My Protection Plan offers the same protection as Premium Life Direct but with the support of a financial adviser. You'll pay a little more, but the cover will be tailored to your needs by a professional. The age of entry is also 16 to 69.
With NobleOak Premium Direct Life and My Protection Plan policies, you choose the types and amounts of cover you want and only pay for what you're covered for. Here's what you can get with a policy.
All policies have exclusions. NobleOak will not pay a benefit if it is a result of the following:
For a full list of exclusions, always read the product disclosure statement (PDS) before you buy a policy.
You can add on to your NobleOak life insurance policy, depending on what your needs are. Some of your optional extras include the following:
Choose up to $2 million in cover that will be advanced from your life insurance payout if you suffer a serious, listed medical condition. This will help you pay your treatment expenses and adjust your lifestyle. The minimum entry age is 18 and the maximum age is 59. Cover expires at 70.
Increase the coverage of your NobleOak life insurance policy by adding a total and permanent disablement (TPD) benefit. TPD is available as an optional extra with life insurance. Any claim paid under TPD insurance will reduce the remaining life insurance cover amount (and trauma insurance if also taken) by the amount of the TPD benefit paid.
NobleOak's Income Protection Insurance is designed to help replace your lost income if serious sickness or injury forces you to temporarily stop work. It provides you with an ongoing monthly benefit to replace up to 75% of your usual income (up to $25,000 per month).
NobleOak has been providing Australians with insurance for over 140 years. Over that time, they've built a strong reputation as an insurer with affordable premiums and excellent customer service. They manage this primarily because they don't charge adviser fees or upfront commissions. On average, they'll also get your claim processed within five business days. Thanks to their commitment to low premiums and customer service they are one of Australia's most awarded life insurance brands, including taking out the 2019 Finder Award for Best Life Insurance.
Prices shown in table are an average taken from NobleOak and are for non-smoking office worker. These prices show an average weekly premium and should only be taken as a rough guide. Rates last checked on June 2020.
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
18 | $4.65 | $9.88 | $18.02 |
19 | $4.37 | $9.28 | $16.91 |
20 | $4.22 | $8.97 | $16.36 |
21 | $3.86 | $8.21 | $14.97 |
22 | $3.52 | $7.76 | $14.14 |
23 | $3.36 | $7.15 | $13.03 |
24 | $3.08 | $6.54 | $11.92 |
25 | $3.01 | $6.39 | $11.65 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
26 | $3.01 | $6.39 | $11.65 |
27 | $2.93 | $6.24 | $11.37 |
28 | $3.01 | $6.39 | $11.65 |
29 | $2.72 | $5.78 | $10.54 |
30 | $2.72 | $5.78 | $10.54 |
31 | $2.72 | $5.78 | $10.54 |
32 | $2.72 | $5.78 | $10.54 |
33 | $2.72 | $5.78 | $10.54 |
34 | $2.72 | $5.78 | $10.54 |
35 | $2.86 | $6.08 | $11.09 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
36 | $2.93 | $6.24 | $11.37 |
37 | $3.01 | $6.39 | $11.65 |
38 | $3.15 | $6.69 | $12.20 |
39 | $3.22 | $6.84 | $12.48 |
40 | $3.36 | $7.15 | $13.03 |
41 | $3.58 | $7.60 | $13.86 |
42 | $3.94 | $8.36 | $15.25 |
43 | $4.29 | $9.12 | $16.64 |
44 | $4.80 | $10.19 | $18.58 |
