Receive up to $5 million in total permanent disablement cover with NobleOak.
Taking out life insurance to protect your family if you’re unable to provide an income isn’t as simple as just taking out a single life insurance policy. A standard life insurance policy will generally pay out only when you die or if you are diagnosed with a terminal illness; however, there are a number of other ways your ability to provide for your family can be affected.
That is why NobleOak offers total and permanent disability insurance (TPD) with their life insurance to make sure you are protected from an even wider range of accidents, illnesses and unfortunate life events. NobleOak TPD insurance provides cover of up to $5 million and cover is renewable up to age 75. NobleOak TPD can be bundled as an option with its life insurance cover.
|Life Insurance - Max Amount||$5,000,000|
|Minimum Sum Insured||$0|
|Guaranteed Future Insurability|
Increase your cover after a major life event (e.g. marriage) without taking additional medical exams. Note: 'Major events' are different between providers.
|Maximum Entry Age||64|
This is the age of the policyholder when life insurance will no longer payout for claims.
- You can get a TPD insurance quote on the NobleOak website.
- You'll go through a full medical and lifestyle questionnaire over the phone.
- Your application will be sent off to their underwriters for assessment.
- Once approved, they will give you a call and organise a date to activate your cover.
Types of NobleOak TPD insurance cover
There are two different types of TPD insurance policies available from NobleOak depending on your needs and situation: My Protection Plan and Premium Life Direct. It is important to assess your individual needs to determine which plan is most suitable to your personal circumstances.
Features of NobleOak TPD cover – Premium Life Direct
Similar to TPD insurance through NobleOak's My Protection Plan, TPD cover as part of the Premium Life Direct plan will provide a lump-sum benefit should you be totally and permanently disabled.
If you are looking to secure TPD insurance with no medical examination, the Premium Life Direct plan may be a suitable solution for you. The following are the key features:
- Easy and accessible application. You can apply if you are between 16 and 64 years old. Your cover will remain active until 75 years of age.
- Lump-sum payment. You can apply for cover up to $5 million that will pay out in the event of a serious illness or injury that prohibits you from working.
- Dedicated claims specialist. If you need to make a claim, an experienced Australian-based team is available.
Features of NobleOak TPD insurance – My Protection Plan
You can add total and permanent disability to your NobleOak life insurance package as part of your My Protection Plan. You can purchase TPD insurance through the My Protection Plan with no advice and minimal medical underwriting.
Your TPD premiums are calculated based on your age and the benefit amount you choose. NobleOak will also ask you about your occupation, lifestyle, health and family history. With the NobleOak TPD policy through the My Protection Plan, you will get the following features:
- Easy and accessible application. You can apply for total and permanent disability insurance from NobleOak if you are between 16 and 65 years old. You can apply for up to $3 million of coverage, and your cover will remain active until you reach 75 years of age.
- Premium management after 65. After you reach 65 years of age, your TPD benefit amount will be reduced by 10% each year. This will continue until you are 75 or until you make a claim on your policy. This allows NobleOak to keep your premiums affordable as your income inevitably becomes tighter after you retire.
- Lump-sum payment. If you become totally and permanently disabled while covered by your NobleOak policy, you will receive a lump-sum benefit to help with medical costs, modifications to your home or ongoing expenses.
- Activities of daily living. In addition to disablement, you can also make a claim if you are unable to carry out certain daily living tasks such as bathing or toileting. Also, once you reach 65 years of age, to make a successful claim, you must be unable to perform daily living activities.
What is covered by NobleOak total and permanent disability insurance?
The definitions of total and permanent disability can differ between insurers. The following are the eligible conditions and disablement in your NobleOak policy:
- Gainfully employed. You must be employed for a minimum of 25 hours per week at the time you become ill or injured.
- Inability to work. As a result of your illness or injury, you must be unable to work for at least six consecutive months due solely to your illness or injury. You must also be under the care of a registered medical practitioner and undergoing all regular treatments for the illness or injury you have suffered. NobleOak will then examine all medical evidence and must deem you unable to ever be likely to return to your normal occupation or any other occupation.
- Cover for home duties. Where your role is that of a stay-at-home parent or partner, or you are working less than 25 hours per week, your illness or injury must be preventing you from doing at least two of the defined daily living activities.
NobleOak defines activities of daily living as follows:
- Bathing. The ability to wash yourself, either in a bath or shower, without assistance. The use of equipment or adaptive devices will be considered self-bathing.
- Dressing. The ability to put on and take off all of your garments and medical equipment such as artificial limbs without assistance. You will be assessed as dressing yourself even if you require the assistance of adaptive devices.
- Eating. The ability to get food into your body through any means without assistance, once it has been prepared and made available to you.
- Toileting. The ability to get to and from the toilet and maintain a reasonable level of personal hygiene without assistance.
- Transferring. The ability to move in and out of a bed or chair without assistance. You may be defined as transferring yourself without assistance, even if you are using canes, walkers, crutches or grab bars.
As you can see from the NobleOak definitions of total and permanent disablement, there are a number of ways you can become injured or fall ill to the extent that you are no longer able to work or take care of yourself. If that were to happen, you can remove the significant stress of financial concerns with NobleOak TPD insurance and concentrate on looking after yourself and your rehabilitation.
To be eligible for NobleOak TPD Insurance, you must be
- An Australian resident aged between 16 and 64.
A couple of other things you should be aware of
- This cover allows you to choose up to $5 million that will be advanced to you from your life cover if your illness or injury prevents you from ever being able to work again.
- The cover expiry age is 75 years of age.
What doesn't NobleOak TPD insurance cover?
- Your NobleOak TPD insurance will not pay out if the total and permanent disablement is the result of an intentional self-injury or attempted suicide within 13 months of the commencement or reinstatement of cover or increase of the benefit amount.