Can I cancel my NobleOak life insurance policy?

You usually have 30 days after your insurance begins to cancel and receive a full refund on any premiums you've paid. If you cancel after this time, you generally won't be refunded for the premiums you've already paid.

Will my NobleOak life insurance premium increase as I age?

Yes. NobleOak life insurance premiums increase each year you hold cover. This is often referred to as stepped premiums. You can choose to freeze premium increases though. However, this will reduce your total lump sum payout. NobleOak doesn't offer level premiums – these start off more expensive but do not increase. It's one of the main downsides to taking out a policy with it as your premiums could become unaffordable when you get older.

Can I get NobleOak life insurance with a pre-existing condition?

Yes, you can get NobleOak direct life insurance with a pre-existing condition. All applications are fully underwritten so if there are any exclusions applied to your cover, you'll find out about them before your policy is issued.

Are my NobleOak life insurance premiums tax deductible?

No, life insurance premiums aren't generally tax deductible, according to the ATO (Australian Taxation Office) but income protection insurance premiums usually are.

Am I covered by NobleOak life insurance while my application is being completed?

Yes, all NobleOak life insurance policies come with Interim Accidental Death cover which is provided at no extra cost while your application is being assessed. This can cover you for up to $1 million.

Do I need to do a medical test?

You usually don't need to do a medical test when applying for NobleOak life insurance, unless you're older and applying for a high level of cover. You will need to answer questions about your medical history though.

Does NobleOak offer any discounts or concessions?

Yes. If you hold a Seniors Card or Seniors Savers Card you are entitled to a 17% lifetime discount for cover with NobleOak life insurance.

NobleOak life insurance review

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NobleOak often offers competitive pricing and has a high 96.9% claims acceptance rate.
Be aware NobleOak uses stepped premiums which typically increase in cost as you age.
It offers up to $25 million in life cover and includes a 17% Seniors Card discount.

Our verdict

Pros

It's good for accepting claims. It has a claims acceptance rate of 96.90%.
It's price competitive. On average, it's the cheapest life insurance policy available on Finder.

Cons

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 $25,000.

Compare key features of NobleOak life insurance and get a quote today

Finder Score	Maximum Cover	Funeral Benefit	Optional TPD Cover	Optional Trauma Cover
Finder score 9.5 Excellent NobleOak Life Insurance	Finder score 9.5 Excellent	Maximum Cover $25 million	Funeral Benefit $25,000	Optional TPD Cover $5 million (maximum cover)	Optional Trauma Cover Yes	Discount: Get 1 month free with NobleOak Life Insurance. Offer ends 2 Nov 2026. T&Cs apply.	Our verdict: Highly commended in the 2026 Finder Life Insurance Awards, offering up to $25 million in life cover, one of the highest payouts available.	Get Quote View details Compare product selectionCompare	loading
Finder score Not scored yet NobleOak Trauma Insurance	Finder score Not scored yet	Maximum Cover $2 million	Funeral Benefit $5,000	Optional TPD Cover	Optional Trauma Cover Yes	Get a quote for up to $2,000,000 in Trauma Cover.	Get Quote View details Compare product selectionCompare	loading
Finder score Not scored yet NobleOak TPD Insurance	Finder score Not scored yet	Maximum Cover $5,000,000	Funeral Benefit $0	Optional TPD Cover $5 million (maximum cover)	Optional Trauma Cover Yes	Get fully underwritten TPD cover that can be shaped in a way that takes into account your job and other circumstances. The $5 million benefit limit is – alongside RAC – the highest sum on Finder.	Get Quote View details Compare product selectionCompare	loading

Finder Score - Life Insurance

Life Insurance is a little complicated and a lot overwhelming. That's why we made the Finder Score, to make it easier to compare Life Insurance products against each other. Our experts analysed over 30 products and gave each one a score out of 10.

But a higher score doesn't always mean a product is better for you. Your situation is unique, so your policy choice will be too. Don't think of Finder Score as the final word, but as a good place to start your life insurance comparison.

Read the full methodology

NobleOak scored in the Finder Awards

The NobleOak Life Insurance was highly commended for Best Life Insurance in the 2026 Finder Awards.