45 | $5.30 | $11.25 | $20.52 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
46 | $6.01 | $12.77 | $23.29 |
47 | $6.73 | $14.29 | $26.06 |
48 | $7.59 | $16.12 | $29.39 |
49 | $8.73 | $18.55 | $33.83 |
50 | $9.95 | $21.14 | $38.54 |
51 | $11.38 | $24.18 | $44.09 |
52 | $12.95 | $27.52 | $50.19 |
53 | $14.74 | $31.32 | $57.12 |
54 | $17.10 | $36.34 | $66.27 |
55 | $19.39 | $41.21 | $75.14 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
56 | $21.82 | $46.38 | $84.57 |
57 | $25.26 | $53.67 | $97.87 |
58 | $28.91 | $61.43 | $112.01 |
59 | $33.20 | $70.55 | $128.65 |
60 | $39.28 | $83.47 | $152.22 |
61 | $45.36 | $96.40 | $175.78 |
62 | $52.45 | $111.45 | $203.23 |
63 | $59.60 | $126.65 | $230.96 |
64 | $64.83 | $137.75 | $251.20 |
65 | $74.20 | $157.67 | $287.52 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
66 | $85.72 | $182.15 | $332.16 |
67 | $100.03 | $212.56 | $387.61 |
68 | $113.34 | $240.84 | $439.18 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
18 | $2.00 | $4.26 | $7.76 |
19 | $2.08 | $4.41 | $8.04 |
20 | $2.00 | $4.26 | $7.76 |
21 | $2.00 | $4.26 | $7.76 |
22 | $1.93 | $4.11 | $7.49 |
23 | $1.86 | $3.95 | $7.21 |
24 | $1.79 | $3.80 | $6.93 |
25 | $1.79 | $3.80 | $6.93 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
26 | $1.79 | $3.80 | $6.93 |
27 | $1.79 | $3.80 | $6.93 |
28 | $1.79 | $3.80 | $6.93 |
29 | $1.79 | $3.80 | $6.93 |
30 | $1.86 | $3.95 | $7.21 |
31 | $1.86 | $3.95 | $7.21 |
32 | $1.93 | $4.11 | $7.49 |
33 | $2.00 | $4.26 | $7.76 |
34 | $2.00 | $4.26 | $7.76 |
35 | $2.08 | $4.41 | $8.04 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
36 | $2.15 | $4.56 | $8.32 |
37 | $2.29 | $4.87 | $8.87 |
38 | $2.29 | $4.87 | $8.87 |
39 | $2.29 | $4.87 | $8.87 |
40 | $2.65 | $5.63 | $10.26 |
41 | $2.86 | $6.08 | $11.09 |
42 | $3.08 | $6.54 | $11.92 |
43 | $3.36 | $7.15 | $13.03 |
44 | $3.72 | $7.91 | $14.42 |
45 | $4.08 | $8.67 | $15.81 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
46 | $4.51 | $9.58 | $17.47 |
47 | $5.08 | $10.80 | $19.69 |
48 | $5.73 | $12.16 | $22.18 |
49 | $6.51 | $13.84 | $25.23 |
50 | $7.30 | $15.51 | $28.28 |
51 | $8.23 | $17.49 | $31.89 |
52 | $9.23 | $19.62 | $35.77 |
53 | $10.45 | $22.20 | $40.48 |
54 | $11.74 | $24.94 | $45.47 |
55 | $13.17 | $27.98 | $51.02 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
56 | $14.81 | $31.47 | $57.39 |
57 | $16.46 | $34.97 | $63.77 |
58 | $19.03 | $40.45 | $73.75 |
59 | $21.75 | $46.22 | $84.29 |
60 | $24.83 | $52.76 | $96.21 |
61 | $28.41 | $60.36 | $110.07 |
62 | $32.77 | $69.64 | $126.99 |
63 | $37.35 | $79.37 | $144.73 |
64 | $37.42 | $79.52 | $145.01 |
65 | $41.57 | $88.34 | $161.09 |
Age | $200,000 coverage | $500,000 coverage | $1,000,000 coverage |
---|---|---|---|
66 | $47.58 | $101.11 | $184.38 |
67 | $53.09 | $112.82 | $205.73 |
68 | $59.32 | $126.05 | $229.85 |
Insurers take into account a number of factors when calculating your premiums. These include the following:
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.
Still not sure if NobleOak is right for you? Here are the main pros and cons summed up.
Pros
Cons
You can get a quote for NobleOak life insurance by clicking on one of the NobleOak products through Finder. This will take you to the NobleOak website where you'll be asked your name, age, gender, phone number, address and if you smoke. Then you'll be given a quick estimate. A NobleOak representative can get in touch with you afterwards to help talk you through the full application process.