We reveal the winners of Canstar’s most recent Award for Outstanding Value Direct Income Protection Insurance. Drum roll, please…
Canstar is pleased to congratulate our two winners for this year’s Direct Income Protection Insurance Award: NobleOak and Virgin Money.
If you’d rather buy income protection insurance direct from an insurance provider instead of going through a financial advisor, these two insurers provide outstanding value in their field.
NobleOak were awarded a 5-star rating for their Premium Life Direct Income Protection policy in each of the 80 consumer profiles that Canstar rates. They led the market in terms of low cost to consumers and the features they offer.
Well priced and strongly featured, the most distinguishing features of NobleOak’s Premium Life Direct Income Protection policy include:
Find out more about NobleOak and their award-winning direct income protection policies here.
For their Tailored Income Protection policy, Virgin Money received a 5-star rating in 49 of the 80 profiles considered by Canstar.
They are competitively priced and their feature offering is very strong relative to the market.
Virgin Money’s Tailored Income Protection offers:
Please note: Virgin Money Australia stopped offering new income protection quotes on 26 March 2021. New policies were no longer offered from 1 April 2021.
Compare direct income protection in Australia on the Canstar website. We’ve rated each product so you can see which products offer the best value for money in terms of price and features:
Compare Direct Income Protection Insurance with Canstar
Find out more about income protection options with our latest star ratings report:
This advice is general and has not taken into account your objectives, financial situation, or needs. It is not personal advice. Consider whether this advice is right for you, having regard to your own objectives, financial situation and needs. You may need financial advice from a suitably qualified adviser. For more information, read Canstar’s Financial Services and Credit Guide (FSCG) and our detailed disclosure. Canstar may receive a fee for referring you to a product provider – for further information, see how we get paid. Payment of fees for ads does not influence our Star Ratings or Awards.
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If you decide to apply for an insurance product, you will deal directly with an insurance provider, and not with Canstar. The inclusions mentioned represent a selection of what is covered at the time of writing. Additional terms and conditions may apply to different features. Additional fees may apply to the product. Premiums, product information and inclusions should be confirmed with the relevant insurance provider. Please ensure that you read the product disclosure statement to determine all the current options and inclusions for the product you are considering.
Any company listed above may use or be used by another company to arrange, issue, distribute or sell its insurance policies to customers. For more information on the issuer of the policy, please read the product disclosure statement, fact sheets and any other information provided in relation to the product. Copies of these documents are available from the company.
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Products displayed above that are not “Sponsored or Promoted” are sorted as specified in the body of text. Canstar may receive a fee for referral of leads from these products. See How We Get Paid for further information. If you decide to apply for income protection insurance, you will deal directly with an insurance provider, and not with Canstar.
Consider the provider’s detailed product and pricing information before making a decision to purchase a policy. The products displayed on this page do not include all providers and may not compare all features relevant to you.
The Direct Life Insurance Star Ratings in the above tables were awarded in May 2022, and data is as at that date, updated from time to time to reflect product changes notified to us by product issuers. View the Canstar Direct Life Insurance Star Ratings Methodology and Report. The rating shown is only one factor to take into account when considering products.
Any advice provided on this website is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you. Consider the Product Disclosure Statement and Target Market Determination before making a purchase decision. Canstar provides an information service. It is not a credit provider, and in giving you information about credit products Canstar is not making any suggestion or recommendation to you about a particular credit product. Research provided by Canstar Research AFSL and Australian Credit Licence No. 437917. You must not reproduce, transmit, disseminate, sell, or publish information on this website without prior written permission from Canstar.