NobleOak Salary Continuance Insurance

Receive replacement income if you can't work with NobleOak salary continuance cover.

Your NobleOak My Protection Plan includes income protection (also known as salary continuance), so that if you are unable to work because of illness or injury, you can get a percentage of your monthly income. This ongoing benefit can help you pay for things like your rent or mortgage as well as your car repayments, utilities, school fees and daily living expenses such as food, fuel and groceries.

This means that you don’t have to dig too deeply into your savings to maintain control over your finances. You can preserve your family’s security and way of life while also protecting your credit rating and ongoing services.

Your income is your most important asset because it facilitates the acquisition of all your other assets, such as your home and your car. It also helps pay for all those valuable family experiences, such as holidays and birthdays. NobleOak makes it easy to include income protection in your life insurance plan.

Maximum Monthly Benefit$30,000
Maximum % of Income Covered75%
Maximum Benefit Period
This is the length of time that an income protection payout will last.
2 years or to the age of 65
Waiting Period
This is the minimum amount of time you must be off work before an income protection benefit kicks in.
30 or 90 days
Maximum Entry Age59
Expiry Age
This is the age of the policyholder when life insurance will no longer payout for claims.

  1. You can get an income protection quote on the NobleOak website.
  2. You'll go through a full medical and lifestyle questionnaire over the phone.
  3. Your application will be sent off to their underwriters for assessment.
  4. Once approved, they will give you a call and organise a date to activate your cover.

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How does the policy work?

To apply for an income protection insurance plan from NobleOak, you must be between 16 and 60 years old, and your cover will continue until you are 65 years old. The maximum benefit amount you can choose is $25,000 per month.

The cost of your income protection insurance premiums will be based on the benefit amount you choose and your risk factors, such as your age, health, family history, lifestyle and occupation. You can choose to pay your premiums monthly or yearly, whichever best suits your budget and cash flow needs.

What are some of the key features?

As part of your NobleOak life insurance plan, you will also be getting the following key features with the NobleOak income protection plan:

  • Ongoing monthly benefit. You can claim an ongoing monthly benefit of 75% of your pre-disability income.
  • Maximum sum insured. You can take out a maximum benefit of $25,000 per month.
  • Benefit indexation. Benefits are indexed annually by a minimum of 3% and a maximum of 5% of the consumer price index prior to the age of 60. This benefit is capped at $15,000 per month.
  • Specified injury and illness benefit. Benefits are paid for three to six months, depending on the specified waiting period.
  • Recurrent disablement benefit. If a disability reoccurs from the same or a related cause within a set period of the claim ending, it will be treated as a continuation of the original claim.
  • Rehabilitation benefit. An additional benefit is provided for a maximum of six months to cover rehabilitation expenses incurred as a result of your condition.
  • Spouse benefit. A benefit is paid to your spouse if they are forced to take time off work to care for you.
  • Benefit increase. The benefit increases after you have held the policy for more than 12 months by the lesser of the CPI or 5%.
  • Own occupation and any occupation. This will be determined by your occupation and the appropriate definition will be applied for that occupation.
  • Partial disability benefit. A benefit will be paid for partial disablement.

Not sure if salary continuance cover is right for you?

NobleOak makes it easy to take out comprehensive life insurance cover with their My Protection Plan. However, before you start worrying that you’re paying for packaged services you don’t really need, remember that you may need income protection in the following situations:

  • You are the primary income earner in the family. If your family uses your wage to pay the bills each month, cover ongoing living expenses and save a little for an emergency, then you should consider income protection insurance because if you were unable to work, your family’s finances would suffer significantly.
  • You are the secondary income earner in the family. Even if you are not the main income earner, your wages will still go towards extras, such as holidays, savings, investments and treats for the family. You work to earn a little extra for those extra purchases, so you don’t want your family to go without if you fall sick or are injured.

Receive a quote for NobleOak Salary Continuance Insurance

William Eve

Will is a personal finance writer for specialising in content on insurance. While he cannot give personal advice to clients, Will enjoys explaining the intricacies of different types of protective cover to help individuals and businesses find affordable cover that won't leave them underinsured.

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