Full list of 2026 winners

Why compare life insurance with Finder?

You pay the same price as buying directly from the life insurer.
We're not owned by an insurer (unlike other comparison sites).
We've done 100+ hours of policy research to help you understand what you're comparing.

Read a more detailed review

NobleOak life insurance
The optional add-ons

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NobleOak life insurance

There's no adviser with NobleOak's Premium Life Direct policy, 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. Your beneficiaries (e.g. your family) can receive up to $25,000,000 when you die, subject to underwriting. This is a larger amount than any of the other 25 insurers we reviewed. However, most people probably won't need a life insurance payout this big.
Terminal illness benefit. If you're diagnosed with a terminal illness, you can claim all of your life insurance benefit. Most insurers offer this benefit.
Financial advice benefit. NobleOak will pay up to $5,000 for the cost of a qualified financial adviser for benefits in excess of $200,000.
Grief counselling benefit. Some 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. This lets you increase your cover amount by the lesser of 25% without having to provide any further medical evidence.

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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.
Income protection 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 60 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).

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How much does NobleOak life insurance cost?

Prices in the table below are an average taken from NobleOak based on an accountant with $500,000 cover. These prices show an average weekly premium and should only be taken as a rough guide. We got these quotes in August 2026 and are subject to change.

Female
Male

Woman

NobleOak life insurance costs: Female

Age	Non-Smoker ($500,000 coverage)	Smoker ($500,000 coverage)
25	$15.56	$17.37
35	$14.45	$24.02
45	$21.15	$39.77

Man

NobleOak life insurance costs: Male

Age	Non-Smoker ($500,000 coverage)	Smoker ($500,000 coverage)
25	$30.01	$35.57
35	$21.12	$38.35
45	$26.98	$56.65

Insurers take into account a number of factors when calculating your premiums. These include the following:
- Your age
- Your sex
- Your health and medical history
- Your smoking status
- Your occupation (for example, is it dangerous?)
- Your personal pastimes
- The type of cover you get (such as getting life cover with TPD cover or income protection)
- The amount of cover you take out: the more you take out, the more expensive your premium is likely to be

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See how NobleOak's claim acceptance rate stacks up against other life insurers

This is the percentage of claims a life insurer pays out. It's based on data from Australian Prudential Regulation Authority (APRA) covering the 12-month period from 1 July 2021 to 30 June 2022. Taken from 18 Australian life insurance underwriters (of direct policies).

Claims acceptance rate

Claims acceptance rate
Brand	Claims accepted rate
OnePath	98.0%
Zurich	98.0%
RAC	96.9%
Budget Direct	96.9%
Nobleoak	96.9%
AAMI	90.1%
Insuranceline	90.1%
Suncorp	90.1%
TAL	90.1%
Australian Seniors	88.9%
Guardian	88.9%
Kogan	88.9%
Real	88.9%
ahm	86.4%
Medibank	86.4%

Claims acceptance rate
Brand	Claims accepted rate
OnePath	98.0%
Zurich	98.0%
RAC	96.9%
Budget Direct	96.9%
Nobleoak	96.9%
AAMI	90.1%
Insuranceline	90.1%
Suncorp	90.1%
TAL	90.1%
Australian Seniors	88.9%
Guardian	88.9%
Kogan	88.9%
Real	88.9%
ahm	86.4%
Medibank	86.4%

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).

Frequently asked questions about NobleOak life insurance

Yes. NobleOak life insurance premiums increase each year you hold cover. This is often referred to as stepped premiums. You can choose to freeze premium increases though. However, this will reduce your total lump sum payout. NobleOak doesn't offer level premiums – these start off more expensive but do not increase. It's one of the main downsides to taking out a policy with it as your premiums could become unaffordable when you get older.

Compare other products from NobleOak

NobleOak income protection

Sources

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Written by

Gary Ross Hunter

Journalist

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Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards. See full bio

Gary Ross's expertise

Gary Ross has written 524 Finder guides across topics including:

Health, home, life, car, pet and travel insurance
Managing the cost of living

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NobleOak life insurance review

NobleOak life insurance is one of the cheapest providers on the market, plus it can pay out up to $25,000,000 – but your premiums will increase as you get older.